Tower Resources Announces Results of AGM – New Board of Directors
Tower Resources Announces Results of AGM – New Board of Directors
Vancouver, B.C. ‐ May 2, 2018 ‐ Tower Resources Ltd. (“Tower” or the “Company”) (TSXV: TWR)
is pleased to announce the results of the Company’s Annual General Meeting of Shareholders
held on April 30, 2018 (the “AGM”).
A total of 11,005,144 common shares were represented in person or by proxy at the AGM,
representing 12.21% of the votes attached to all outstanding co mmon shares of the Company as
at the record date. All the matters submitted to the shareholder s a s s e t o u t i n t h e N o t i c e o f
Meeting and Information Circular dated March 26, 2018, were approved by the requisite majority
of votes cast at the AGM, including the ratification of the Com pany's stock option plan and the
appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of
the Company for the ensuing year.
Tower is also pleased to announce that at the AGM, Messrs. Gerald Shields, Stuart Averill and
Garrett Macdonald were re‐elected and Messrs. Nicholas Nikolakakis and James Clark were
a p p o i n t e d t o t h e b o a r d o f d i r e c t o r s o f t h e C o m p a n y , e a c h b r i n g ing with them a breadth of
knowledge and experience. Mr. Nikolakakis is presently the Chief Financial Officer of Rubicon
Minerals Corporation and was the Chief Financial Officer of Rai ny River Resources Ltd. from July
2010 to September 2013. Mr. Clark is presently the Vice Preside nt of Project Development for
Coeur Mining, Inc. and was previously Senior Operations Manager at Snap Lake Mine for the De
Beers Group of Companies from September 2014 to May 2017 and Ma nager of Asset
Optimization, Snap Lake Mine, De Beers Group of Companies from November 2012 to September
2014.
Immediately following the AGM, Mr. Gerald Shields was appointed as Chairman of the board of
directors of the Company, Messrs. Nicholas Nikolakakis, Stuart Averill and Gerald Shields were
appointed as members of the Audit Committee and Messrs. Gerald Shields, James Clark and
Nicholas Nikolakakis were appointed as members of the Compensation Committee.
The Company further announces that it has granted stock options to acquire up to 3,500,000
common shares of the Company, 2,700,000 of which were granted to certain directors and
officers of the Company and the remaining to certain consultant s, advisors and employees. Each
of the stock options is exercisable for a five year term expiring on May 2, 2023 at a price of $0.125
per common share. On May 1, 2018, the last day that the Company's common shares traded prior
to the granting of the stock options, the closing trading price of the common shares on the TSX
Venture Exchange was $0.125. The options are subject to vesting provisions, with one‐third
vesting on the date of grant, an additional one‐third on the fi rst anniversary of the date of grant
and the remaining one‐third on the second anniversary thereof. The stock options are non‐
transferable. Any common shares is s u e d p u r s u a n t t o t h e e x e r c i s e of the stock options will be
subject to a four month hold period expiring on September 3, 2018.
National Instrument 43‐101 Disclosure
The technical content of this news release has been reviewed an d approved by Mr. Darrel Hyde,
P.Geo., Exploration Manager for the Company and a Qualified Person as defined by National
Instrument 43‐101.
About Tower Resources Ltd.
Tower is a Canadian based mineral exploration company focused o n the discovery and
a d v a n c e m e n t o f e c o n o m i c m i n e r a l p r o j e c t s i n t h e A m e r i c a s . T h e Company’s key exploration
assets are the Rabbit North copper‐gold porphyry project locate d between the New Afton and
Highland Valley Copper mines, the Nechako gold project near New Gold’s Blackwater project and
t h e M o r e C r e e k & V o i g t b e r g g o l d p r o j e c t s i n t h e G o l d e n T r i a n g l e a r e a o f N o r t h e r n B r i t i s h
Columbia.
On behalf of the Board of Directors,
Tower Resources Ltd.
Garett Macdonald, President, CEO & Director
(437) 344‐9958
www.towerresources.ca
Reader Advisory
This news release may contain st a t e m e n t s w h i c h c o n s t i t u t e “ f o r ward‐looking information”,
including statements regarding the plans, intentions, beliefs and current expectations of the
Company, its directors, or its officers with respect to the future business activities of the Company.
The words “may”, “would”, “could”, “will”, “intend”, “plan”, “a nticipate”, “believe”, “estimate”,
“expect” and similar expressions, as they relate to the Company, or its management, are intended
to identify such forward‐looking statements. Investors are cautioned that any such forward‐
looking statements are not guarantees of future business activi ties and involve risks and
uncertainties, and that the Company’s future business activitie s may differ materially from those
in the forward‐looking statements as a result of various factors, including, but not limited to,
fluctuations in market prices, s uccesses of the operations of t he Company, continued availability
of capital and financing and general economic, market or busine ss conditions. There can be no
assurances that such information will prove accurate and, there fore, readers are advised to rely
on their own evaluation of such uncertainties. The Company does not assume any obligation to
update any forward‐looking information except as required under the applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility fo r the adequacy or accuracy of this
release.