Adex Mining Announces Results of Annual and Special Meeting of Shareholders
13 Giugno 2012 - 11:01PM
Marketwired Canada
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE:ADE) is pleased to
announce the results of its annual and special meeting of shareholders held on
June 6, 2012 in Fredericton, New Brunswick.
The shareholders re-elected Norman Betts, William Burton, Joseph Ying Kit Lau,
Linda Lam Kwan, Yan Kim Po and Joe Kin Foon Tai to serve as members of the Board
of Directors. The shareholders also re-approved the Company's rolling stock
option plan and re-appointed PricewaterhouseCoopers LLP as the Company's
auditors. Mr. Yan will serve as the Chairman and Dr. Betts will serve as the
Lead Independent Director of the Board of Directors.
Ms. Lam Kwan will continue to serve in the position of Interim President and
Chief Executive Officer. The Company has accepted the resignation, effective
June 30, 2012, of Patrick Merrin as the Chief Operating Officer of the Company.
He has agreed to continue to be available to provide consulting services to the
Company after such date. He will be joining HudBay Minerals Inc. in a senior
management position. The Board of Directors of Adex wishes to thank Patrick for
his contributions to the Company and wishes him well in his next position. The
Company is actively pursuing the hiring of additional members for its senior
management and technical teams.
As at March 31, 2012, the Company had cash and cash equivalents of approximately
Cdn$3.9 million. The Company is considering possible sources of additional
financing, such as a rights offering, to be used for additional work on the
Mount Pleasant Mine project.
Mr. Yan stated that, "I am pleased that, over the past year, the Company has
made significant progress with the Mount Pleasant Mine project. I am confident
about the future prospects of Adex. We will continue to work to move the project
forward and to proceed to the commencement of production as soon as possible. I
want to thank the shareholders of Adex and the Government of New Brunswick for
their ongoing support".
ABOUT ADEX
Adex Mining Inc. is a Canadian junior mining company with an experienced
management team. The Company is focused on developing its flagship Mount
Pleasant Mine Property, a multi-metal project that is host to promising
tungsten-molybdenum and tin-indium-zinc mineralization. Located in Charlotte
County, New Brunswick, the Mount Pleasant Mine property is 80 kilometres south
of Fredericton, the provincial capital, and 65 kilometres from the United States
border. The common shares of Adex trade on the TSX Venture Exchange under the
stock symbol "ADE".
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements of Adex, its
subsidiary or the industry in which they operate to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements. When used in this press release, the words
"estimate", "believe", "anticipate", "intend", "expect", "plan", "may",
"should", "will", the negative thereof or other variations thereon or comparable
terminology are intended to identify forward-looking statements. Such statements
reflect the current expectations of the management of Adex with respect to
future events based on currently available information and are subject to risks
and uncertainties that could cause actual results, performance or achievements
to differ materially from those expressed or implied by those forward-looking
statements. These risks and uncertainties are detailed from time to time,
including, without limitation, under the heading "Risk Factors", in reports
filed by Adex with the Alberta, British Columbia and Ontario Securities
Commissions which are available at www.sedar.com and to which readers of this
press release are referred for additional information concerning Adex, its
prospects and the risks and uncertainties relating to Adex and its prospects.
New risk factors may arise from time to time and it is not possible for
management to predict all of those risk factors or the extent to which any
factor or combination of factors may cause actual results, performance and
achievements of Adex to be materially different from those contained in
forward-looking statements. Although the forward-looking statements contained in
this press release are based upon what management believes to be reasonable
assumptions, Adex cannot assure investors that actual results will be consistent
with these forward-looking statements. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking statements as a
prediction of actual results. The forward-looking information contained in this
press release is current only as of the date of the press release. Adex does not
undertake or assume any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events, except as required
by law.
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