Cypress Development Re-Elects Five Directors at AGM
VANCOUVER, British Columbia, July 11, 2017 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V:CYP) (OTCBB:CYDVF) (Frankfurt:C1Z1) (“Cypress” or the “Company”) is pleased to announce that it held its annual general meeting on July 10, 2017. The Company reports that Donald Huston, James Pettit, Donald Myers, Amanda Chow and Robert Marvin were re-elected directors of the Company. Shareholders also re-appointed Davidson & Company, Chartered Accountants, as auditors and approved the renewal of the Company's Incentive Stock Option Plan.
In other news Cypress announces, pursuant to its stock option plan, it has granted incentive stock options to its directors, officers, employees and consultants to purchase up to an aggregate of 260,000 common shares in the capital stock of the Company, exercisable for a period of five years, at a price of $0.10 per share. The Company's 10% rolling stock option plan was approved by the shareholders at the Annual General Meeting of the Company held on July 10, 2017.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded lithium and zinc exploration company that continues to acquire and develop potentially viable mineral projects in the State of Nevada, U.S.A.
Cypress is very active in Clayton Valley, Nevada with its team committed to systematically exploring its Dean and Glory properties for both a lithium-brine resource and expanding exploration relating to a lithium resource that exists within the large area of non-hectorite "mudstone" discovered at surface that has seen recent high lithium assays recovered from these same "outcropping mudstone".
Cypress Clayton Valley, Nevada Lithium Projects location map:
http://www.cypressdevelopmentcorp.com/i/maps/CYP-Clayton-topo-satalite-small.jpg
To find out more about Cypress Development Corp. (TSX-V:CYP), visit our website at www.cypressdevelopmentcorp.com.
Cypress Development Corp. has approx. 35.0 million shares issued and outstanding.
“Don Myers”
DONALD G. MYERS
Director
For further information contact myself or:
Don Huston
President & CEO
Cypress Development Corp.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@cypressdevelopmentcorp.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
