June 26, 2014, Toronto, Ontario, Canada – Rio Silver Inc. (“Rio Silver” or the “Company”) (TSX.V: RYO) is pleased to announce the voting results from its annual general and special meeting of shareholders held on June 26, 2014 (the “Meeting”). At the Meeting, the shareholders elected Mr. Thomas John Magee, Mr. Steven Brunelle, Mr. Edward J. Badida, Mr. Jeffrey Reeder, Mr. Oscar F. Pezo Camacho, and Mr. Richard Mazur as directors of the Company.
In addition, the shareholders also approved resolutions: (i) approving the re-appointment of parker simone LLP, Chartered Accountants, as auditors for the Company for the ensuing year; (ii) ratifying and confirming an amendment to the by-laws of the Company to add an advance notice requirement where nominations of persons for election to the Board of Directors of Rio Silver are made by shareholders; and (iii) ratifying and approving the renewal of the Company’s stock option plan, and confirming the grant of 300,000 stock options to Yes International at a price of $0.05 per share as previously announced on October 16, 2013.
At the Meeting, shareholders also approved as a special resolution authorizing the Board of Directors to consolidate the commons shares of the Company (the “Consolidation”) on the basis of up to a maximum of five (5) pre-Consolidation shares to one (1) post-Consolidation share, or such lower consolidation ratio as deemed appropriate. The Board of Directors has the authority to implement the consolidation at the ratio of up to 5 to 1 at any time and will be permitted, without further shareholder approval, to select a lower consolidation ratio if they deem it appropriate. The Consolidation is subject to the approval of the TSX Venture Exchange. Rio Silver currently has 61,117,849 common shares issued and outstanding.
ON BEHALF OF THE BOARD OF DIRECTORS OF RIO SILVER INC.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company 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 forwardlooking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
For more information contact:
Jeff Reeder, President, CEO
Tel: (647) 302-3290
Dan Hamilton, Chief Financial Officer
Tel: (416) 867-1591 Ext 303