Business
Annual and Special Meeting Results
Annual and Special Meeting Results
About this update from Tsodilo Resources Limited
[{"type":"text","content":"\nAnnual and Special Meeting Results\n\n\n May 4, 2010 (Filing Services Canada) -- Tsodilo Resources Limited (TSD - TSX Venture), (\"Tsodilo\" or the \"Company\") is pleased to announce that at its Annual and Special Meeting of shareholders held May 4, 2010, the following directors were elected: R. Stuart Angus, James M. Bruchs, David J. Cushing, Michiel C.J. de Wit, Jonathan R. Kelafant and  Patrick C. McGinley. The shareholders also approved the appointment of Ernst & Young LLP, Vancouver, Canada, as Auditors of the Company and voted to increase the number of shares reserved for issuance under the Company's Stock Option Plan to 3,942,120Grant of Stock OptionsUnder the terms of its Stock Option Plan, following the annual meeting of shareholders, Tsodilo granted 550,000 options to six directors and one employee at an exercise price of C$2.23 per share. These options vest as to 25% immediately, and 25% on each of the sixth, twelfth and eighteenth month anniversaries of the date of the grant. The options are valid for five years. Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic kimberlites and metal deposits at its Newdico (Pty) Limited (\"Newdico') and Gcwihaba Resources (Pty) Limited (\"Gcwihaba\") projects in northwest Botswana. The Company has an 95% stake in Newdico (9,400 square kilometers under diamond license) while Trans Hex Group, a South African diamond mining and marketing company, holds the remaining 5%. The southern and northern Gcwihaba project area (6,856 square kilometers under diamond license and 13,400 square kilometers under base and precious metals licenses) is 100% held by the Company. Tsodilo manages the exploration of both the Newdico and Gcwihaba license areas. Overall supervision of the Company's exploration program is the responsibility of Dr. Mike de Wit, President and COO of the Company and a \"qualified person\" (as such term is defined in National Instrument 43-101). The Company has offices in Toronto, Canada and Gaborone and Maun, Botswana. Please visit the Company's website, www.TsodiloResources.com, for additional information and background on our projects.This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments...