Northcore Resources Inc. Shareholders Shortsightedly Vote Down Share Rollback
16.08.2012 | Marketwire
MONTREAL, QUEBEC -- (Marketwire - Aug. 16, 2012) - Northcore Resources Inc. ("Northcore") (TSX VENTURE:NCR) is providing the result of its annual and special shareholders meeting held in Montreal, on August 15, 2012. At the meeting, most of Management's proposed recommendations submitted for ratification by the Company's shareholders were approved.Messrs. Jean-Francois Perrault, Michael Neary, Michel Lebeuf and Maurice Giroux were elected to the Board of Directors, receiving in excess of 90% of the votes.
The change of the Company's fixed stock option plan (10%) to a rolling stock option plan (10%) was also approved, receiving in excess of 88% of the votes.
Disappointingly, the proposed share consolidation resolution was shortsightedly voted down by shareholders. The proposed consolidation garnered 59.4% support approval whereas 66.7% was required for adoption. Hopefully this will not impede the Company's ability to raise future financings in these challenging market conditions.
We seek safe harbour
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Northcore Resources Inc.
Jean-Francois Perrault, President & CEO
(514) 576-5837
(514) 904-1788 (FAX)
Ceo@Northcoreresources.com
Northcoreres@gmail.com
www.northcoreresources.com