TORONTO, May 29, 2013 /CNW/ - Rainy River Resources Ltd. ("Rainy River" or the "Company" (RR.TSX)) announces the voting results from its Annual and Special General Meeting ("AGM") of shareholders, held on May 28, 2013.
During the regular business proceedings of the meeting, shareholders elected seven directors to the board of the Company and approved the following other resolutions, as follows:
1. The election of all the directors listed as nominees in Management's Information Circular dated April 19, 2013.
|NOMINEES||NUMBER OF SHARES FOR||PERCENTAGE OF VOTES CAST|
|Raymond W. Threlkeld||52,554,280||90.18%|
|Stuart A. Averill||52,374,127||89.87%|
|Leo N. S. Berezan||47,436,759||81.39%|
|Gerald J. Shields||50,927,159||87.38%|
2. The appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as Rainy River's auditors.
3. Approval and ratification of the Advance Notice Policy of the Company, with 89.03% of shares represented at the meeting voting in favour of the resolution.
About Rainy River
Rainy River Resources Ltd. is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project, a large gold system centred in Richardson Township (part of Chapple Township). As at March 31, 2013, the Company had approximately $90 million in cash and cash equivalents, and it remains well funded for its ongoing activities, including: 1) commencement of basic and detailed engineering work and ongoing permitting and environmental assessment work; 2) continuing to grow the existing resource through exploration; 3) conducting a condemnation program in areas identified for potential mine facilities. RRGP is very well located in northwestern Ontario. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development in Canada. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.
RAINY RIVER RESOURCES LTD.
Raymond W. Threlkeld
President and CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. These statements include the possible conversion of inferred resources into higher confidence categories of resources. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Rainy River Resources