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Carube Copper Corp. Reports on Annual Meeting
OTTAWA, ON / ACCESSWIRE / June 27, 2016 / Carube Copper Corp. (TSXV: CUC) is pleased to repo...
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[{"type":"text","content":"Carube Copper Corp. Reports on Annual MeetingOTTAWA, ON / ACCESSWIRE / June 27, 2016 / Carube Copper Corp. (TSXV: CUC) is pleased to report on its Annual General and Special Meeting (\"AGM\") held in Carp, Ontario, on June 23, 2016. A total of 33,708,538 shares or 52% of the outstanding shares of the Company were represented at the meeting by proxy or in person. All of the matters submitted to the shareholders for approval as set forth in the Company's notice of meeting and information circular dated May 6, 2016, were approved by more than 97% of votes cast.\nAGM Approvals\nAlar Soever, Vern Rampton, Marz Kord, Jeffrey Ackert, Greg LeBlanc, and Mark Pfau were re-elected as directors. The appointment of PricewaterhouseCoopers LLP as auditors was confirmed unanimously. \nAs fully put forth and described in the Information Circular, the Stock Option Plan of the Company was approved by 99% of votes cast and the RSU/DSU Plan and the reservation for issuance of the maximum number of shares permitted under the plan were approved by 97% of the disinterested shareholders.\nOfficers and directors as of today remain:\n\n Mr. Alar Soever, P. Geol. Chairman of the Board, Independent Director\n Mr. Jeffrey Ackert, B.Sc. (Geology) President and Chief Executive Officer, Director\n Dr. Vern Rampton, Ph.D, P. Eng Executive Vice President of Corporate Development, Director\n Mr. John McNeice, C.A., CPA. Chief Financial Officer\n Mr. Chris Irwin, B.A., LL.B. Corporate Secretary and Counsel\n Mr. Darrell Munro, BB.A, LL.B Corporate Administrator\n\nIncreasing Shareholder Value\nMr. Jeffrey Ackert, President & CEO said: \"To achieve our goal, Carube Copper continues with its strategy of joint venturing a number of our projects to large well-funded companies. This will minimize the development cost to Carube, minimize dilution of the company and maximize shareholder value.\"\nTwo Major Joint Ventures\nOZ Minerals Limited, Carube Copper's partner at the Bellas Gate Joint Venture in Jamaica has completed over $8M in expenditures to earn a 70% interest in the JV. OZ Minerals has elected to sole fund Phase 5 expenditures on the Bellas Gate Project. By funding Phase 5, which includes all work to the completion of a feasibility study, OZ Minerals will earn an additional 10% interest in the project. The initial work within the Phase 5 program will includ...