TSX-V: CXO
VANCOUVER, Jan. 6, 2020 /CNW/ - Colorado Resources
Ltd. (TSX.V: CXO) ("Colorado", or the "Company") is pleased to
announce the results of the Company's Annual General Meeting of
Shareholders (the "Meeting") held in Vancouver, British Columbia on December 17, 2019. The number of shares
represented by shareholders at the Meeting was just greater than
29% of Colorado's issued and
outstanding common shares. All of the matters presented to
shareholders for consideration and approval in the Company's
Management Information Circular were approved with near-unanimous
support. A brief list of the most important items of business
conducted at the Meeting is as follows:
Election of Directors
The number of Directors of the
Company to be elected at the Meeting was fixed at five. The
Directors nominated for the ensuing year include the re-election of
Bryan Wilson, Cecil R. Bond, Michael
Cathro and Fletcher Morgan.
The shareholders approved the election of Joseph Mullin, the Company's President and CEO,
to the Board of Directors. Alastair
Still did not stand for re-election to the board of
directors.
Colorado's CEO and director
Joseph Mullin comments
"Colorado would like to thank
Mr. Still for his contributions over the past year and a half and
we wish him all the best in his future endeavors. We look forward
to continue working with Mr. Still and Newmont, as Newmont remains
a large and supportive shareholder of Colorado."
Appointment of Auditor
Shareholders approved the
appointment of Smythe LLP, Chartered Professional Accountants, as
Colorado's auditor for the ensuing
year or until their successor is appointed.
Stock Option Plan
Shareholders approved the Company's
Stock Option Plan, which the Company will file with the TSX Venture
Exchange (the "Exchange") for its approval pursuant to Exchange
policies.
About Colorado
Colorado Resources Ltd. is
exploring high-grade gold and copper in the Golden Triangle and the
Toodoggone area of British
Columbia. The portfolio includes the flagship Castle
property, a porphyry copper-gold project located in the Red Chris
mining district of the Golden Triangle neighbouring GT Gold's
Tatogga property. Other properties include the KSP, North ROK,
Kingpin, Heart Peaks and Sofia
properties in British Columbia.
These assets are being advanced by a newly assembled technical and
management team with experience in exploration, permitting and
discovery.
On behalf of the Board of Directors of Colorado Resources
Ltd.
"Joseph Mullin"
Joseph Mullin
Chief Executive Officer and Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this
release.
Cautionary Statement Regarding Forward-Looking
Information
All statements, trend analysis and other
information contained in this press release about anticipated
future events or results constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect" and "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. All statements, other than
statements of historical fact, included herein, including, without
limitation, are forward-looking statements. Although Colorado (the "Company") believe that the
expectations reflected in such forward-looking statements and/or
information are reasonable, undue reliance should not be placed on
forward-looking statements since the Company can give no assurance
that such expectations will prove to be correct. These statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in such forward-looking statements, including the
risks, uncertainties and other factors identified in the Companies'
periodic filings with Canadian securities regulators. Important
factors that could cause actual results to differ materially from
Colorado expectations include
risks associated with the business of Colorado; risks related to exploration and
potential development of Colorado's projects; business and economic
conditions in the mining industry generally; fluctuations in
commodity prices and currency exchange rates; uncertainties
relating to interpretation of drill results and the geology,
continuity and grade of mineral deposits; the need for cooperation
of government agencies and native groups in the exploration and
development of properties and the issuance of required permits; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs and
uncertainty of meeting anticipated program milestones; uncertainty
as to timely availability of permits and other governmental
approvals; and other risk factors as detailed from time to time and
additional risks identified in Colorado's filings with Canadian securities
regulators on SEDAR in Canada
(available at www.sedar.com). Forward-looking statements are based
on estimates and opinions of management at the date the statements
are made. Colorado does not
undertake any obligation to update forward-looking statements
except as required by applicable securities laws. Investors should
not place undue reliance on forward-looking statements.
SOURCE Colorado Resources Ltd.
