Golden Cariboo Resources Ltd. (the “Company”) (TSXV: GCC | OTC: GCCFF | WKN: A0RLEP) was incorporated under the laws of the Province of British Columbia on October 6, 1988.
Historically, the Company’s principal business activity has been the exploration and development of mineral properties. The recoverability of amounts shown for resource properties is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete development, confirmation of the Company’s interest in the underlying properties and upon future profitable production or sufficient proceeds from the disposition of its resource properties.
The Company continues to investigate new exploration opportunities and mineral exploration will be carried out on properties identified by management of the Company as having favourable exploration potential. Interests in such properties are acquired in various ways. The Company, through its own efforts, can stake mineral claims or acquire mineral exploration permits. In other cases, the Company can acquire interests in mineral properties from third parties. An acquisition from a third party would typically be made either as an outright purchase (with payment of cash and/or shares) or by way of an option agreement, which requires the Company to make specific option payments and to incur a specific amount of exploration and development expenditures to vest its interests. Having incurred the specified exploration expenditures, the parties would then enter into a joint venture requiring each party to contribute towards future exploration and development costs, based on its percentage interest in the Property, or suffer dilution of its interest.
The Company advances its projects to varying degrees by prospecting, mapping, geophysics and drilling. In cases where exploration work on the Property reaches a stage where the expense and risk of further exploration and development are too high, the Company may seek a third party to earn an interest by furthering development. Optioning a Property to a third party allows the Company to retain an interest in further exploration and development while limiting its obligation to commit large amounts of capital to any one project.
CEO & DIrector
Mr. Kennedy, B.Comm., J.D., is a graduate of the University of British Columbia. After an initial career at the Federal Department of Justice, Mr. Kennedy has primarily focused as a legal, financial and business consultant to publicly-traded companies. Mr. Kennedy is currently a member of the Law Society of British Columbia, the Canadian Bar Association, the British Columbia Bar Association, and an Associate member of the American Bar Association. Mr. Kennedy is an officer and/or director of several TSX-V publicly traded companies.
Mr. Rees, B.Comm. has over 20 years experience working with mining and oil & gas companies, and has raised over $100 million in the public markets. In executive management roles, Mr. Rees has taken projects from discovery to commercial production. Mr. Rees served as a director of Barkerville Gold Mines and currently serves as a director of a number of publicly traded resource companies.
Mr. Smoliak is a Chartered Public Accountant (Chartered Accountant and Certified Management Accountant) with over 40 years experience in public practice and industry. He has broad experience in finance and management, international business experience and has held senior management positions in private and public companies. Mr. Smoliak graduated from the University of British Columbia with a Bachelor of Commerce Degree in Accounting and Management Information Systems. After university he spent five years with the Chartered Accounting firm Thorne Riddell (later merged to be KPMG) working in the areas of auditing, taxation and business valuations. He then set up and operated his own successful public accounting practice.
Glen Harder is a capital markets and corporate lawyer and practices in association with Caravel Law, a Canada-wide business law firm. He is active in corporate governance and is or has been an independent director, committee member and special committee member of numerous publicly traded and private companies.