Toronto, May 9, 2022 - Western Troy Capital Resources Inc.
(TSXV: WRY) (the "Company", or "WRY") is pleased to announce that an annual and special meeting of the common shareholders of the Company has been called for June 28, 2022 (the "Meeting"). At the Meeting, WRY shareholders will, among other things, be asked to consider, and if thought appropriate, approve the Company's proposal to change its name to "Li3 Lithium Corp" (the "Name Change"). Additional information concerning the Name Change will be included in a management information circular to be mailed to WRY shareholders in connection with the Meeting. The Name Change will also be subject to the approval of the TSX Venture Exchange.
WRY is proposing to change its name to more accurately reflect the activities and future focus of the Company. Stephen Dunn, President and Chief Executive Officer of WRY, commented: "The proposed name change reflects the Company's new strategy of focusing globally on lithium exploration and project development. We see the transition to a net-zero carbon world as providing a once-in-a-lifetime opportunity for minerals explorers to focus on the explosive growth anticipated in demand for battery metals like lithium."
WRY recently acquired a 50% interest in Li3 Resources Inc. ("Li3") whose corporate plan is to acquire an attractive portfolio of highly prospective lithium exploration projects worldwide. Li3's senior management have successfully executed similar transactions during their past 30+ year history in the mining sector.
Coincident with the change in the Company's focus to lithium, WRY also wishes to announce that Ed Milewski has resigned as a director effective today. The Company would like to thank Mr. Milewski for his years of dedicated service and support, and we wish him a long and happy retirement.
About Western Troy
Western Troy has been engaged in mineral exploration and mine development, as well as reviewing potential alternatives to enhance shareholder value. WRY, through its investment in Li3 (see news release of April, 2022), recently entered into an agreement to acquire up to net 25% interest in the Zimbabwe Mutare Lithium Project from London AIM-listed Premier African Minerals Ltd.
with an option to increase its interest to 50% on terms to be mutually agreed post completion of the initial exploration program. WRY also owns the Northern Lights Copper Property in central Nevada and has an option to earn 100% of the Warrens Nickel Property near Timmins, Ontario.
Western Troy Capital Resources
Stephen Dunn, CEO
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.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.