RE:RE:Sell or stayariesleaf wrote: Now in a waiting mode.
Company is planning a meeting at Suite 523, 999 Canada Place Vancouver, British Columbia, V6C 3E1 on Thursday, August 20, 2020, at the hour of 11:00 am (Vancouver time).
There will be voting on the following:
1. Financials
2. Number of directors (3)
3. Directors (all the same)
4. Auditor (same)
5. Share consoliadtion (100 old to 1 new)
At the Meeting, Shareholders will be asked to consider and, if thought fit, to pass with or without amendment the following as an ordinary resolution:
BE IT RESOLVED that the authorized and issued common share capital of the Corporation be altered by consolidating all of the 252,942,887 issued common shares without par value into 2,529,428 common shares without par value, on the basis that up to every one hundred 8 (100) common shares be consolidated into one (1) common share without par value, or on such lesser basis as may be approved by the Board of Directors and the TSX Venture Exchange.
6. Propsed debt selttlement and new control person
The Corporation has incurred the following debts in connection with the financing of the Corporation’s interest in the Kokopelli Project, USA (expressed in Canadian dollars) and for general working capital:
$4.25MM
Robert Hodgkinson is a director and officer of the Corporation, as well as its principal shareholder; and Charles Hodgkinson is his brother, who resides separately from Robert. Charles and Robert do not vote or act together or in concert as a group, and there is no agreement, understanding or arrangement between them or their companies to do so. . .
The Corporation proposes to settle these debts (and other debts with other creditors totalling up to $4.8 million, including the above Debt Settlements) for post-consolidated common shares of the Corporation (the “Debt Settlements”), after the new market price for the post-consolidated shares has been established in an orderly trading market on NEX. It is anticipated that the Corporation’s post-consolidated common shares will be listed on NEX at the time of the Debt Settlements.
7. Compensation / Incentive plans
Now you can make a decision - one way or the other