Canyon settles indebtedness for accrued management fees and loans

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[{"type":"text","content":"\n\n\nTSXV: CNC\n\n\nVANCOUVER, July 16, 2013 /CNW/ - Canyon Copper Corp. (\"Canyon\") (TSX-V: CNC) announces that it has settled approximately\n $475,000 in amounts owed to a former officer and director of Canyon for\n outstanding management consulting fees and loans payable, and an\n additional $275,000 owed to Benjamin Ainsworth, Canyon's current Chief\n Executive  Officer and President for outstanding management consulting\n fees.\n\n\nAnthony R. Harvey, Canyon's former Chairman and Chief Executive Officer,\n agreed to cancel CAD $275,000 in unpaid management consulting fees\n payable to ARH Management Ltd., Mr. Harvey's management consulting\n company, and agreed to settle CAD $150,000 and USD $50,000 in loans\n payable, plus  accrued interest, for a total CAD $20,000.\n\n\nIn addition to the settlement with Mr. Harvey, Mr. Ainsworth agreed to\n cancel CAD $275,000 in unpaid management consulting fees payable by\n Canyon to Ainsworth-Jenkins Holdings Inc., Mr. Ainsworth's consulting\n company.\n\n\nMr. Ben Ainsworth commented, \"This was a prudent financial decision that\n will assist in the potential growth and financing of the Company.\"\n\n\nOn behalf of the Board of Directors,\n\n\n\"Benjamin Ainsworth\"\n\n\nCANYON COPPER CORP.Benjamin Ainsworth, President\n\n\nNEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS\n THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)\n ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.\n\nSOURCE: Canyon Copper Corp.\n\n\n Contact:  Canyon Copper Corp. Investor Relations 1-888-331-9326 (604) 331-9326 (604) 684-9365 (FAX)[email protected] Copyright CNW Group 2013","length":2720,"tagName":"div"}]

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