|By Marketwired .||
|June 2, 2014 08:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/03/14 -- Avanti Mining Inc. (TSX VENTURE:AVT)(PINKSHEETS:AVNMF) ("Avanti" or the "Company") is pleased to announce voting results from its annual meeting held on May 28, 2014 (the "Meeting"). At the Meeting, shareholders voted in favour of fixing the number of directors of Avanti at five, and the following management nominees were appointed as directors to hold office until the next annual meeting of shareholders or until their successors are elected or appointed: Mr. Gordon J. Bogden, Mr. Jasper Bertisen, Mr. Peter Roberts, Mr. Mark A. Smith and Mr. Robert Francis.
The Avanti Board of Directors thank Mr. Craig Nelsen and Mr. Mark Premo for their dedication and contributions to the Company throughout their tenure as directors of Avanti. Mr. Nelson was a Co-founder of Avanti and served as President and Chief Executive from its inception in 2006 to October 2013 when he moved to the role of Executive Chairman and was instrumental in the development of the Kitsault Mine Project. Mr. Premo was appointed to the role of President and Chief Executive in October 2013 through March 2014. Mr. Nelson and Mr. Premo did not stand for re-election at the Meeting. The Avanti Board also thanks Mr. A.J. Ali for his contributions in advancing the Company and the Kitsault Mine Project as a Co-founder and Chief Financial Officer of Avanti. Mr. Ali will continue in his current role of Executive Vice President until June 30, 2014, at which time he will retire from Avanti.
Mr. Mark A. Smith, Chairman said, "On behalf of the Board of Directors, I wanted to thank Messrs. Nelsen and Ali as Co-founders of the business, for their contribution over the years that helped move Avanti Mining and the Kitsault Mine Project forward. The Board also thanks Mr. Premo for his contribution to the company. We wish all three gentlemen all the best in their future endeavours."
Shareholders also voted in favour of re-approving the Company's stock option plan, and the re-appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as the auditors of Avanti at the Meeting.
Subsequent to the Meeting, the Company appointed Mario Caron to its board of directors. Mr. Caron is the former President and Chief Executive Officer of Aldridge Minerals Inc. and Axmin Inc., and has previously sat on the board of directors of Marengo Mining Limited, Orosur Mining Inc., Vaaldiam Mining Inc. and First Uranium Corporation. Mr. Caron holds a Bachelor's degree in Mining Engineering and is a member of the Quebec Order of Engineers and the Association of Professional Engineers of Ontario.
Avanti further announces that it has cancelled 1,000,000 incentive stock options granted to an officer of Avanti on April 30, 2014 at an exercise price of C$0.07 per share in accordance with the Company's stock option plan approved by shareholders at the Meeting.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Avanti Mining Inc.
Gordon J. Bogden
President & Chief Executive Officer
Avanti Mining Inc.
Graham du Preez
Chief Financial Officer
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