Business
Red Mile Announces Voting Results of 2014 Annual and Special Meeting of Shareholders
Toronto, Ontario--(Newsfile Corp. - December 23, 2014) - Red Mile Minerals Corp. (TSXV: RDM) (...
About this update from Orla Mining Ltd.
[{"type":"text","content":"Red Mile Announces Voting Results of 2014 Annual and Special Meeting of ShareholdersToronto, Ontario--(Newsfile Corp. - December 23, 2014) - \nRed Mile Minerals Corp. (TSXV: RDM) (the \"Company\" or \"Red Mile\") is pleased to announce that at the annual and special shareholders meeting held on December 18, 2014 (the \"Meeting\"), \nthe shareholders of Red Mile ratified the Company's 10% rolling stock option plan and approved (i) the consolidation of the issued and outstanding common shares of the Company on a one (1) new share for five (5) old share basis (or such lesser \namount as the directors of the Company may determine) (the \"Share Consolidation\"); (ii) the continuation of the Company from the Business Corporations Act (British Columbia) to the Business Corporations Act (Ontario); and (iii) \nthe new by-laws of the Company pursuant to its continuation under the Business Corporations Act (Ontario). Details of the resolutions considered and approved at the Meeting are disclosed in the management information circular of the Company \ndated November 13, 2014 (the \"Circular\") available on SEDAR at \nwww.sedar.com.\n\nIn addition, each of the nominees proposed for election as listed in the Circular, being Aaron Wolfe, John Hickey, Peter Tallman and Kerry Sparkes, was elected as a \ndirector by a majority of votes to serve until the next annual meeting or until their successors are elected or appointed. At the board meeting held following the Meeting, the board accepted John Hickey's resignation as President and CEO of the \nCompany, and appointed Aaron Wolfe as President and CEO of the Company. The board also accepted David MacDonald's resignation as Chief Financial Officer of the Company and appointed John Hickey as interim Chief Financial Officer. \n\nAs of December 18, 2014, the Company had 25,689,620 common shares issued and outstanding. If implemented, the Share Consolidation will occur simultaneously for all of the Company's common shares and will affect all shareholders uniformly. Management \nexpects that the ratio for the Share Consolidation will be fixed and the Share Consolidation implemented as soon as practical. Assuming the proposed Share Consolidation occurs at a ratio of 1:5, the Company's outstanding shares will be reduced to \napproximately 5,137,924 Common Shares. The Share Consolidation will not affect a...