QUEBEC CITY, QUEBEC -- (Marketwired) -- 12/17/14 -- Clifton Star Resources Inc. ("Clifton Star" or the "Company") (TSX VENTURE: CFO)(FRANKFURT: C3T) today announced the re-election of management's slate of nominees (Michel Bouchard, Ross Glanville, Peter Gundy, and Philip Nolan) at the Company's annual meeting of shareholders.
The total number of shares represented by shareholders present in person and by proxy at the annual meeting was 20,746,949, representing just over 53.66% of the Company's Issued and Outstanding Common Shares. Of those who voted for directors, approximately 58.7% of the shares were voted in favour of management's nominees.
Mr. Harry Miller who had publicly proposed another slate of directors did not attend the annual meeting. It is clear that even if the Company had been asked at the annual meeting to waive its Advance Notice By-Law, Mr. Miller's nominees would not have been elected by shareholders.
"Shareholders should know that our board and management remain steadfast in their commitment to create long-term value for all," said Ross Glanville, Chairman of the Board. "We will continue to engage all shareholders in a responsive dialogue and look forward to discussing our plans to create value for all shareholders."
Mr. Yves Harvey did not stand for re-election at this year's annual meeting. Michel Bouchard, President and CEO of the Company said: "We wish to thank Yves for his invaluable contribution over the last few years and wish him well for the future."
Appointment of Auditors:
Deloitte s.e.n.c.r.l., Chartered Professional Accountants was appointed to serve as the auditors of the Company for the ensuing year with the directors of the Company authorized to establish the auditors' remuneration.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information
Certain information included in this press release, including any information as to our future exploration, financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. The words 'expect', 'believe', 'will', 'intend', 'estimate' and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, including the possibility that drill programs will not yield the expected results. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Clifton Star Resources to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Company's most recent Form 20-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Contacts:
Michel F. Bouchard
President and CEO
Clifton Star Resources Inc.
Email: mbouchard@cfo-star.com
Phone: 418-914-9922
www.cfo-star.com
For Media Inquiries: Ian Robertson
Vice President, Communications
Kingsdale Shareholder Services
Direct: 416-867-2333
Cell: 647-621-2646
Email: irobertson@kingsdaleshareholder.com
