Business
WGI Heavy Minerals Shareholders Vote Overwhelmingly for Company Nominees to Board of Directors
COEUR D'ALENE, ID, June 25 /CNW/ - WGI Heavy Minerals, Incorporated (TSX: WG) today announced tha...
About this update from Nickel Creek Platinum Corp.
[{"type":"text","content":"\n\n\n\nCOEUR D'ALENE, ID, June 25 /CNW/ - WGI Heavy Minerals, Incorporated\n(TSX: WG) today announced that the Company's nominees to the Board of\nDirectors received overwhelming support at the Annual General Meeting held in\nToronto.\n\n\nApproximately 80% of the votes cast at the meeting supported WGI's\nnominees to the Board. The nominees proposed by dissident shareholder Passport\nCapital LLC ("Passport") approximately received 20% of the votes. At the\nmeeting, the Company nominees were supported by approximately 95% of the votes\nfrom shareholders other than Passport.\n\n\nAs a result of the shareholder vote, the Company's Board of Directors\nconsists of Chairman Covell Brown, Robert Ackerman, Michael Burns, Mark Curry,\nGregory Emerson, Gordon Fear and Kitson Vincent. Shareholders also established\nthe number of directors at seven.\n\n\nTotal votes for the Company nominees were 15.3 million, compared with\n3.9 million for the Passport nominees.\n\n\n"We welcome the support from our shareholders which gives your Board a\nstrong mandate to complete the sale of WGI's 74% interest in Transworld Garnet\nIndia (Pvt.) Limited to expedite the announced special distribution of US$0.80\nper WGI share, and to rebuild the value of the Company," said Mr. Brown. "With\nnew senior management in place, we will continue to identify and act on growth\nopportunities with the potential to add value for our shareholders."\n\n\nAbout WGI\n\n\nWGI Heavy Minerals, Incorporated is a fully integrated miner, producer,\nand marketer of industrial-grade minerals and replacement part for ultra-high\npressure waterjet cutting systems. The Company's shares are listed on the\nToronto Stock Exchange under the symbol WG.\n\n\nThis press release contains forward-looking statements concerning the\nbusiness, operations, and financial performance and condition of WGI Heavy\nMinerals, Incorporated. A number of the matters discussed and statements made\nin the press release contain forward-looking statements reflecting current\nexpectations regarding future assets. When used in this press release, the\nwords "believe", "anticipate", "intend", "estimate", "expect", "project", and\nsimilar expressions are intended to identify forward-looking statements,\nalthough not all for...