Abitibi Royalties Inc.: New Appointment to Board of Directors, Grant of Incentive Stock Options
30 September 2011 - 1:47AM
Marketwired
Abitibi Royalties Inc. ("Abitibi Royalties" or the "Company"), (TSX
VENTURE: RZZ) is pleased to announce the appointment of Mr. Chad
Williams, P. Eng. to the Board of Directors of the Company (the
"Board"). Mr. Williams is a Professional Mining Engineer who spent
14 years as a gold mining analyst. Mr. Williams was formerly the
President and CEO of Victoria Gold Corp. He is currently a director
of Golden Valley Mines Ltd. Prior to joining Victoria Gold Corp.
and Golden Valley Mines Ltd., Mr. Williams was the head of Mining
Investment Banking at Blackmont Capital Inc. (now Macquarie Group).
With this diverse background, Mr. Williams is uniquely
positioned to bring additional knowledge, expertise, a broad range
of relationships, and new opportunities to the Company's Board.
Mr. Williams fills the casual vacancy created by the resignation
of Mr. Michael H. Wilson. Mr. Wilson will continue to serve the
Company as a consultant. The Company wishes to take this
opportunity to thank Mr. Wilson for his contributions during his
tenure as a director of Abitibi Royalties and looks forward to
continuing to work with Mr. Wilson and benefit from his expertise
and experience in his role as a consultant.
Additionally, the Company announces that it has granted
incentive stock options (the "Options") pursuant to its Amended and
Restated 2010 Stock Option Incentive Plan, to its directors,
officers, and consultants to purchase an aggregate 860,000 of its
common shares. The Options are exercisable at a price of $2.50
until September 29, 2016 and vest immediately.
About Abitibi Royalties Inc.: Abitibi Royalties Inc. holds title
to interests in the Luc Bourdon and Bourdon West Prospects (also
known as the McFaulds Lake Property) and the Malartic CHL Property,
plus a 2% net smelter royalty interest in one claim held by Osisko
Mining Corporation, which was previously held by Golden Valley and
vended to Osisko, and may acquire and generate other property and
royalty interests.
Forward-Looking Statement: This news release contains certain
forward-looking statements. These forward-looking statements are
subject to a variety of risks and uncertainties beyond the
Company's ability to control or predict and are not to be
interpreted as guarantees for future performance. These
forward-looking statements could cause actual events or results to
differ materially from those anticipated in such forward-looking
statements. All forward-looking statements speak only as of the
date of this news release and the Company does not undertake any
obligation to update or publicly release any revisions to such
forward-looking statements to reflect events, circumstances, or
changes in expectations after the date hereof, except as required
by law. Accordingly, readers should not place undue reliance on
such forward-looking statements.
Neither 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.
Contacts: Glenn J. Mullan Director and CEO 819-824-2808, x 204
glenn.mullan@goldenvalleymines.com
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