--(Marketwire - ) - (TSX VENTURE:VMS) ("VMS" or "the Company") is pleased to announce that all resolutions placed before shareholders at its Annual General Meeting held today (the "AGM") were passed. In particular, the following were elected as directors of the Company to hold office for the ensuing year:
Dr.
The Company also wishes to announce that it received shareholder approval at the AGM to a shareholder rights plan, as adopted by the Company on (the "2011 Rights Plan"). The 2011 Rights Plan supersedes and replaces the Company's prior shareholder rights plan which expired as of the AGM.
The 2011 Rights Plan is intended to provide for the fair treatment of shareholders in connection with any take-over bid for the Company. It is designed to provide sufficient time for the board of the Company and its shareholders to consider any unsolicited take-over bid without undue pressure and to give the Company's board time to consider alternatives to maximize shareholder value.
Pursuant to the 2011 Rights Plan, each holder of record of the shares of the Company on the close of business on , and the holders of any shares issued thereafter, will be issued one right per common share. These rights will trade with the common shares and be represented by the certificates representing the common shares.
The 2011 Rights Plan will remain in effect until the close of business on the day following the Company's Annual General Meeting in 2014.
A copy of the 2011 Rights Plan is available for viewing at www.sedar.com.
The 2011 Rights Plan is similar to shareholder rights plans adopted by numerous other Canadian public corporations. The Company is not aware of any current, pending or threatened take-over bid for the Company.
About
is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of . The Company's VMS project property portfolio consists of the , , , and . Outside of the camp, the Company holds massive sulphide prospective properties near the past producing and Ruttan copper-zinc mines, near the communities of and in northern . These properties are located in the mining friendly , Canada. The Company also has optioned three properties in the mining camp. They are Terra Incognita, and .
owns approximately 45% of (TSX VENTURE:NAN). For more information on , please visit www.northamericannickel.com.
ON BEHALF OF THE BOARD OF DIRECTORS
, President
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: President 604-986-2020 or Toll Free: 1-866-816-0118 Director 604-986-2020 or Toll Free: 1-866-816-0118 www.vmsventures.com