Business
MDN Announces Special Meeting of Shareholders
MONTREAL, QUEBEC--(Marketwired - July 19, 2016) - MDN Inc. (the "Company") (TSX VENTURE:MDN) today announced the convening of a special meeting of the Company's
About this update from Niobay Metals Inc.
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - July 19, 2016) - MDN Inc. (the \"Company\") (TSX VENTURE:MDN) today announced the convening of a special meeting of the Company's shareholders (the \"Meeting\") which will be held on September 1st, 2016 in Montreal. Further to the acquisition by the Company of the James Bay niobium project announced on June 28, 2016, and considering that the Company plans to concentrate its efforts principally on enhancing the value of this niobium project, during the Meeting, the Company will solicit the adoption by its shareholders of special resolutions authorizing the amendment of its articles (the \"Articles\") to consolidate its common shares (the \"Common Shares\"), modify the name of the Company and to authorize the Company's directors to name one or more directors between annual meetings of shareholders, as further described below. Share Consolidation In order to raise the share price to more attractive levels and to facilitate raising additional capital in the future, the Company considers it may be advisable to consolidate its issued and outstanding Common Shares. Accordingly, shareholders will be asked to consider, and if deemed advisable, to adopt a special resolution to authorize an amendment to the Articles on such basis as the directors of the Company may determine, so as to consolidate the issued and outstanding Common Shares of the Company on the basis of one (1) Common Share for a maximum of five (5) issued and outstanding Common Shares. As of this date, 119,657,539 Common Shares of the Company are issued and outstanding; should a share consolidation on the basis of a 1 to 5 ratio be implemented, a total of approximately 23,901,508 shares would be issued and outstanding. The share consolidation will not change a shareholder's proportionate interest in the Company; except that if, as a result of the share consolidation, a shareholder becomes entitled to a fractional Common Share, such fraction will be rounded down to the nearest whole number. Change of the Name of the Company The shareholders of the Company will be asked to consider, and if deemed advisable, to approve a special resolution to authorize an amendment to its Articles to modify the name of the Company from \"MDN Inc.\" to \"Les métaux Niobay inc. / Niobay Metals Inc.\" The Company wishes to adopt the name \"Les métaux Niobay inc. / ...