RJK Explorations Limited: Completes Annual and Special Meeting of Shareholders
TORONTO, October 4, 2016 / RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or the "Corporation") announces that it has completed its 2016 Annual and Special Meeting (the "AGM") of shareholders of the Corporation (the "Shareholders") on October 3, 2016 in Kirkland Lake, Ontario. Shareholders voted a majority of shares for the election of directors nominated in the proxy circular filed by the Corporation on September 2, 2016, namely Glenn C. Kasner, James S. Kermeen, Daniel Mackie, William E. MacRae and Amanda Kasner. Shareholders also approved the Corporation's re-appointment of Palmer Reed Chartered Accountants as the Corporation's auditor.
Setting Number of Directors
The number of directors of the Corporation was fixed at five (5) by special resolution.
Approval of Stock Option Plan
The Shareholders entitled to vote on the resolution approving the Corporation's stock option plan approved the 10% "rolling" stock option plan of the Corporation by ordinary resolution. "Insiders" of the Corporation to whom options may be granted under the stock option plan and "Associates" of those Insiders, in each case as defined in the TSX Venture Exchange Corporate Finance Manual, were not entitled to vote on the resolution.
Class B Share Consolidation
The Shareholders approved a consolidation of the authorized, issued and outstanding Class B Shares on a ten (10) old shares for one (1) new share basis (the "Consolidation"). The number of authorized post-Consolidation Class B Shares was set at 85,414. The Shareholders approved the Consolidation by special resolution and the holders of Class B Shares approved the Consolidation by special resolution in a separate class vote.
Empowering the Board to Fix Number of Directors
The Shareholders approved a special resolution allowing the Board to appoint one or more directors between annual meetings and to fix the size of the Board.
Contact Information
RJK Explorations Ltd.
Glenn Kasner, President
Telephone: (705) 567-5351
Mobile: (705) 568-7567
kasner1@ntl.aibn.com