Colt Resources Inc.: Shareholders Elect Board of Directors at Annual General and Special Meeting
Montreal, January 15, 2016 - Colt Resources Inc. ("Colt" or the "Company") (TSXV: GTP) (FRA: P01) (OTCQX: COLTF) is pleased to announce the results of its Annual General and Special Meeting ("AGM") held on January 13, 2016. All motions presented at the AGM were passed including the ratification of investments into the Company's associate, Colt Resources Middle East ("CRME"). Colt now owns approximately 16.14% of CRME. The following matters were considered at the AGM:
Election of Directors - Messrs. Joe Tai, Sabri Karahan, Nikolas Perrault, Paul Yeou and Ambassador Hans H. Hertell were re-elected and Mr. John Gravelle was newly elected to the board of directors.
Mr. Gravelle has extensive experience developing diverse talent, providing senior management coaching and implementing leadership development and succession planning programs, providing oversight to a broad portfolio of client activities including financing, tax strategies, acquisitions, resource nationalism, and operational efficiencies. He has built a strong network of relationships with senior executives and board members of public and private mining companies, serving as relationship partner for many of Pricewaterhousecooper's clients, and continues to drive sector innovation.
President and CEO of the Company, Mr. Nikolas Perrault comments, "We are delighted to welcome John to the Board. His depth of experience as a global mining business leader, combined with his knowledge of North American publicly listed companies, will be a tremendous asset to the Company as we advance our projects in Portugal. The Board also would like to thank Mr. James Ladner for his years of dedicated service to the Company"
Appointment and Remuneration of Auditor: Raymond Chabot Grant Thornton LLP were newly appointed the auditor of the Company for the ensuing year and the Directors were authorized to fix their remuneration.
About Colt Resources Inc.
Colt Resources Inc. (www.coltresources.com) is a Canadian mining exploration and development company engaged in acquiring, exploring, and developing mineral properties with an emphasis on copper, gold and tungsten. It is currently focused on advanced stage exploration projects in Portugal, where it is one of the largest lease holders of mineral concessions.
The Company's shares trade on the TSX-V, symbol: GTP; the Frankfurt Stock Exchange, symbol: P01; and, the OTC Pink, symbol: COLTF.
For more information contact:
| Nikolas Perrault, CFA President & CEO Colt Resources Inc. Tel: +351-219-119810 Fax: +1-514-635-6100 nperrault@coltresources.com | Shahab Jaffrey, CPA CA Chief Financial Officer Colt Resources Inc. Tel: +1-514-843-7178 Fax: +1-514-843-7704 sjaffrey@coltresources.com |
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of the Company, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Company's annual information form available on SEDAR at www.sedar.com and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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