Stratton Resources Shareholders Approve 2:1 Stock Split and Elect Independent Directors
August 16 2011 - 12:49PM
Marketwired
Stratton Resources Inc (TSX VENTURE: SI) ("Stratton" or the
"Company") held its Annual General Meeting ("AGM") and Special
General Meeting ("SGM") on Friday, August 12, 2011. At the meeting,
Stratton shareholders approved the previously proposed 2:1 split in
the Company's stock. Following the stock split, the Company will
have 19,094,166 common shares outstanding and 32,600,098 fully
diluted shares outstanding. Stratton's shares will resume trading
on the TSX Venture Exchange under the ticker symbol "SI" following
formal approval of the previously announced acquisition of AZ
Copper (see Stratton news release dated May 19, 2011).
The shareholders voted to re-elect Mr. Shawn Wallace, Mr. Greg
McCunn, Mr. Ivan Bebek and Mr. Luke Norman as members of the Board
of Directors whilst three additional Directors were elected, all of
which are independent Directors. The newly appointed independent
Directors are Mr. Ross C. McCutcheon, Mr. Steve Cook, and Mr.
Alistair Maxwell. Mr. McCutcheon has been managing partner of the
law firm of Maitland & Company since forming the firm in 1976.
Mr. Cook is a practicing tax partner at the prestigious tax law
firm, Thorsteinssons LLP. Mr. Maxwell was formally the President
and Chief Executive Officer of Clarus Securities Inc. from its
inception in 2003 to April 2011 and has been active in the
financial services industry for over 20 years.
Stratton's President, Greg McCunn, stated: "We are extremely
pleased with the caliber of experience that Steve, Alistair and
Ross will bring to the Stratton board. Their extensive knowledge
and experience will be valuable as we rapidly move forward with our
exploration programs at the MAC and Bear Canyon projects."
On behalf of the Board of Directors,
Greg McCunn, President & CEO
About Stratton Resources:
Stratton Resources Inc. is a Canadian mineral exploration
company focused on the discovery and development of porphyry
molybdenum deposits in British Columbia and Arizona. Stratton's
goal is to build a quality asset portfolio consisting of base metal
properties at various stages of development.
The Company's flagship project is the advanced stage MAC
Molybdenum Project located approximately 80 km northwest of Fort
St. James in central British Columbia. Historical exploration work
completed on the MAC project has identified significant zones of
porphyry molybdenum and copper mineralization. The Company is also
advancing exploration drilling on its Bear Canyon copper project in
south-eastern Arizona and holds a 100% interest in the Mt. Hayes
copper-gold porphyry project located on the South Coast of BC. The
Company has also signed a Letter of Intent on the Lunar copper-gold
porphyry project located 50 km north of the Kemess mine (Northgate
Minerals) in northern BC.
With an experienced management team that has a proven track
record of successful discovery and development of mineral deposits,
Stratton is positioned to rapidly build shareholder value. For more
information please visit our website at
www.strattonresources.com.
Disclosure Notes
The above release contains forward looking information, which in
Stratton's view is based on reasonable assumptions and estimates.
There can be no assurance that forward looking statements will
prove to be accurate and are subject to may factors beyond the
control of Stratton including third party consents, regulatory
approvals the state of capital markets and the appetite for higher
risk junior resource companies. For further details about Stratton
and the risks it faces see its public filings at www.sedar.com.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to, or
for the benefit of, U.S. persons (as defined in Regulation S under
the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or pursuant to
an exemption from such registration requirements.
Neither the TSX Venture Exchange nor any other regulatory
authority accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Stratton Resources Inc. Greg McCunn President &
CEO (604) 683-8193 or Toll Free: 1-800-863-8655 (604) 683-8194
(FAX) info@strattonresources.com www.strattonresources.com
Stratton Resources Inc. (TSXV:SI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Stratton Resources Inc. (TSXV:SI)
Historical Stock Chart
From Jul 2023 to Jul 2024