Manicouagan Reports on the Annual and Special Meeting of Shareholders Held June 8, 2011
TORONTO, ONTARIO--(Marketwire - June 9, 2011) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that all proposed resolutions were approved at the Company's Annual General and Special Meeting of Shareholders.
Board Members Re-elected
Messrs Douglas A.C. Davis, Jacques R. Beauregard, Donald K. Johnson, Vahan Kololian, Joseph Baylis, W. Brian Carter and Claude Britt where elected to the Board of Directors of the Company.
Mr. Constantine Salamis, formerly Vice-Chairman of the Company, did not stand for re-election to the Board of Directors. Manicouagan thanks Mr. Salamis for his contributions as a founding Director and first President of the Company, and wishes him success in his future endeavours.
Manicouagan's shareholders approved that the issued and outstanding Common Shares in the capital of the Corporation be consolidated on the basis of one (1) new Common Share for every ten (10) Common Shares presently issued and outstanding (the "Consolidation") and to amend the articles of the Corporation accordingly. The Board will proceed to give effect to the consolidation as quickly as possible subject to TSX Venture Exchange and regulatory approvals.
The resolution to approve the Consolidation of the Company's shares was approved by 90 percent of the shareholders voting of the meeting.
Auditors and Stock Option Plan
The shareholders also approved resolutions in respect of the reappointment of the Company's Auditors and the renewal of the Stock Option Plan.