Southern Arc Minerals Inc. Announces Results of Annual General Meeting
18.11.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Nov. 18, 2011) - Southern Arc Minerals Inc. (TSX VENTURE: SA) shareholders approved all matters put before them at the Company's Annual General Meeting held on November 17, 2011. The Company is pleased to announce that Messrs. John G. Proust, Michael J. Andrews, David M. R. Stone, Robert J. Gallagher and Mohammed Al-Shahwani were elected to the Board of Directors. Shareholders ratified the Company's stock option plan, which permits the Company to grant options for up to 10% of the number of shares outstanding from time to time.The Company also wishes to announce that it has granted an aggregate 1,255,000 stock options to directors, officers and consultants of the Company, exercisable at a price of $0.90 per common share, for a period of five years. The stock options will vest as to 25% every 6 months for a period of 24 months.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust
Chairman & CEO, Director
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company with an aggressive exploration, acquisition and growth strategy. The Company's portfolio includes four exploration projects with epithermal gold and gold-copper porphyry prospects on the Lombok and Sumbawa islands in Indonesia, three of which are being advanced in partnership with major mining companies Vale and Newcrest. The Company's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA. More information is available at www.southernarcminerals.com or by emailing info@southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Southern Arc Minerals Inc.
Rhylin Bailie
Vice President, Communications & Investor Relations
604-676-5241
604-676-5246 (FAX)
info@southernarcminerals.com
www.southernarcminerals.com