Western Troy Announces Board of Director Changes, Provides Litigation Update
TORONTO, ONTARIO--(Marketwired - Mar 29, 2016) - Western Troy Capital Resources (TSX VENTURE:WRY) ("Western Troy" or the "Company") announces the departure of director W. Steve Vaughan and the election of John Archibald to its Board of Directors.
Dr. Vaughan has resigned as a director of Western Troy due to compliance requirements at the law firm where he is a partner. He has been a director of Western Troy since the late 1980's.
Mr. Archibald, an exploration geologist with over 40 years of experience in worldwide mineral exploration, has been elected to the Western Troy Board. John is a Registered Professional Geologist, has held positions as VP Exploration, Project Manager, and Qualified Person for mineral projects around the world. He has worked primarily in Canada, but his experience includes work in Alaska, Africa, Costa Rica, Venezuela, and Mexico.
Western Troy's CEO, Rex Loesby, commented, "Steve Vaughan has been an exceptionally strong member of the Western Troy Board. His background in geology and decades of experience in the international mining business, mining law issues, and mining industry transactions have been invaluable for Western Troy. He will be missed. We are very fortunate to have John Archibald join the Western Troy Board of Directors. As we move beyond the Genivar litigation and begin to look at potential acquisitions or business combinations, we believe John will proved strong business and technical counsel."
The Genivar litigation is in the closing days of trial. All testimony has been given and final arguments are scheduled to be heard on April 1, 2016. Final judgement is expected within a few weeks of the end of trial.
Western Troy's CEO, Rex E. Loesby, commented, "We are very confident that our claim against GENIVAR will ultimately result in a substantial settlement for Western Troy. We have examined a number of potentially attractive business opportunities over the past couple of years. If and when Western Troy receives a substantial award, we will be in touch with the folks involved with those business opportunities. Given the state of the mineral exploration business, we are confident we will find exceptional opportunities to add shareholder value."
About Western Troy: Western Troy's shares trade on the TSX Venture Exchange under the symbol WRY. Western Troy has 33,589,970 shares outstanding. More information on Western Troy can be found on its Website at www.westerntroy.com.
CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements." Other than statements of historical fact, all statements included in this release, including, without limitation, future plans and objectives of the Company, implementation of the Consolidation, and possible outcomes in respect of the GENIVAR litigation, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are the risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Contact
Western Troy Capital Resources
Rex E. Loesby
CEO
416-929-3268
RexLoesby@aol.com
www.westerntroy.com
