With us today is Frank C. Smeenk President & Chief Executive Officer of KWG Resources Inc. Mr. Smeenk discusses recent conversation with Noront Resources after proposed acquisition of Cliffs Chromite was announced.
Denver, Colorado, May 27, 2011 – Triangle Petroleum Corporation ("Triangle" or the "Company") (NYSE Amex: TPLM)
announced today that its board of directors has approved a proposal to change the Company’s state of legal incorporation from Nevada to Delaware. The reincorporation proposal will be submitted for consideration at Triangle’s annual meeting of stockholders scheduled to be held on July 22, 2011 at 10:00 a.m. local time, at its offices in Denver, Colorado.
The proposed reincorporation would not affect the Company’s headquarters, business, jobs, management, offices or facilities, number of employees, assets, liabilities or net worth. Also, the Company’s common stock would continue to trade on the NYSE Amex LLC under the symbol TPLM. If the reincorporation is approved by stockholders, the Company’s name would change to "Triangle Resources Corporation."
Approval of the reincorporation proposal will require the support of a majority of the shares of the Company’s common stock present at the annual meeting in person or by proxy and entitled to vote on the matter. Further information regarding the reincorporation will be contained in the proxy statement to be filed with the Securities and Exchange Commission.