Vulcan Minerals Inc.: Annual and Special Meeting
26.07.2012 | Marketwire
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire - July 26, 2012) - Vulcan Minerals Inc. ("the Company" - "Vulcan") (TSX VENTURE:VUL) announces that all resolutions tabled at the Company's annual and special meeting of shareholders on July 25, 2012, were approved including the Plan of Arrangement to spin out a new subsidiary company focussed on potash/salt exploration and development in western Newfoundland. The Company will distribute to the shareholders of Vulcan, one share of the newly spun out company, Red Moon Potash Inc. ("Red Moon"), for every 3.835 shares held in Vulcan. The distribution record date is expected to be announced upon final listing approval on the TSX Venture Exchange after all regulatory approvals are received. Conditional listing approval has been issued. The Company will fund Red Moon by way of a minimum initial financing of $750,000 sufficient to undertake the initial phase of the exploration work program and to cover working capital requirements.Vulcan is a diversified junior exploration company with petroleum and mineral exploration interests in Newfoundland and in Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise
Shares Issued: 57,526,129
Contact
Vulcan Minerals Inc.
Patrick J. Laracy, President
Gerri A. MacNeil, Business Manager, Investor Relations
709-754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca