HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: Special Shareholder Meeting
Got my circular today for the special meeting regarding the Bridge Loan with RCF and this item.......maybe explains why Wes is gone ?
At the Meeting, the disinterested shareholders of the Company will be asked to consider and, if thought
advisable, approve the following resolution (the "Control Person Resolution"), the text of
which is as follows:
NOW THEREFORE BE IT RESOLVED THAT:
1. the granting of the Convertible Loan, and the issuance of the Conversion Rights pursuant thereto,
and Interest Shares to Resource Capital Fund V L.P., who will, upon the exercise of the
Conversion Rights and issue of the Interest Shares, become a new "Control Person" of the
Company, as such term is defined in the policies of the TSX Venture Exchange, and the creation
of Resource Capital Fund V. L.P. as a new Control Person, on such terms as more particularly
described in the management information circular of the Company dated March 26, 2013, is
hereby ratified, approved and authorized; and
2. anyone director or officer of the Company be and is hereby authorized and directed to execute
and deliver on behalf of the Company all such documents and instruments and to do all such
other acts and things as in his or her opinion may be necessary or desirable in connection with the
foregoing.
RCF WILL ABSTAIN FROM VOTING ON THE FOREGOING RESOLUTION, THE
APPROV AL OF A MAJORITY OF DISINTERESTED SHAREHOLDER OF THE COMPANY
IS THEREFORE SOUGHT.
A total of 42,403,710 Common Shares of the Company will be 'excluded from the vote to approve the
Control Person Resolution.
Directors/ Recommendation
A majority of the disinterested directors of the Board (being those directors that are not affiliated or
associated with RCP) concluded that proceeding with the Loan, granting the Conversion Rights and the
creation of the new Control Person, subject to the satisfaction of all terms and conditions, is in the best
interest of the Company and the shareholders.
The Board recommends that all shareholders of the Company vote FOR the Control Person
Resolution. The persons whose name appears in the attached form of proxy intend to vote FOR the
Control Person Resolution.
16 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply