Western Troy Announces Receipt of Notice of Board Nominees

TORONTO, June 21, 2018 (GLOBE NEWSWIRE) -- Western Troy Capital Resources (TSX Venture:WRY) (“Western Troy” or the “Company”) announced today that on June 20, 2018, pursuant to its advance notice by-law, it received formal notice (the “Advance Notice Letter”) from Resurgent Capital Corp. (“Resurgent”) of the nomination of four individuals (the “Resurgent Nominees”) for election to the Company’s Board of Directors at the upcoming Annual and Special Meeting of Shareholders to be held on August 1, 2018. The full text of the Advance Notice By-Law is available on SEDAR at www.sedar.com.

As a result of the foregoing nomination, there are a total of eight (8) nominees for the four (4) board positions to be elected at the meeting. The Board of Directors of the Company reminds shareholders that the Company has already proposed a full complement of four (4) experienced directors and recommends shareholders to vote in favour of the Company nominees. The Company nominees are John Archibald, Melvyn Williams, Rex Loesby, and Stephen Dunn. Biographical information regarding each of the Company Nominees is available in the Management Information Circular of the Company dated June 19, 2018 and filed on SEDAR at www.sedar.com. Information on how to vote is also provided the Management Information Circular. 

Information Concerning Proposed Nominees:

Provided below is a brief summary of biographical information of the Resurgent Nominees. None of the information regarding the Resurgent Nominees has been verified by the Company and the Company takes no responsibility for its accuracy.

Joel Freudman is the Founder, President and Director of Resurgent, a merchant bank focused on micro-capitalization Canadian public companies. Previously, he was in-house legal counsel to various wealth management businesses, most recently at Industrial Alliance Insurance and Financial Services Inc. (acting in a general counsel capacity to the private wealth division), and before that at Royal Bank of Canada (supporting its discount brokerage and mutual fund distribution businesses). Mr. Freudman also serves as President, Chief Executive Officer and a Director of Trius Investments Inc. (TSXV:TRU). He is a member of the Law Society of Upper Canada, and holds a Juris Doctor degree (with distinction) from Western University and a Bachelor of Commerce degree (with distinction) from the University of Toronto.

Daniel Cohen is an equity capital markets professional who recently completed his involvement with Beacon, an institutional investment dealer. He was initially a Founding Partner, member of the Executive Committee, and Director - Institutional Equity Sales at Beacon, before moving into his most recent role there as Managing Director – Head of Equity Sales. Prior to Beacon, Mr. Cohen worked at two other independent institutional-focused dealers, including in the role of Director – Sales at Wellington West Capital Markets. Mr. Cohen has a Masters in Business Administration from McGill University, with a specialization in finance, and also holds the Chartered Financial Analyst designation.

Damian Lopez is a corporate lawyer with mergers and acquisitions and corporate finance experience. Mr. Lopez is currently a legal consultant to various Toronto Stock Exchange and TSX Venture Exchange listed companies in various sectors including mining, financial services, agriculture and technology. Mr. Lopez is also currently the President, Chief Executive Officer and a director of Valencia Ventures Inc. (TSXV:VVI.H) and a director of Trius Investments Inc. (TSXV:TRU). From 2011 to 2015, Mr. Lopez was a corporate law associate at Stikeman Elliott LLP. Mr. Lopez holds a B.Com. from Rotman Commerce, University of Toronto and a J.D. from Osgoode Hall Law School.

Yisroel Weinreb is the Founder and Managing Partner of Plaza Capital, which supports many North American early stage growth companies with strategic debt placements and equity investments. He is also the President and Chief Executive Officer of Lake Central Air Services Inc., an airborne geophysical survey industry company, and Chief Executive Officer and a Director of Findev Inc. (TSXV:FDI), a real estate financing company. Prior to his involvement with Plaza Capital, Mr. Weinreb was the President and Chief Executive Officer of eMobile Inc., a telecom arbitrage company with a specialization in international roaming, which he co-founded in 2008. Currently, Mr. Weinreb also serves as a Director of various private companies and TSXV-listed capital pool companies.

Contact Information:

Western Troy Capital Resources Rex E. Loesby, CEO
Tel: 303-771-9610
Email: RexLoesby@gmail.com
Website: www.westerntroycapital.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.

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Western Troy. Forward-looking statements include estimates and statements that describe Western Troy’s future plans, objectives or goals, including words to the effect that Western Troy or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Western Troy, Western Troy provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking information. Forward looking information in this news release includes, but is not limited to, Western Troy’s objectives, goals or future plans, statements (including the terms, conditions and objectives of the Transaction), details of the exploration results, potential mineralization, the company’s portfolio, treasury, management team and enhanced capital markets profile, the receipt of regulatory approvals for the Offering, the receipt of regulatory approvals of the Transaction, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction and the Offering on the terms as announced or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Western Troy’s public documents filed on SEDAR. Although Western Troy believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Western Troy disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.