Key points
- The extraordinary general meeting was held on Nov. 26, 2007, to approve the Epion Holdings placement described in the Oct. 19, 2007 information circular.
- Of 65,006,063 eligible shares represented at the meeting, 64,807,222 shares (99.69%) voted in favour and 198,841 shares (0.31%) voted against.
- The placement is subject to Toronto Stock Exchange acceptance and is expected to close by Nov. 30, 2007.
- Following closing, the company will have 142,815,640 common shares outstanding, 18,979,725 warrants and 9,235,656 options, for 171,031,021 shares fully diluted.
Nautilus Minerals Inc. has released the results of its extraordinary general meeting held on Nov. 26, 2007.
EGM results
The private placement to Epion Holdings Limited of 10,859,690 units at a price of $3.60 per unit (1.78 pounds) for gross proceeds of $39,094,884 (19,372,170 pounds) received disinterested shareholder approval at the meeting. The particulars of the placement are set forth in the company’s information circular dated Oct. 19, 2007.
David Heydon, Nautilus’s chief executive officer, commented: “With the recent exploration success at Solwara 1, we are keen to get back out on the water and develop a pipeline of projects. Ongoing exploration is the key to increasing shareholder value. This placement allows us to maintain momentum and exploration at current levels for 2008 and 2009. The funds will also provide capital for potential development of new equipment following the success of the innovative electromagnetic tools and the robotic ROV drills used in 1,700-metre water depth at Solwara 1.”
Shares held by Epion were not entitled to vote on the matter. Of the shares eligible to vote, 65,006,063 were represented at the meeting either in person or by proxy. A total of 64,807,222 shares (99.69 per cent) voted in favour of the placement while 198,841 shares (0.31 per cent) voted against the placement. The placement remains subject to acceptance of the Toronto Stock Exchange, but is expected to close by Nov. 30, 2007. Following the completion of the placement the company’s share capital will be:
Common and outstanding shares: 142,815,640Warrants: 18,979,725Options: 9,235,656Fully diluted: 171,031,021
Common and outstanding shares: 142,815,640
Warrants: 18,979,725
Options: 9,235,656
Fully diluted: 171,031,021
