Guyana Goldfields Inc. proposes new board of directors for Gold Port Resources Ltd.admin
Guyana Goldfields Inc. announces that, in its capacity as a shareholder of Gold Port Resources Ltd., it has filed on SEDAR an information circular setting out a proposed new board of directors for Gold Port for election at Gold Port’s the annual general meeting to be held on September 29, 2008.
Guyana’s information circular with respect to the annual general meeting is being mailed to all shareholders of Gold Port commencing today and will be publicly available tomorrow morning on www.sedar.com under Gold Port’s profile.
Guyana is the largest shareholder of Gold Port, holding approximately 13.3% of the issued and outstanding common shares of the Company. Guyana made a significant investment in the Company in May 2007 and, since making that investment, has become increasingly concerned about the management and priorities of the Company. Guyana believes that significant changes are required to the way in which the Company conducts its operations and does not have confidence that the existing board of directors will be able to make the necessary changes.
Guyana has received confirmation from another major shareholder, who agrees that Gold Port needs a new board of directors and that he supports the appointment of the new directors proposed by Guyana Goldfields. Guyana Goldfields and the above noted shareholder hold an aggregate of 22.3% of the common shares of the Company.
Details concerning Guyana’s nominees for election to the Board of Directors of Gold Port are set out in Guyana’s information circular.
Guyana Goldfields Inc. is a Canadian based mineral exploration company primarily focused on the exploration and development of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French Guyana and northern Brazil.
Guyana holds advanced exploration projects in various stages of development and has been operating in Guyana continuously since 1996.