Takara Reports on the Results of its Annual and Special Meeting of Shareholders, and Nickel Project Updateadmin
Toronto, Ontario – November 29, 2013 – Takara Resources Inc. ("Takara" or the "Company") announces that at the Annual and Special Meeting of Shareholders held on November 28, 2013, the shareholders approved all resolutions that were put before them by management, including the appointment of the auditor, the approval of the stock option plan, the approval for up to a 10:1 share consolidation, and the election of a slate of directors.
Appointment of Auditors
The shareholders re-appointed MNP, Chartered Accountants as the Company’s auditor and authorized directors to fix the auditor’s remuneration.
Approval of the Stock Option Plan
The shareholders voted in favor of the resolution pertaining to the approval of Company’s 2011 stock option plan.
Approval of the Share Consolidation
The shareholders voted in favor of the special resolution pertaining to the approval to alter Takara’s issued share capital by consolidating its issued common shares on the basis of up to ten pre-consolidation shares for one post-consolidation share; such ratio to be determined by the directors.
Due to certain of the nominees of the slate of directors described in the Company’s management information circular being unable to stand as a director, a new slate of directors comprised of James Fairbairn, Andres Tinajero, Jennifer Boyle, and Lisa McCormack was appointed, all of whom shall serve as directors of the Company until the next annual meeting of the shareholders.
Miskamowin Nickel Project
Takara is pleased to announce that it has elected to re-activate its interest in three Mineral Exploration Licence application renewals that have the potential for nickel sulphide mineralization, located west of Thompson, Manitoba.
The Miskamowin Project is located in an underexplored area known to host ultramafic rocks correlative with the Thompson Nickel Belt, and is prospective for the identification of new ultramafic magmatic sulphide Ni deposits, particularly with the use of modern geological and geophysical techniques. In 2010 Geotech was engaged to complete a 2,410 line-km helicopter VTEM survey. Several prospective targets for Ni sulphide targets have been interpreted and recommended for ground follow up such as ground geophysical and follow up drill testing.
The Miskamowin Project remains under an option with the vendor. Takara has vested at 100% interest in the project, however, certain discovery bonus payments are payable to the original vendor in the event that certain milestones are met (see news release dated January 26, 2009).
The permit areas are located in the vicinity of Nelson House, Manitoba and are located close to small settlements with some infrastructure. Highway access is possible to some of the licenced areas, and a combination of foot, water, and aircraft access will be possible for all licence areas. The Company expects to begin First Nations consultations in the near future.
Ms. Pamela Strand, P. Geol., is a "Qualified Person" as defined in National Instrument 43-101 and has reviewed the technical information presented in this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Jennifer Boyle, B.A., LL.B.
President & Chief Executive Officer
Takara Resources Inc.
(647) 430.0966 (office)
(416) 904.2714 (cell)
Statement Regarding Forward Looking Information
Certain information contained in this news release, including any information relating to the proposed transaction and Takara’s future financial or operating performance may be deemed "forward-looking". These statements relate to future events or future performance and reflect Takara’s expectations regarding the transaction, and the future growth, results of exploration, business prospects and opportunities of Takara. These forward-looking statements are subject to a variety of risks and uncertainties that are identified and disclosed. Although Takara believes that the forward-looking information contained in this news release are based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Takara expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
NOT FOR DISSEMINATION IN THE UNITED STATES
Posted: November 29th, 2013 under ACCESSWIRE.