Business
Callinex Mines Acquires Private Land at Nash Creek Deposit; Announces AGM Results
VANCOUVER, Oct. 26, 2017 /CNW/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has signed agreemen
About this update from Visionary Copper And Gold Mines Inc.
[{"type":"text","content":"VANCOUVER, Oct. 26, 2017 /CNW/ - Callinex Mines Inc. (the \"Company\" or \"Callinex\") (TSX-V: CNX; OTCQX: CLLXF) is pleased to announce that it has signed agreements to acquire over 150 acres of private land covering a significant portion of the Company's Nash Creek Deposit located in the Bathurst Mining District of New Brunswick. The acquisition of this private land package includes road access and surface rights covering a significant portion of the Nash Creek Deposit. This land package could allow for additional exploration activity such as bulk sampling and trenching as well as provide a logistics hub for the company's activities in the area. Recently, two mineralized outcrops were discovered and one of these is located within this newly acquired land package. The Company paid an average of $400 per acre for vacant lots totaling approximately 126 acres along with $39,000 for a furnished three-bedroom house that includes an additional 26 acres. The home will be used to house drill crews to lower the Company's overall exploration costs. The Company is awaiting additional drill results from the recently completed Superjack drilling program and anticipates receiving final results within 15 days. Annual General Meeting Callinex recently held its Annual General Meeting on October 18, 2017. The Company is pleased to report that over 33 million shares were voted and that all resolutions put forward by the Board of Directors were overwhelmingly approved with each item receiving over 98% of support. These resolutions included setting the number of directors at five and approved the appointment of Max Porterfield, Mike Muzylowski, Nico Civelli, Michael Louie and Keith Minty to the Board of Directors. Shareholders appointed PricewaterhouseCoopers LLP as auditors of the Company until the next annual general meeting and to authorize the directors of the Company to fix the remuneration to be paid to the auditors. Shareholders also approved an amendment of the Company's \"rolling\" stock option plan to a \"fixed\" option plan under which the number of common shares available for issuance is fixed and there is no replenishment in the future, and a restricted share unit plan. Under the \"fixed option plan\" and the restricted share unit plan, the Company's total number of stock options and restricted share units is limited to 15,659,741. Aft...