Stem 7 Capital Announces Results of AGM, Company Name Change & Welcomes New CEO
Vancouver, July 28, 2017 - Stem 7 Capital Inc. ("Stem 7" or the "Company") (TSXV: STS.H) is pleased to provide shareholders with results from the Company's Annual General Meeting ("AGM") held July 26th, 2017. As well, the Company announces its decision to change the Company name to South Star Mining Corp. Finally, the Company wishes to welcome Mr. Eric Allison as its new Chief Executive Officer ("CEO"). AGM Results
Company shareholders voted in favour of all matters brought before the meeting and the election of directors was approved by a majority vote of shareholders either in person or represented by proxy as follows:
Election of Directors
Mr. Eric Allison
Mr. Allen Ambrose
Mr. Graydon Kowal
Mr. Dave McMillan
The Company also reports that the re-appointment of Manning Elliott LLP as auditor for the Company and the Company's stock option plan were both approved by a majority vote of shareholders either in person or represented by proxy at the meeting.
At the AGM's conclusion, Company directors held a board meeting in which the decision was made to change Stem 7's name to South Star Mining Corp. ("South Star"). This new name was decided upon to reflect the Company's focus on mine opportunities in Brazil, South America, the first being the Santa Cruz Graphite Project in the Bahia state of Brazil. A Letter of Intent to acquire a 100% interest in the Santa Cruz project was announced on June 29, 2017. The name change is subject to TSX Venture Exchange approval.
Company directors also accepted Dave McMillan's resignation as CEO and appointed him Chairman of the Board. The directors also appointed Eric Allison as the new CEO of the Company. The Company wishes to thank Mr. McMillan for his many years of service as CEO.
As well, the Company appointed Mr. McMillan Chairman of the Audit Committee. He will be accompanied on the committee by directors Allen Ambrose and Graydon Kowal, both independent directors.
About Stem 7 Capital Corp. (South Star Mining Corp.)
The Company is focused on the acquisition and development of near-term mine production projects in Brazil to maximize shareholder value. The Company recently announced a Letter of Intent to acquire a 100% interest the Santa Cruz Graphite Project in the Bahia State, Brazil. The Santa Cruz project consists of 13 approved exploration licenses covering approximately 13,000 hectares located in a producing graphite district with a history of over 70 years of continuous graphite production. An independent NI43-101 Preliminary Economic Assessment Technical Report ("PEA") on the Santa Cruz Graphite Project is expected to arrive shortly. The Project will be based on approximately 7000 meters of drilling and pilot plant test work on over 30 tons of material. The PEA will also include an economic analysis, a resource estimate with a description of the project history, geology, mineralization, sampling procedures, and laboratory Quality Assurance/Quality Control procedures.
A new corporate website is in the final stages of development and the Company looks forward to providing shareholders access to this informative site following receipt of the PEA.
On behalf of the Board,
Eric Allison
Chief Executive Officer
Ph: +1 (203) 918-3098
Email: eta719@gmail.com
For additional information, please contact:
Kris Kottmeier
Ph: +1 (604) 506-2502
Email: kris@venturestox.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2017 TheNewswire - All rights reserved.