Gainey Capital Corp. (TSXV: GNC) (“Gainey” or the “Company”) is pleased to announce the addition of Lawrence Segerstrom, MSc (Geol), MBA, P.Geo to its Board of Directors at its Annual General Meeting of shareholders held yesterday.
Election to the Board
Lawrence “Larry” Segerstrom is a professional geologist with more than 30 years of experience in exploration and operations and 20 years in resource company senior management. Past management positions include Chief Operating Officer of Paramount Gold and Silver Corp. and Manager of Geology of the Grasberg Mining District for Freeport-McMoRan. He has been involved in several discoveries, including leading the teams that discovered and developed new resources of more than 750,000 ounces of gold and 60 million ounces of silver with Paramount, and new ore reserves totaling 3.4 billion pounds of copper and 3.6 million ounces of gold with Freeport. He is currently President of Metallum Exploration, developing gold properties in the British Isles. Mr. Segerstrom holds an MSc in Geology, an MBA, and is a qualified person under Canadian NI 43-101 standards.
On Mr. Segerstrom’s election to the Board, David Coburn, Gainey CEO commented “I am extremely pleased with adding Larry Segerstrom to our Board. Having been born in Mexico and from years of doing business there, Larry speaks Spanish fluently and understands the Mexican culture. He started Layne Christensen Company’s drilling operation in Mexico with just 3 rigs and expanded it to more than 35 rigs in a very short period of time. Larry is a ‘hands on’ professional who brings a wealth of real-world precious metals mining experience to the Company, and we look forward to capitalizing on his depth of technical knowledge. Larry will be a huge asset to us in Mexico “.
The Company also reports that Edward Farrauto has resigned from the Board of Directors. Management thanks Mr. Farrauto for his dedication and assistance in seeing the Company through its Qualifying Transaction to its current state.
Annual General Meeting
The Company is pleased to report that at its Annual General Meeting of Shareholders (“AGM”) held yesterday, all resolutions presented passed by way of overwhelming majority vote. At the AGM, the shareholders:
- re-elected three incumbent directors to the Board, including David Coburn, D. Barry Lee and Marco Antonio Rincon-Valdes
- elected Lawrence Segerstrom as a new director (see above);
- re-appointed Davidson & Company LLP Chartered Accountants as auditor of the Company for the ensuing year;
- ratified and approved the Company’s 10 per cent rolling stock option plan; and
- approved an Advance Notice Policy respecting the election of directors to the Board of the Company.
Additional information regarding the AGM can be found in the Information Circular sent to the Company’s shareholders, available at www.sedar.com.
Gainey Capital is pleased to announce the launch of its new corporate website at www.gaineycapital.com . Shareholders and prospective investors are welcome to browse the website for additional information on the Company and its Mexican projects.
About Gainey Capital Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
David Coburn, Chief Executive Officer
For information, please contact the Company:
FORWARD LOOKING STATEMENTS: This press release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company 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 may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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