Cava Resources Inc. Announces a Name Change to Gold Rush Cariboo Corp. and Appoints New President
June 14 2018 - 7:00AM
Cava Resources Inc. (“Cava” or the “Company”) (TSX Venture:CVA)
announces that it is planning to change its name to Gold Rush
Cariboo Corp. The new name should better reflect the Company’s gold
production business in the Cariboo region of British Columbia. The
name change and a new trading symbol are subject to the approval of
the TSX Venture Exchange.
In addition, the Company is pleased to announce the appointment
of Conan Taylor, LLB. as a director and the new President of the
Company replacing Brian Murray who will remain as a director of the
Company. In connection with these changes, James Decker, a long
serving director of Cava has agreed to resign from the Board of
Directors with much appreciation for his past contributions.
Conan Taylor holds a Law degree from Queens University and has
been a member of the Alberta Law Society since 1997. He practiced
at a major law firm until 2002 at which time he formed his own law
firm, Taylor Janis LLP with offices in both Calgary & Edmonton.
Mr. Taylor will work from both the Toronto office and his office in
Edmonton.
Mr. Taylor commented: “I am excited to take on an active
management role as we commence operations at our Horseshoe Bend
property. With the recent purchase of Specialized Gold Processing
Equipment, we are ready to begin work to recover gold from the
sediment hosted vein deposits from which significant gold
quantities have been identified in the past. The historic
production in this region and the recent exploration success by
neighbouring Barkerville Gold Mines Ltd. and Spanish Mountain Gold
Ltd. confirm the presence of economic gold deposits in this
region.”
Other matters:
The Company has also announced that it has granted 2.7 million
stock options to certain officers, directors and consultants. The
options have a term of 3 years and are exercisable at a price of
$0.22.
About Cava Resources Inc.
In February 2018, Cava completed the acquisition of all of the
issued and outstanding shares of Gold Rush Cariboo Inc. which is
now its 100% owned operating subsidiary.
Gold Rush Cariboo Inc. acquired the Horseshoe Bend property and
an option on over 16 alluvial gold properties in southwest British
Columbia. For further details, see the Company’s press release
dated February 13, 2018.
In addition, Cava maintains its interest in its Casa Berardi
properties which comprises two non-contiguous claim groups (the
Casa Berardi North and the Cancor Extension) which are located in
the Casa Berardi area of northwestern Quebec. Cava holds a 70%
interest in these properties.
Forward-Looking Statements
Certain information set forth in this news
release may contain forward-looking statements that involve
substantial known and unknown risks and uncertainties, including,
but not limited to, the timing of future exploration work or
drilling, and the expansion of the mineralization. These
forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond the control of Cava
Resources Inc., including, but not limited to, the impact of
general economic conditions, industry conditions, volatility of
commodity prices, risks associated with the uncertainty of
exploration results and estimates, currency fluctuations,
dependency upon regulatory approvals, the uncertainty of obtaining
additional financing and exploration risk. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. This press release is not,
and is not to be construed in any way as, an offer to buy or sell
securities in the United States.
The TSXV has not reviewed this news release and does not accept
responsibility for the adequacy or accuracy of this news release.
The TSXV has neither approved nor disapproved of the contents of
this news release.
For further information contact:
R. Brian Murray,Director, 416-985-7810
Cava Resources Inc. (TSXV:CVA)
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