Colorado Resources Announces Settlement with Adam Travis and Combined Slate of Board Nominees for Upcoming Annual General Mee...
April 11 2018 - 9:24PM
Colorado Resources Ltd. (TSX-V:CXO) ("Colorado" or the "Company")
and former CEO Adam Travis are pleased to announce they have
entered into a settlement agreement (the "Agreement") with respect
to the composition of the Company’s board of directors and nominees
to be elected at Colorado’s 2018 annual meeting of shareholders
(the “Meeting”) on April 17, 2018.
Under the terms of the Agreement, two of the
Company’s previously announced director nominees, Cecil Bond and
Robert Shaw, Colorado’s President & CEO, will be included on
management’s slate of five director nominees, as will two of Mr.
Travis’ previously announced director nominees, Bryan Wilson and
Patrick Soares. It is expected that an independent fifth
nominee will be announced prior to the Meeting for election or, if
not yet determined, announced as soon as possible thereafter and
appointed to the Board.
The Board and management of the Company
unanimously recommend voting in favor of the individuals nominated
by management for election to the Board at the Meeting.
The Meeting will proceed as planned on April 17,
2018 and any proxies submitted to date remain valid and, absent
instructions otherwise, shall be voted in favour of the election of
the reconstituted slate of nominees for the Meeting.
It is important shareholders vote only the
Company’s BLUE Proxy by Friday, April 13, 2018 at 10:00 a.m.
(Pacific Time).
Shareholders who voted on the yellow proxy or
voting instruction form wishing to change their vote or revoke a
previously submitted vote should contact Kingsdale Advisors.
For questions or assistance, please contact
Kingsdale Advisors, at 1.800.775.3159 toll-free in North America;
or via email at contactus@kingsdaleadvisors.com.
Advisors
Colorado has retained Kingsdale Advisors is
acting as strategic shareholder and communications advisor and
Boughton Law Corporation as its legal counsel. Colorado’s
Special Committee has retained Norton Rose Fulbright and McCullough
O'Connor Irwin LLP as its legal advisors.
About Colorado
Colorado Resources Ltd. is currently engaged in
the business of mineral exploration for the purpose of acquiring
and advancing mineral properties located in the “Golden Triangle”
British Columbia and holds approximately 1,200sq km of mineral
claims in this prolific metalliferous region. The Company’s main
exploration projects within British Columbia include KSP and North
ROK. Additionally, the Company holds an option to acquire a 100%
interest in the Green Springs project located in eastern
Nevada.
Contact:Kingsdale AdvisorsIan
Robertson, 416-867-2333Executive Vice President, Communication
Strategyirobertson@kingsdaleadvisors.comCell: 647-621-2646
or
Shareholders:Kingsdale AdvisorsToll free:
1-800-775-3159contactus@kingsdaleadvisors.com
Cautionary Note Regarding Forward-Looking
Statements
Certain statements contained in this news
release, constitute “forward-looking information” as such term is
used in applicable Canadian securities laws. Forward-looking
information can be identified by words such as “will”, “arranging”,
“ongoing”, “continues”, “ensure”, “proceeding” and similar
references to future periods or actions. Examples of
forward-looking statements include, among other things, the
management’s slate of director nominees and the Company’s annual
meeting. Forward-looking information is based on plans,
expectations and estimates of management at the date the
information is provided and is subject to certain factors and
assumptions, including: the appointment of a fifth director to the
board. Forward-looking information is subject to a variety of risks
and uncertainties and other factors that could cause plans,
estimates and actual results to vary materially from those
projected in such forward-looking information. Factors that could
cause the forward-looking information in this news release to
change or to be inaccurate include, but are not limited to, the
risk that any of the assumptions included in this press release
prove not to be valid or reliable, as well as the other risks and
uncertainties applicable to mineral exploration and development
activities and to the Company as set forth in the Company’s
Management’s Discussion and Analysis reports filed under the
Company’s profile at www.sedar.com. There can be no assurance that
any forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader should not
place any undue reliance on forward-looking information or
statements. The Company undertakes no obligation to update
forward-looking information or statements, other than as required
by applicable law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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