Silver Mountain Mines Provides Update on Corporate Matters

About this update from Nevgold Corp

[{"type":"text","content":"Silver Mountain Mines Provides Update on Corporate MattersCALGARY, AB / ACCESSWIRE / April 13, 2016 / Silver Mountain Mines Inc. (TSXV: SMM) (\"Silver Mountain\" or the \"Company\") is pleased to provide an update to its shareholders on the Company's Annual and Special Meeting results and corporate matters.\nThe Company is pleased to announce that on April 5th, 2016 SMM held its annual and special meeting of shareholders (the \"Meeting\"). A total of 19,617,000 common shares (\"Shares\") (approximately 40.66% of the outstanding Shares) were represented at the Meeting in person or by proxy. All current directors of Silver Mountain were re-elected for the term or until their successors are elected or appointed, the auditors of the Company were also re-elected. Finally, over 97% of the Shares voted passed the special resolutions brought forward including a Share consolidation, Company name change, and expansion of business.\nWith current economic and financial uncertainties in the resource sector, Silver Mountain is a publicly traded company that has embarked on transforming itself into a diversified holding company to take advantage of global business opportunities. \nUnder the new business plan, current shareholders will continue to own 100% in Silver Mountain's Ptarmigan silver project and will also be able to participate in the diversification of the Company's business going forward. All necessary paperwork will be filed with respective governing bodies concurrent with signing a definitive agreement.\n\"We take great pride in our business and believe in the need to be flexible and adapt a new growth strategy in response to current market conditions. This approach better reflects the Company's growth potential and I anticipate that these changes will attract the interest of new investors and opportunities as we move into the next phase of our company's development\" says Steve Konopelky, President & CEO. \nAs part of our overall strategy to add value to the Company, the leadership team is reviewing several business opportunities within various sectors. The Company's focus is to look at cash flowing companies and/or assets by way of purchasing all or a participating interest in assets (either in one transaction or more), a merger, recapitalization, amalgamation or any combination thereof. There are no assurances that a transa...

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