United Reef Shareholders Approve Consolidation of Shares and Change of Company Name
![United Reef Shareholders Approve Consolidation of Shares and Change of Company Name](https://www.minenportal.de/media/goldseiten-news.jpg)
Shareholders also approved a new 'rolling' stock option plan of the Company, which provides that the maximum number of common shares that may be reserved and set aside for issuance under the stock option plan shall not exceed 10% of the aggregate number of the Company's common shares outstanding.
The plan remains subject to final TSX-V approval being obtained and it is the Company's intention to implement the grant of options under the plan once the Consolidation has been completed.
Approval was also given by shareholders at the Meeting, authorizing the Company's board of directors to issue up to 2,420,000 common shares of the Company in exchange for debt owing to a consulting company owned by the President of the Company, subject to final TSX-V approval being obtained.
The following were elected as directors of the Company at the Meeting: Michael Coulter, Peter George, Harry Hodge, William Ollerhead and Seymour Sears.
United Reef is now pursuing the completion of the corporate reorganization approved at the Meeting and advancing new exploration opportunities for the Company.
Shares issued: 89,139,980
Fully diluted: 94,929,980
NEITHER THE TSX-V NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-V) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
United Reef Limited
Michael Coulter, President
416-368-3332
info@unitedreef.com
www.unitedreef.com