Japan Gold shareholders approve all matters at AGSM
Japan Gold shareholders approve all matters at AGSM
2017-07-17 09:36 ET - News Release
Shares issued 55,789,409
JG Close 2017-07-13 C$ 0.30
Mr. John Proust reports
JAPAN GOLD ANNOUNCES RESULTS FROM ANNUAL GENERAL AND SPECIAL MEETING
All resolutions were passed by the requisite majority at Japan Gold Corp.'s annual general and special meeting of shareholders held on July 14, 2017, in Vancouver, B.C. Each of the nominees for election as directors listed in the Company's management information circular dated June 12, 2017, were elected as directors of the Company for the ensuing year by a majority of the votes cast by shareholders present or represented by proxy at the Meeting. The directors are John Proust, Michael Andrews, John Carlile, Robert Gallagher, Mitsuhiko Yamada, Sally Eyre and David Farrell. In addition, at the Meeting all resolutions put to a vote were passed, including the resolutions to approve: the re-appointment of Ernst & Young LLP as the auditor of the Company for the ensuing year;***** the Company's stock option plan; and the Company's private placement (the "Private Placement") with Southern Arc Minerals Inc. ("Southern Arc") for gross proceeds of $5 million. The Private Placement will consist of 12,500,000 units at a price of $0.40 per unit. Each unit will consist of one common share of the Company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.40 per share for a period of 5 years. Southern Arc, a related party of the Company, is proposed to be the sole subscriber in the Private Placement. On closing of the Private Placement, Southern Arc will own 53.08% of Japan Gold's issued and outstanding common shares. Of the votes cast at the Meeting, approximately 99.98% of the Company's shareholders voted in favour of the resolution approving the Private Placement.*****
In accordance with the policies of the TSX Venture Exchange ("TSXV") and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (MI 61-101), Southern Arc and Japan Gold obtained minority shareholder approval to the terms of the Private Placement in respective shareholder meetings held on July 14, 2017.
The closing of the Private Placement is subject to Southern Arc and Japan Gold obtaining regulatory approvals, including the approval of the TSXV. The units (and securities underlying the units) to be issued under the Private Placement will be subject to a four-month hold period from the date of closing in accordance with applicable securities legislation.
Details of the Private Placement are set out in the press release dated June 5, 2017 and the Company's Information Circular, dated June 12, 2017, filed on SEDAR.
About Japan Gold Corp.
Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold and copper-gold exploration in Japan. The Company has applied for 173 prospecting rights licenses in Japan for a combined area of 57,337 hectares over eleven separate projects. Thirty-two of the applications have been granted as Prospecting Rights. The applications cover areas with known gold occurrences and a history of mining, and are prospective for both high-grade epithermal gold mineralization and gold-bearing lithocaps, which could indicate the presence of porphyry mineralization. Japan Gold's leadership team has decades of resource industry and business experience, and the Company has recruited geologists and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com.
Not saying to buy or sell..
GLTA.Ron