VANCOUVER, Dec. 24, 2012 /CNW/ - 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.