Business
Benton provides results of Annual General and Special Meeting of Shareholders and announces board changes
TSX-V:  BTC THUNDER BAY, ON, May 24, 2012 /CNW/ - Benton Resources Corp (BTC: TS...
About this update from Silver Valley Metals Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX-V:  BTC\n\n\nTHUNDER BAY, ON, May 24, 2012 /CNW/ - Benton Resources Corp (BTC: TSX.V, \"Benton\" or the \"Company\") is pleased to provide the results of its Annual General and Special Meeting\n of Shareholders held on May 23, 2012 in Vancouver, BC.  At the meeting,\n shareholders voted overwhelmingly in favour of all items proposed. In\n particular shareholders voted to re-appoint Wasserman Ramsay, Chartered\n Accountants as the Company's auditor, and elected the Company's\n nominees for director: Stephen Stares, Gordon Fretwell, John Harper,\n Clinton Barr, Michael Stares, Raphael Gerstel and William Harper. \n Shareholders also voted in favour of amending the shareholders rights\n plan to extend the expiration time on the plan through to the 2015\n Annual General Meeting.  Finally, shareholders approved the Company's\n previously announced spin-off transaction, to be conducted by plan of\n arrangement pursuant to section 291 of the Business Corporations Act (British Columbia).  The plan of arrangement will provide for the\n separation of the Company's 41.85% interest in Coro Mining Corp. (TSX:\n COP) from its cash, other equities, and exploration assets.   Upon\n closing of the plan of arrangement, shareholders of Benton will receive\n one share for each existing share held prior to closing in the newly\n created company to be named Benton Resources Inc., (\"Newco\") a newly\n listed issuer that will trade, upon final TSX Venture approval, on the\n TSX Venture Exchange under a symbol as yet to be determined.  Newco\n will hold all of the cash, equities and exploration assets currently\n held by Benton except for the investment in Coro Mining Corp., $730,000\n in working capital and the Goodchild property which will remain in the\n existing issuer to be renamed Benton Capital Corp.  The Company will\n update shareholders as it works towards completing the transaction.\n\n\nFollowing the meeting, the board of directors appointed the following\n officers: Stephen Stares as President and CEO, Evan Asselstine as CFO,\n Clinton Barr as Vice President Exploration, and Gordon Fretwell as\n Corporate Secretary.\n\n\nThe Company would also like to announce that Ewan Downie has stepped\n down as a director of Benton as a result of corporate governance\n initiatives at Premier ...