ROUYN-NORANDA, QUÉBEC--(Marketwired - Sept. 25, 2013) - Pershimco Resources Inc. (the "Company" or "Pershimco") (News - Market indicators) (FRANKFURT:BIZ) is pleased to provide its shareholders with an update regarding the results of its Annual General Meeting (AGM) held Friday, September 20th in Rouyn-Noranda, and to present its Board of Directors for the upcoming year. The formal AGM was followed by a technical review and progress report of the Company's wholly-owned Cerro Quema project.
An encouraging 53.6% of shareholders participated in the election process of Pershimco's Board of Directors and auditors. The following seven directors were elected to strong majorities:
| Roger Bureau |
Chairman |
| Claude Arcand |
Director |
| Jorge Bande |
Director |
| Robert Bryce |
Director |
| Alain Bureau |
Director |
| Andrew Pullar |
Director |
| Jean Robitaille |
Director |
Furthermore, we are pleased to announce that Deloitte LLP has been re-elected to act as the Company's auditor for the next fiscal year.
As part of its annual incentive plan, the Corporation granted a total of 1,320,000 stock options on September 20, 2013, of which 1,100,000 stock options were granted to Pershimco's directors and officers at an exercise price of $0.32 per share, valid for a period of 5 years.
PANAMA
Following the positive results from the Company's carefully planned exploration strategy at its wholly-owned Cerro Quema copper-gold sulfide targets, including the previously announced outstanding deep drilling results (see news release dated June 18, 2013), Pershimco is preparing to mobilize more powerful drill rigs in October to drill 800 meter holes on a group of selected targets. Notably, the recent challenging market conditions have enabled the Company to renegotiate the cost of exploration services on more favourable terms.
CANADA
Osisko Mining Corporation has announced that, as part of its efforts to reduce its exploration costs, it will no longer be conducting exploration on the Courville property. As a result, Pershimco will regain full interest in the gold project. Meanwhile, Pershimco remains comitted to strictly maintaining only minimum exploration expenditures on all Canadian projects.
ABOUT PERSHIMCO RESOURCES INC.
Pershimco Resources Inc. is a Canadian-based resources and exploration company listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company holds several mining properties in Canada and South America, including the extraction permitted Cerro Quema advanced project in Panama and the Courville Gold Project in the Val-d'Or Gold Mining Camp. The Company is managed by skilled and reputable people with extensive mining, exploration and development experience. The Pershimco Team and its investors are the keys to its success.
The Company's documents are available on www.sedar.com.
Please visit the Company's website at www.pershimco.ca.
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 news release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statement.
