True Zone Resources Inc. Announces the Results of its Annual General and Special Meeting
12.01.2015 | The Newswire
Vancouver, BC / TNW-ACCESSWIRE / January 12, 2015 / True Zone Resources Inc. (the ''Company'') (CSE: TAZ) is pleased to announce that its shareholders in attendance and by proxy unanimously approved all matters placed before them during the annual general and special meeting on January 12, 2015 (the "Meeting").The number of directors was fixed at three. Souhail Abi-Farrage, Michael Mulberry and Leonard Vernon Senft were elected to the board of directors of the Company. MNP LLP were reappointed as the auditors of the Company. The shareholders also approved the plan of arrangement (the "Arrangement") between the Company and its five wholly owned subsidiaries Patch Industries Ltd. (Patch), Frond Resources Ltd. (Frond), Oak Cliff Resources Ltd. (Oak), Moshi Mountain Industries Ltd. (Moshi), and Elm Resources Ltd. (Elm) (collectively the "Subsidiaries"). The shareholders also approved the Amalgamation between the Subsidiaries and their respective Capital Corporations pursuant to which, Patch will amalgamate with Patch Capital Inc., Frond will amalgamate with Frond Capital Inc., Oak will amalgamate with Oak Capital Inc., Moshi will amalgamate with Moshing Capital Inc., and Elm will amalgamate with Elm Capital Inc.
The Arrangement will have to be approved by the Supreme Court of British Columbia, and will have to be filed with the Corporate Registry of British Columbia before it becomes effective. The Company will announce the effective date when such date has been determined by the Board of Directors. Only those shareholders of record as of January 26, 2015 shall participate in the Company's Plan of Arrangement.
A total of 24,274,325 common shares representing 53.0% of the issued shares of the Company were represented at the Meeting and voted either by proxy or in person. Shareholders present in person or represented by proxy voted 100% in favour of all matters placed before them at the Meeting.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
True Zone Resources Inc.
Souhail Abi-Farrage CEO, President and Director
Telephone: 778-891-2701
Email : info@truezoneresources.com