Business
Omineca Provides Update on Wingdam Project and Rescheduling of Annual General Meeting
Omineca Provides Update on Wingdam Project and Rescheduling of Annual General Meeting Cranbr...
About this update from Omineca Mining And Metals Ltd.
[{"type":"text","content":"\nOmineca Provides Update on Wingdam Project and Rescheduling of Annual General Meeting\n\nOmineca Provides Update on Wingdam Project and Rescheduling of Annual General Meeting \nCranbrook, British Columbia CANADA, May 02, 2013 /FSC/ - Omineca Mining and Metals Ltd. (OMM - TSX Venture), (\"Omineca\") announces that its annual and special shareholder meeting originally scheduled for May 29, 2013 has been postponed. Omineca has entered into a letter of intent whereby Omineca has the exclusive right to acquire all issued and outstanding shares of CVG Mining Ltd. (\"CVG\"), a private British Columbia corporation which controls a 100% interest in the Wingdam and Fraser Canyon projects (see OMM news release December 4, 2012). This reverse take-over (\"RTO\") transaction requires approval at the shareholder meeting, which is being postponed pending completion of additional due diligence and documentation, including receipt of audited financial statements from CVG for its recently completed 2012 year end. \nOmineca management remains fully committed to developing the Wingdam project and is confident that the proposed RTO transaction will receive TSX Venture Exchange and shareholder approval.  Notice of the new meeting date will be announced once it has been determined.  Omineca still intends to utilize the Notice and Access provisions of National Instrument 54-101 and National Instrument 51-102 for the meeting, as initially reported in the notice dated March 25, 2013.\nOmineca is continuing to advance the Wingdam and Fraser Canyon projects. As well as completing exploration work on the two projects (see OMM news release April 3, 2013), Omineca is working on a revised mine plan that will be implemented upon resumption of production at the Wingdam. As operator of the project, Omineca has established an interim arrangement with CVG to facilitate the ongoing work at the Wingdam project. \nAbout the Wingdam/Lightning Creek Project \nThe Wingdam Project provides a unique opportunity for Omineca to acquire near-term gold production in a proven district. The property overlies both placer and hard-rock tenures along the Deep Lead Channel of Lightning Creek, where topographic conditions have created a deep overburden accumulation which effectively resulted in a large portion of the channel being excluded from conventional surf...