VANCOUVER, May 18, 2016 /CNW/ - Catalyst Copper
Corporation (TSX-V: CCY) ("Catalyst" or "the Company") is
pleased to report the results from its 2016 annual general meeting
of shareholders and special meeting of shareholders, optionholders
and warrantholders held on May 18,
2016.
The merger by way of a plan of arrangement with NewCastle Gold
Ltd. (TSX-V: NCA, "NewCastle") was approved by 100.0% of the votes
cast by shareholders, optionholders and warrantholders. The Company
expects to close the plan of arrangement with NewCastle early next
week.
Shareholders also voted in favour of the resolutions: a) fixing
the number of directors and appointing the nominees; b) for the
re-appointment of Deloitte LLP, Chartered Accountants, as auditors
of the Company for the ensuing year and authorizing directors to
fix their remuneration; and c) for the 10% "rolling" stock option
plan.
Forward Looking Information
Certain information contained in this press release constitutes
forward-looking statements. All statements, other than
statements of historical facts, are forward looking statements
including statements with respect to closing the Company's merger
with NewCastle. Forward-looking statements are often, but not
always, identified by the use of words such as may, will, seek,
anticipate, believe, plan, estimate, budget, schedule, forecast,
project, expect, intend, or similar expressions.
The forward-looking statements are based on a number of
assumptions which, while considered reasonable by Catalyst, are
subject to risks and uncertainties. In addition to the
assumptions herein, these assumptions include the assumptions
described in Catalyst's management's discussion and analysis for
the year ended December 31, 2015
("MD&A"). Catalyst cautions readers that forward-looking
statements involve and are subject to known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those
expressed in or implied by such forward-looking statements and
forward-looking statements are not guarantees of future results,
performance or achievement. These risks, uncertainties and factors
include general business, economic, competitive, political,
regulatory and social uncertainties; actual results of exploration
activities and economic evaluations; fluctuations in currency
exchange rates; changes in project parameters; changes in costs,
including labour, infrastructure, operating and production costs;
future prices of copper and other minerals; variations of mineral
grade or recovery rates; operating or technical difficulties in
connection with exploration, development or mining activities,
including the failure of plant, equipment or processes to operate
as anticipated; delays in completion of exploration, development or
construction activities; changes in government legislation and
regulation; the ability to maintain and renew existing licenses and
permits or obtain required licenses and permits in a timely manner;
the ability to obtain financing on acceptable terms in a timely
manner; contests over title to properties; employee relations and
shortages of skilled personnel and contractors; the speculative
nature of, and the risks involved in, the exploration, development
and mining business; and the factors discussed in the section
entitled "Risk Factors" in the MD&A.
Although Catalyst has attempted to identify important risks,
uncertainties and other factors that could cause actual
performance, achievements, actions, events, results or conditions
to differ materially from those expressed in or implied by the
forward-looking information, there may be other risks,
uncertainties and other factors that cause performance,
achievements, actions, events, results or conditions to differ from
those anticipated, estimated or intended. Unless otherwise
indicated, forward-looking statements contained herein are as of
the date hereof and Catalyst disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except 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.
SOURCE Catalyst Copper Corp.