VANCOUVER, May 29, 2017 /CNW/ - Rye Patch Gold Corp. (TSX.V:
RPM; OTCQX: RPMGF; FWB: 5TN) (the "Company" or "Rye Patch")
wishes to provide shareholders with an update in respect of its
management information circular dated April 28, 2017 (the
"Circular") in connection with its annual general meeting of
shareholders of the Company to be held on Tuesday, June 6, 2017 (the "Meeting").
The Company wishes to make certain clarifications relating to
fees paid to its external auditor, PricewaterhouseCoopers LLP
("PwC") for the 2016 fiscal year;
- Of the $156,891 in Tax Fees paid
to PwC:
-
- $20,020 pertains to tax
compliance and preparation;
- $28,321 relates to advice and
consulting; and
- $108,550 relates to due diligence
tax work and assistance to legal counsel in relation to the
Company's acquisition of the Florida Canyon gold mine and are
one-time in nature; and
- The entirety of the Other Fees paid to PwC, equal to
$58,000, were incurred for due
diligence in connection with the Florida Canyon gold mine
acquisition.
The Board has approved certain further changes to the renewal
Stock Option Plan (the "Option Plan") that is subject to
shareholder approval at the Meeting. For greater certainty, if the
Option Plan is approved by shareholders at the Meeting, any of the
following amendments will now require shareholder approval:
- Any amendment to the Option Plan that results in any increase
in the number of shares reserved for issuance under the Option
Plan;
- Any reduction in the exercise price, or cancellation and
reissue, of an option granted or other entitlements under the
Option Plan;
- Any amendment to an option granted under the Option Plan that
extends its term beyond the original expiry;
- Any amendment to the Option Plan that would permit options
granted under the Option Plan to be transferable or assignable
other than for normal estate settlement purposes; and
- Any amendment to the Option Plan amendment provisions.
About Rye Patch Gold Corp.
Rye Patch Gold Corp. is a Nevada based, Tier 1, mining company engaged
in the mining and development of quality resource-based gold and
silver mines and projects along the established Oreana trend in
west central Nevada. Leveraging
its strong financial position and cash to acquire the operating
Florida Canyon Gold Mine, Rye Patch Gold Corp. now controls a
trend-scale platform with operations, replacement assets and
exploration upside. The combination of operations and exploration
concentrated along a major Nevada
gold trend positions Rye Patch as an emerging mid-tier gold
producer with tremendous value added potential. For more
information, please visit our website at www.ryepatchgold.com.
On behalf of the Board of Directors
'William Howald'
William C. (Bill) Howald, CEO
& President
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.
SOURCE Rye Patch Gold