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AGM Aldridge Minerals Inc. (delisted)

0.095
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Aldridge Minerals Inc. (delisted) TSXV:AGM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.095 0.095 0.10 0 01:00:00

Morien Announces Highlights of AGM and Provides Project Update

19/06/2014 2:04pm

Marketwired Canada


Morien Resources Corp. ("Morien" or the "Company") (TSX VENTURE:MOX), is pleased
to announce its shareholders voted in favour of all items of business brought
before them at the Company's Annual and Special Meeting of shareholders ("AGM")
held on June 17, 2014 in Halifax, Nova Scotia. Details of the AGM are provided
below, followed by a project update. 


Results of Annual General Meeting

The number of directors was fixed at five, with Peter Akerley, John Budreski,
John Byrne, Charles Pitcher, and Philip Webster re-elected to the Company's
board of directors for the ensuing year. KPMG LLP was re-appointed as the
Company's auditor to hold office until the next annual meeting of shareholders
or until its successor is duly appointed. The shareholders also approved the
renewal of the Company's 10% rolling incentive stock option plan in accordance
with the rules and policies of the TSX-V.


Following the AGM, the Morien board of directors confirmed the appointments of
its executive officers, namely: Chief Executive Officer - John Budreski; Chief
Financial Officer - Ken MacDonald; and Corporate Secretary - Suzan Frazer. 


Project Updates

Black Point Marine Aggregate Project

In April, 2014, Morien entered into agreements ("Agreements") with Vulcan
Materials Company ("Vulcan") and the Municipality of the District of Guysborough
("MODG") for the development of the Company's Black Point Marine Aggregate
Project ("Black Point" or the "Project") in Guysborough County, Nova Scotia.


Under the terms of the Agreements, Vulcan assumed Morien's interest in Black
Point and became manager and operator of the Project, in exchange for agreeing
to reimburse Morien for previous expenditures on the Project through milestone
payments totaling $1,800,000 that culminates with the receipt of the
environmental approvals, and a royalty stream payable on all material sold from
the Project over the life of the mine.


Vulcan is the largest producer of construction aggregates in North America with
over 340 operating facilities concentrated in 18 states, the Bahamas and Mexico.
Vulcan's participation in the Black Point Project brings a world-class
international company to Nova Scotia which, with the completion of the necessary
permitting, market evaluation and feasibility studies, could lead to the
creation of many jobs and provision of tax revenue for the province.


Donkin Coal Project

The Company continues to work actively with Glencore and the Nova Scotia
provincial government on the Donkin Coal Project to bring Glencore's sale
process to a successful conclusion. During this process, Morien continues to
dedicate substantial resources to advancing all negotiations and remains
confident that an arrangement can be reached resulting in a change of ownership
for the Donkin Coal Project and moving the Project to the start of production. 


About Morien

Morien is a Canadian company focused on creating value through the
identification, acquisition and advancement of strategically located projects
that host commodities with strong market fundamentals. Its principal asset is a
25% interest in the Donkin Coal Project in Nova Scotia. Morien has 49,256,240
issued and outstanding common shares and a fully diluted position of 53,211,240.
Further information is available at www.morienres.com.


Forward-Looking Statements

This news release may contain forward looking statements based on assumptions
and judgments from management regarding future events or results that may prove
to be inaccurate as a result of exploration, development and other risk factors.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Morien Resources Corp.
John P.A. Budreski
President and CEO
(416) 930-0914


Morien Resources Corp.
Dawson Brisco
Manager Corporate Development
(902) 466-7255
info@morienres.com
www.morienres.com

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