Kesselrun Resources Corporate UpdateTHUNDER BAY, ON, December 22, 2017 – Kesselrun Resources Ltd. (TSXV:KES, OTCPink:KSSRF) (“Kesselrun” or the “Company”) is pleased to provide the following corporate update:
Results of Annual General Meeting
Kesselrun is pleased to announce that at its Annual General Meeting of Shareholders (“AGM”) held on December 12, 2017, all resolutions proposed to shareholders were duly passed, including setting the number of directors at four (4), the election of the following individuals as directors of the Company: Michael Thompson, Joao (John) da Costa, Caitlin Jeffs and Yanika Silina, the appointment of Dale Matheson Carr-Hilton Labonte LLP as the auditors of the Company and the approval of the Company’s 10% rolling Stock Option Plan.
The Company has also granted 1,650,000 incentive stock options to its directors, officers, employees and consultants. The stock options shall be exercisable at a price of $0.10 per share for a period of five (5) years from the date of issue.
Michael Thompson, President & CEO commented, “The proceeds from the settlement with First Mining afford Kesselrun the ability to continue with our business model without dilution to existing shareholders. We look forward to advancing our current projects and the possibilities afforded with the proceeds of the First Mining settlement.”
Michael Thompson, P. Geo., President and CEO of Kesselrun, is the Qualified Person responsible for the project as defined by National Instrument 43-101 and has approved the technical information in this news release.About Kesselrun Resources Ltd.
Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
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.
For additional information please contact:
Kesselrun Resources Ltd.
Michael Thompson, P. Geo., President & CEO
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.