VANCOUVER, Dec. 24, 2012 /PRNewswire/ - Guyana Frontier Mining Corp. ("Guyana Frontier" or the "Company") is pleased to announce the results of the Annual and Special Meeting of the Company's shareholders held on Dec. 21, 2012, in Vancouver, B.C., Canada, at which:
- Warren W. Stanyer, Neil S. Allen, and Brian J. Walker were re-elected as members of Guyana Frontier's Board of Directors (the "Board"), and Evangelos F. Gnissios, the Company's Chief Financial Officer and Corporate Secretary, was elected as a member of the Board;
- BDO Canada LLP, Chartered Accountants, was re-appointed auditor for the coming year;
- in accordance with TSX Venture Exchange policies, the Company's incentive stock option plan was approved and ratified for the ensuing year;
- the shareholders approved the consolidation of the Company's outstanding common shares on the basis of one (1) post-consolidation common share for every four (4) pre-consolidation common shares (the "Share Consolidation"), subject to the acceptance of the TSX Venture Exchange. The Board will have the sole discretion to implement or abandon the Share Consolidation; and
- the shareholders approved the change of the Company's name to Orealla Resources Corp. (the "Name Change"), subject to the acceptance of the TSX Venture Exchange and British Columbia Registrar of Companies. The Board will have the sole discretion to implement or abandon the Name Change.
Shareholders representing 28.8% of the issued and outstanding shares of the Company were represented at the Annual General Meeting in person or by proxy.
In addition, Guyana Frontier announces the appointments of Mr. Neil Allen as Chair of the Board, Mr. Warren Stanyer as Chief Executive Officer, and Mr. Evangelos Gnissios as Chief Financial Officer and Corporate Secretary.
About Guyana Frontier
Guyana Frontier is a TSXV-listed public mineral exploration company focused on the exploration, discovery and development of precious metals deposits in Guyana and Brazil, South America. Guyana Frontier began acquiring interests in Guyanese exploration properties in 2007, and now holds rights to obtain working interests in approximately 209,824 acres (84,915 hectares) of prospective lands in Guyana.
Guyana Frontier's primary goal is to develop a significant gold resource at the Marudi Mountain Gold Project in located in southern Guyana, and to explore its other projects in Guyana and Brazil with joint venture partners.
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.
Forward Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the completion or abandonment of the Share Consolidation and Name Change. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE Guyana Frontier Mining Corp.