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IBI Affiliate Company Grey Crown Resources Limited Annual and Special Meeting Approves Proposed Transaction with Sereno Capital Corporation
IBI Affiliate Company Grey Crown Resources Limited Annual and Special Meeting Approves Proposed T...
About this update from Barrick Mining Corporation
[{"type":"text","content":"\nIBI Affiliate Company Grey Crown Resources Limited Annual and Special Meeting Approves Proposed Transaction with Sereno Capital Corporation\n\n\n Mar. 15, 2010 (Filing Services Canada) -- IBI Corp. (IBI - TSX Venture), a junior international mining and investment company, reports that IBI's affiliate company, Grey Crown Resources Limited (\"Grey Crown\"), currently a private integrated gold exploration company focused on Uganda, and owner of the Tira Gold Mine, held its Annual and Special Meeting of Shareholders (the \"Meeting\") on March 8, 2010, in Toronto, Canada.The Meeting covered the statutory requirements for the fiscal years ended December 31 2007 through 2009 as well as special matters. Including registered shareholders present at the Meeting and registered shareholder proxies, 79.0 % of the Company's shares were represented at the Meeting and voted in favour of all matters brought before the Meeting.Special Resolutions approved at the Meeting included: * the proposed transaction (the \"Transaction\") with Sereno Capital Corporation (\"Sereno\"), a Capital Pool Company listed on the TSX Venture Exchange; and* amendment of the Articles to remove the restriction from offering shares to the public. The essence of the Transaction with Sereno is that, if completed, there would be a reverse takeover of Sereno by Grey Crown, including:*  the directors of Sereno would all resign to be replaced by directors nominated by Grey Crown; * the management of Grey Crown would become the management of the new entity; and * Grey Crown as the operating business would become a listed company on the TSX Venture Exchange as the \"resulting issuer\".There are certain regulatory requirements to be met for the completion of the Transaction, including approval by the Exchange; and that Grey Crown must raise a minimum of $2.5 million in private placement financing. The Meeting elected Gary A. Fitchett as sole director of Grey Crown pending completion of the Transaction and approved the appointment of MSCM LLP, Chartered Accountants, Toronto, Canada, as auditors, until the next annual meeting which is expected to take place shortly after completion of the Transaction.-----------------------------------------------------------------------IBI Corporation OverviewUranium: Following a decision to focus on high-value minerals exploration and...