TORONTO, May 25, 2018 /CNW/ - Orefinders Resources Inc.
("Orefinders" or the "Company") (TSX.V: ORX) is pleased to announce
that its shareholders have approved all resolutions brought before
them at the Company's Annual General and Special Meeting of
Shareholders held on May 24, 2018, in
Toronto, Ontario.
"Our board, composed of Stephen
Stewart, Alexander Stewart,
Charles Beaudry, Jeffrey Becker and Claude Bouchard, is happy to have been
re-elected again to represent Orefinders on behalf of its
shareholders. Furthermore, we are especially pleased to announce
the overwhelming shareholder approval for the Power Ore Inc. Plan
of Arrangement and spin off. Orefinders will now proceed to seek
final Court approval of the Plan of Arrangement and thereafter
Power Ore will proceed with its final filings with the TSX Venture
Exchange with a view to closing the spin-off on or about
May 31, 2018 and listing the shares
of Power Ore on the TSXV as soon as possible after closing," said
Stephen Stewart Orefinders CEO.
The motions passed with the following results:
MOTIONS
|
NUMBER OF
SHARES
|
PERCENTAGE OF
VOTES CAST
|
FOR
|
AGAINST
|
WITHHELD/
ABSTAIN
|
FOR
|
AGAINST
|
WITHHELD/
ABSTAIN
|
STEPHEN
STEWART
|
45,070,216
|
0
|
36,000
|
99.92%
|
0.00%
|
0.08%
|
ALEXANDER
STEWART
|
45,070,216
|
0
|
36,000
|
99.92%
|
0.00%
|
0.08%
|
CHARLES
BEAUDRY
|
45,070,216
|
0
|
36,000
|
99.92%
|
0.00%
|
0.08%
|
JEFFREY
BECKER
|
45,070,216
|
0
|
36,000
|
99.92%
|
0.00%
|
0.08%
|
CLAUDE
BOUCHARD
|
45,070,216
|
0
|
36,000
|
99.92%
|
0.00%
|
0.08%
|
APPOINTMENT OF
AUDITORS
|
43,043,216
|
0
|
2,063,000
|
95.43%
|
0.00%
|
4.57%
|
NUMBER OF
DIRECTORS
|
45,070,216
|
36,000
|
0
|
99.92%
|
0.08%
|
0.00%
|
STOCK OPTION
PLAN
|
45,070,216
|
36,000
|
0
|
99.92%
|
0.08%
|
0.00%
|
SPIN-OUT OF
POWERORE
|
45,105,216
|
1,000
|
0
|
100.00%
|
0.00%
|
0.00%
|
TOTAL SHAREHOLDERS
VOTED BY PROXY:
|
54
|
TOTAL SHARES
ISSUED & OUTSTANDING:
|
90,443,656
|
TOTAL SHARES
VOTED:
|
45,106,216
|
TOTAL % ORX SHARES
VOTED:
|
49.87%
|
Orefinders would also like to announce that in accordance with
the Company's Stock Option Plan, a total of 200,000 incentive
options have been granted to its recently appointed Corporate
Development Manager, Gautam
Narayanan, at an option exercise price of $0.10 per share, exercisable for a period of five
years from the date of issue.
For information and updates on Orefinders, please visit:
www.orefinders.ca
And please follow us on Twitter @OrefindersR
Neither 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. Certain information in this press release
may contain forward-looking statements. This information is based
on current expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Orefinders. Additional information identifying risks
and uncertainties is contained in filings by Orefinders with
Canadian securities regulators, which filings are available under
Orefinders' profile at www.sedar.com.
SOURCE Orefinders Resources Inc.