TSX-V Trade Symbol: WEL
WINNIPEG, Feb. 5 /CNW/ - Wildcat Exploration Ltd. announced today that the Executive Committee of the Company's board of directors, in response to a requisition recently delivered by dissident shareholders, has called a special meeting of shareholders to be held on April 12, 2007.
On January 18, 2007, Wildcat Exploration received a letter and requisition from the Company's former President and Chief Executive Officer Shlomo (Sol) Prizant and Yes Forex Inc., together claiming to represent not less than 5% of the outstanding common shares of the Company, requisitioning a meeting of the shareholders of the Company to consider resolutions to remove all of the existing directors and electing new directors of the Company.
The board of directors relieved Mr. Prizant of his duties as President and CEO on January 8, 2007 and terminated his consulting agreement for cause on January 26, 2007. The Company is currently conducting a review of Mr. Prizant's conduct during his tenure as President and CEO and will report to the shareholders at the conclusion of that investigation.
The Company's board has fixed a record date for notice and voting of February 21, 2007 for the Company's April 12, 2007 special meeting of shareholders.
All shareholders are entitled to receive notice and to vote at the special meeting.
The Company's board regrets the time and expense that will be involved in holding the special meeting but is fully committed to responsible corporate governance, fulfilling its fiduciary duties and acting in the best interests of all the Company's shareholders including insuring that management remains focused on creating value for shareholders.
About Wildcat Exploration Ltd.
Wildcat is a Winnipeg-based mineral exploration company actively exploring for gold and base metals in Canada. For further information on the company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
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