Vancouver, British Columbia–(Newsfile Corp. – December 18, 2018) – WPC Resources Inc. (TSXV: WPQ) (FSE: 5WP) (“WPC” or the “Company”) reports that its Annual and Special Meeting of Shareholders (the “Meeting”) was held on December 17, 2018. A total of 32.4 million shares were voted by proxy representing 25.0% of the Company’s issued and outstanding common shares. All items were passed by the shareholders. The following is a summary of the voting details:
| Resolution | Votes For | % of Votes For | Votes Against or Withheld | % of Votes Against or Withheld |
| Number of directors (5) | 32,254,040 | 99.48% | 170,000 | 0.52% |
| Judy Baker | 31,474,040 | 97.07% | 950,000 | 2.93% |
| Klaus G. Schmid | 31,474,040 | 97.07% | 950,000 | 2.93% |
| Robert Metcalfe | 31,474,040 | 97.07% | 950,000 | 2.93% |
| Dr. Georg Pollert | 32,204,040 | 99.32% | 220,000 | 0.68% |
| Kenneth R. Yurichuk | 31,504,040 | 97.16% | 920,000 | 2.84% |
| Appointment of Auditors | 32,224,040 | 99.38% | 200,000 | 0.62% |
| Stock Option Plan | 26,923,040 | 83.03% | 5,501,000 | 16.97% |
| Shareholdings of Large Shareholder | 28,231,040 | 87.07% | 4,193,000 | 12.93% |
The Company is also pleased to welcome its three new directors to the Board, joining incumbent members, Messrs. Metcalfe and Yurichuk. Ian Graham and Stephen Wilkinson did not stand for re-election. Mr. Graham will continue to act as advisor to the Board and Stephen will remain President and CEO of the Company.
The Company’s New Directors
Judy Baker is the founder and CEO of Argo Gold and has 25 years of experience in capital markets including equity analysis, restructuring, fund management, and mineral exploration and mining company activity. Judy Baker was also the founder of Superior Copper and Canada Lithium. Ms. Baker holds an Honours B.Sc. Geological Engineering in Mineral Resources Exploration from Queen’s University (1990) and an M.B.A. from Ivey Business School (1995).
Klaus Schmid has been a banker for more than 45 years, focused mainly in corporate and investment banking in Germany. He works for the Sparkasse in Haslach/Black Forest. Mr. Schmid studied at the Administrative and Business Academy Freiburg, Germany. He continued with ongoing certifications and achieved the highest level of licensed certifications which allows him to run a bank. He was one of the first investors in the EURASIA Holding. This company has supported the development of Osisko on an ongoing basis in Canada right from the early beginnings. Through his investments in numerous resource companies he is familiar with the junior markets, particularly in Europe and North America.
Dr. Pollert is an accomplished technical and financial executive. In 1982 Dr. Pollert received his PhD in chemical engineering from the University of Clausthal in Germany. Over the next 18 years, his career advanced through acting as the head of process technology and technical marketing to the executive management team at Feld & Hahn in Bendorf. While at Feld & Hahn, Dr. Pollert became responsible for the entire technical area and participated in the building of the first large scale continuous bio-diesel plant in Germany. In 2000 and after two years as an independent consulting engineer, he and a partner founded Arbeitsgemeinschaft Qualitätsmanagement Biodiesel, a company for the production of biodiesel in Bitterfeld near Leipzig, Germany. In 2006, he and his partner also founded Verbio AG, where they concentrated all bio-energy-activities. There he was the COO until 2011. Since that time, he has been a Member of the Supervisory Board. Verbio AG is now the leading independent bio-energy producer in Germany.
Stephen Wilkinson, CEO and President commented, “The Company is embarking on a new path that in our opinion will lead to improved corporate governance with our reconstituted board of independent members. Each of our directors possesses experience and education that are uniquely complementary and will guide the management team through the next steps of property development.”
About WPC Resources Inc.
WPC is a Vancouver-based gold exploration company focused on mineral exploration and development within Nunavut, Canada. The Company through its subsidiary, Inukshuk Exploration Inc., owns the highly perspective 8,015 ha Hood River gold property located contiguous to the Ulu mining lease. WPC has a definitive agreement to acquire the Ulu, an advanced exploration project. The Company has 129.6 million shares issued and is listed on the TSX Venture Exchange with the trading symbol: WPQ. The Company website is: www.wpcresources.ca.
For further information, please contact:
Stephen Wilkinson, President and CEO
Telephone: +1 778-379-1433
Email:
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain “forward-looking information” within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including the expected completion of the Placement and the timing thereof, and the expected use of proceeds are forward-looking statements and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.