Nov 16, 2016
Barisan Gold Corp. Announces AGM Results and Shareholder Approval to Change Name to Lithion Energy Corp.
Barisan Gold Corporation (TSXV-BG) (the "Company") is pleased release the results of the company's Annual & Special General Meeting of shareholders held on November 14, 2016 in Vancouver. The results include the shareholder approval of Barisan Gold changing its name to Lithion Energy Corp. as well as the share consolidation, which change of name shall reflect the acquisition of the Railroad Valley Lithium Property located in Nevada, and the Black Canyon Lithium Property located in Arizona and associated company restructuring once approval of the TSX Venture Exchange has been granted of such transactions.
Final approval by the TSX Venture Exchange is required, at which time the Company will merge the corporate finance and geotechnical experience of Lithion Energy Corp.'s new management and Board of Directors with the geological expertise of Dahrouge Geological Consulting Ltd. that will provide the geologic consulting work at both Lithium properties being acquired. Following Exchange approval, the Company will trade under its new name Lithion Energy Corp. with the new symbol LNC.
Management Team & Board of Directors
New Officers appointed - Mr. Darren Smith, M.Sc., P. Geol. - Senior Geologist, as Vice President of Exploration & Director and Ms. Karen Dyczkowski as Chief Financial Officer. Mr. Smith is a career geologist with a wealth of experience in the lithium and rare metals field. Most recently, he was involved in the discovery and advancement of Commerce Resources Corp's Ashram Rare Earth Deposit in northern Quebec. Mrs. Dyczkowski has served as Controller & Corporate Secretary of Barisan Gold and its predecessor companies for the past decade.
New Board of Directors elected - The new board will be composed of 4 new members. In addition to Mr. Darren Smith, the Board of Directors will include the expertise of Shawn Westcott as well as two highly qualified Independent Directors, Mrs. Jenna Hardy, P. Geo, and Mr. Scott Eldridge. Shawn Westcott serves as President of Barisan Gold Corp. and vice President, Corporate Development for King & Bay West. Ms. Hardy is the Principal of Nimbus Management Ltd., a metals and mining consultancy firm and has worked for a number of junior and senior resource issuers on projects in North and South America from the grass roots stage, to mining operations, and in commodities ranging from lithium, fluorspar, graphite, rare metals to industrial minerals. Mr. Eldridge is a co-founder & President of Euroscandic International Group Inc., a private company offering accounting and investment banking services to natural resource companies, as well as Chief Financial Officer of Amarillo Gold Corp., a gold developer focussed on projects in Brazil.
Share Consolidation Approved
The consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the "Consolidation") was also approved. The Board has concluded that the Consolidation would be in the best interests of the Shareholders as it could lead to increased interest by a wider investor audience and better position the Company to obtain financing and pursue acquisition opportunities.
Neither 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.
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FOR FURTHER INFORMATION, visit the Company's website at www.barisangold.com, or contact:
Investor Relations Vancouver
T: +1 604 365 6681
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