Business
Laurion Announces Voting Results of Its Annual and Special Meeting of Shareholders and an Update Regarding Strategic Investment
Toronto, Ontario--(Newsfile Corp. - August 5, 2015) - Laurion Mineral Exploration Inc. (TSX.V...
About this update from Laurion Mineral Exploration Inc.
[{"type":"text","content":"Laurion Announces Voting Results of Its Annual and Special Meeting of Shareholders and an Update Regarding Strategic InvestmentToronto, Ontario--(Newsfile Corp. - August 5, 2015) - Laurion Mineral Exploration Inc. (TSX.V: LME) (OTC Pink: LMEFF) (\"Laurion\" or the \"Corporation\"), is pleased to announce the voting results of the Annual and Special Meeting of Shareholders of the Corporation that was held on July 29, 2015 (the \"Meeting\"). The Corporation hereby advises that the following resolutions were passed at the Meeting:The number of directors be fixed at ten, conditional upon completion of the Private Placement (as defined below).The election of the slate of directors set out in the Corporation's Management Information Circular dated June 30, 2015.The reappointment of Collins Barrow LLP as auditors of the Corporation for the ensuing year and the authorization of the directors of the Corporation to fix their remuneration.The approval of a private placement of Common Shares of the Corporation (the \"Common Shares\") to Vara Minerals LP (\"Vara\") in three tranches for aggregate gross proceeds of C$6.0 million (the \"Private Placement\"), the creation of a new \"control person\" (as defined in the TSX Venture Exchange Corporate Finance Manual) in connection with the Private Placement, and the waiver of the application of section 3.1 of the amended and restated shareholder rights plan dated February 15, 2013, which would be triggered as a result of the issuance of the second and third tranche of the Private Placement.The approval and ratification of the renewal of the Corporation's rolling stock option plan.The approval of the consolidation of the Corporation's issued and outstanding Common Shares into one new Common Share for up to every ten pre-consolidation Common Shares, or such other ratio as may be accepted by the relevant regulatory authorities and approved by the directors of the Corporation.At the Meeting, management of the Corporation delivered an update on the timing of the Private Placement; announcing that the closing of the Private Placement had been temporarily delayed. The Corporation is actively working towards completing the Private Placement as soon as practicable. The Corporation will provide a further update as to the closing date. About LaurionLaurion's Ishkoday Discovery Property is contained within a ...