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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Soho Resources Corp. | TSXV:SOH | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
All matters tabled for consideration, as outlined on the Company's Notice of Annual General and Special Meeting of Shareholders, were unanimously approved at the meeting by represented shareholders. A brief list of the most important items are discussed below.
Election of Directors
Incumbent Directors, Ralph Shearing, P.Geol, William Carl (Bill) Howald, B.Sc., Art Freeze, P.Geo, Yao Sun and Lianxi Zhang were all elected to the Board for another year. In addition, Mr. John Lynch and Mr. John Anderson where elected to the Board of Directors for the ensuing year. Mr. Paul Chung has stepped down as a Director but will be staying involved with Company in an advisory position.
New Directors' information:
-- Mr. John Lynch is a businessman with extensive expertise in corporate management and administration as well as experience in corporate governance. Mr. Lynch has been a member of both private and publicly traded organizations, and has worked well with several public companies in the resource sector. Mr. Lynch is currently President and CEO and a director of NWT Uranium Corp., a company listed on the TSX Venture Exchange (the "Exchange") based in Toronto, Ontario. John also serves on the Board of Directors of Niger Uranium Limited and has been a director of Hana Mining Ltd since May 2001. He was also a former defensive back with the Canadian Football League's Ottawa Roughriders. -- Mr. John Anderson has been an advisor to the Company since 1998 and has over 20 years experience in the financing and promotion of small to mid- cap public companies. He is currently President of Purple Fish Capital Management, a private equity firm engaged in the financing of both private and public companies in North America, Europe and Asia. He is also a director on the boards of other junior resource companies. Mr. Anderson holds a B.A. from the University of Western Ontario.
Appointment of Auditors
Shareholders also approved the appointment of Davidson & Company as auditors for the Corporation for another year.
2010 Stock Option Plan
Shareholders approved the Company's 2010 Stock Option Plan. The 2010 Stock Option Plan requires the approval of the TSX Venture Exchange.
New Control Person
Shareholders approved the possible creation of a new "Control Person" of the Company, as described under the policies of the TSX Venture Exchange, which may result from the subscription of convertible debenture units by way of a non-brokered private placement by Mr. Lianxi Zhang, a director of the Company.
Potential Consolidation of the Issued and Outstanding Common Shares of the Company
Shareholders approved the possible consolidation of all the issued and outstanding common shares of the Company on the basis of up to five old common shares for one new common share, or on such other basis as may be approved by the Board of Directors and the applicable regulatory authorities, and further authorizing the directors in their sole discretion when and if to effect the consolidation. The proposed consolidation was predicated on the view that it may be necessary in order to obtain additional equity financing.
Management wishes to inform shareholders that it has received serious expressions of interest from a number of parties to provide equity funding to the Company in its current form, on an unconsolidated basis, if management is successful in achieving the funding currently under discussion, it will not proceed with the consolidation of the Company's shares and the consolidation as outlined in the information circular and approved by the Company's shareholders will be not be implemented.
ON BEHALF OF THE BOARD OF DIRECTORS
Ralph Shearing, Chief Executive Officer
WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.
Shares Issued - 154,013,693
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Soho Resources Corp. Mr. Glen Sandwell Corporate Contact (604) 684-8071 or Toll Free: 1-800-685-0576 ir@sohoresources.ca www.sohoresources.ca
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