VANCOUVER, British Columbia, July 20, 2018 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSXV:CYP) (OTCQB:CYDVF) (Frankfurt:C1Z1) ("Cypress" or the "Company") is pleased to announce that it held its annual general meeting on July 18, 2018. The Company reports that William Willoughby, Donald Huston, James Pettit, Donald Myers and Amanda Chow were re-elected directors of the Company. Shareholders also re-appointed Davidson & Company, Chartered Accountants, as auditors and approved the renewal of the Company's Incentive Stock Option Plan. Disinterested shareholders also approved the issuance of shares for professional services, as described in the information circular, to compensate Willoughby & Associates, PLLC, a private professional limited liability company controlled by William W. Willoughby, CEO and a director of the Company.
About Cypress Development Corp.:
Cypress Development Corp. is a publicly traded exploration company focused on developing the Company's 100%-held Clayton Valley Lithium Project in the State of Nevada, U.S.A.
Cypress' Clayton Valley Lithium Project is located immediately east of Albemarle's Silver Peak mine, North America's only lithium brine operation. Recent exploration by Cypress has discovered an extensive deposit of lithium-bearing claystone adjacent to the brine field. With mineralization tested by drilling over a seven-kilometer trend, the size of the deposit makes Clayton Valley a premier target that has the potential to impact the future of lithium production in North America.
Cypress Development Corp. has approx. 61.0 million shares issued and outstanding.
CYPRESS DEVELOPMENT CORP.
"Dr. Bill Willoughby"
WILLIAM WILLOUGHBY, PhD., PE
Chief Executive Officer
For further information contact myself or:
Cypress Development Corp.
Director, Corporate Communications
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
These press releases may also interest you