Aurwest Resources Corporation Announces Annual General Meeting Results

VANCOUVER, BC / ACCESSWIRE / March 2, 2020 / Aurwest Resources Corporation ("Aurwest" or the "Company") (CSE:AWR) announces the results of its annual general meeting (the "Meeting") of shareholders held on Friday, February 28, 2020. The Meeting was held, in part, to allow shareholders of the Company the opportunity to choose between two slates of directors, the Management Directors' slate and the Concerned Shareholders' slate as more particularly set out in the management information circular dated January 28, 2020 and the Concerned Shareholders dissent proxy circular dated February 7, 2020, respectively, as filed on SEDAR.

A total of 7,382,852 common shares were represented at the Meeting either in person or by proxy representing approximately 57.22% of the issued and outstanding shares of the Company.

Advance proxy votes received in favour of the Concerned Shareholder's nominees totaled approximately 5,400,324 shares or 41.85% compared to 1,966,025 shares or 15.24% for management's nominees. In response thereto, management's directors withdrew their nominations for re-election as directors at the Meeting and the Concerned Shareholders' nominees, being Colin Christensen, Cameron MacDonald, Warren Brown and Elmer Stewart were elected as directors of the Company to hold office until the next annual general meeting or their successors are elected or appointed.

Colin Christensen has also been appointed as the Company's new President and Chief Executive Officer and the remainder of the Company's officers, including a new chief financial officer, will be appointed in due course.

Mr. Christensen has over 35 years of active participation in the Canadian public equity markets, 10 years as a financial advisor in the investment community, and 25 years as a director and/or officer of various public resource companies listed on the TSX Venture Exchange. Mr. Christensen's public company experience has included the financing, managing and directing of mineral exploration activities in Eastern Europe, the financing and development of two small scale heap leach gold mines in Kazakhstan, and the acquisition, financing, and project development of various mineral projects in North America. Mr. Christensen holds a Bachelor of Commerce degree from the University of Calgary.

The Company's new management and directors are eager to begin the work required to move Aurwest forward, including implementing the Financial Plan as set out in the Dissident Proxy Circular dated February 7, 2020 available for review at www.sedar.com. The Financial Plan is specifically structured to reverse the Company's position by improving the current working capital deficiency and negative balance sheet structure. Furthermore, this plan will provide market liquidity and growth through strategic financings and a marketed corporate profile to attract new investors.

Additionally at the Meeting, the shareholders re-appointed Charlton & Company as the auditors of the Company.

Colin Christensen commented "On behalf of the Board I would like to express my sincere gratitude to all those who supported us in this re-organization, and to those who did not vote for us we hope to soon earn your support as we move forward."

About Aurwest Resources Corporation

Aurwest is a Canadian-based junior mining/exploration company focused on the procurement, exploration and development of gold, silver and other precious and base metal properties in North America. The Company currently holds a 100% interest in the Stellar copper/gold Project, located approximately 25 kilometres southwest of Houston British Columbia. The Stellar project consists of the Stellar claims (3,174 hectares) and the Buckley claims (15,317 hectares).

On Behalf Of Aurwest resources Corporation

Colin Christensen

President and Chief Executive Officer

For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: colinc8@telus.net

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

SOURCE: Aurwest Resources Corporation

ReleaseID: 578552