TSX-V Trade Symbol: WEL
WINNIPEG, MB, April 19 /CNW/ - Wildcat Exploration Ltd. announced today that the Special Meeting of Shareholders, previously scheduled for Thursday, April 12, 2007 will convene on April 26, 2007 at the Victoria Inn, 1808 Wellington Avenue, Winnipeg, Manitoba at 10:00 a.m.
The adjournment is a result of a Manitoba court order granted to the dissident shareholders on a motion made without notice to the Company, on Wednesday, April 11, 2007 and the subsequent court order delivered on Tuesday, April 17, 2007.
Votes by proxy can be submitted up to 10:00 a.m. on April 26, 2007. Votes that were submitted by shareholders previously will be counted and do not need to be sent in again. Shareholders who have already voted a BLUE proxy do not need to take any further action.
The Board and dissident shareholders will mutually agree upon an independent Chairperson for the Special Meeting, a common practice for special meetings of this nature.
The dissident shareholders sought the initial court order after the deadline had passed for the filing of proxies for the Special Meeting. One of the dissidents, Shlomo Prizant, claimed he was unable to submit one of his proxies in time to meet the previously agreed deadline of 10:00 a.m. (Central time) on April 10, 2007. This proxy deadline was disclosed in the Notice of Special Meeting of Shareholders, the Management Information Circular of the Company and in the Company's form of proxy, all of which were filed on SEDAR on March 12, 2007 and mailed to shareholders on March 13, 2007.
An earlier proxy deadline of 5:00 p.m. (Central time) on April 9, 2007 was also set by the dissident shareholders in the dissident circular and form of proxy, which were filed on SEDAR on March 23, 2007. The dissident shareholders reiterated this deadline in a news release, filed on SEDAR on April 4, 2007.
"Wildcat shareholders are being affected by the dissidents' apparent inability to meet the requirements of their own voting procedures. The dissidents have acknowledged that they had a month to vote their shares but failed to do so. They also had a month to ask for a change to the Chair of the meeting, but did nothing until after the proxy deadline had passed," said Jerrold Siemens, Chairman and Interim Chief Executive Officer of Wildcat. "The dissidents' actions have led to a delay in Wildcat's shareholders having their opportunity to speak and vote but our shareholders will have that opportunity shortly. We are confident they will reject the dissidents' efforts to take control of Wildcat."
"The Board is determined to continue moving the Company forward while protecting the rights and value of the Company for its shareholders," Mr. Siemens said.
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.
%SEDAR: 00014885E