CONSOLIDATED SILVER TUSK MINES LTD.
2011-989 Nelson Street, Vancouver, B.C. V6Z 2S1
TEL: (604) 602-1088 FAX: (604) 602-1077
E-mail; consil@telus.net Website: www.silvertusk.com
July 6th, 2000
News Release
The management of Consolidated Silver Tusk Mines Limited (CKS) takes pleasure in releasing the results of the Annual General Meeting held in Vancouver on Friday, June 30th, 2000.
A total of 11,123,894 common shares held by a total of 106 shareholders were represented in person and/ or through proxy to be voted at the Company’s Annual General Meeting, representing 62.3% of the total shares voted. These 11,123,894 shares represented those shares that were accepted by the Company as properly and timely filed with Montreal Trust Company, the Company’s transfer agent, who acted as scrutineers. All items of business were passed with a majority vote:
1. The number of directors fixed at four for the ensuing year.
2. The election of Mr. Robert Needham, Mr. William Van der Merwe, Mr. Walter T. Plummer and Mr. Timothy Marlow as directors of the Company for the ensuing year.
3. The appointment of J.M. Tucker Inc., as auditor of the Company for the ensuing year.
4. Approval of the terms of the US$2 million Loan Agreement.
5. Approving and authorizing the directors to grant director and/ or employee incentive stock options in accordance with the policies of CDNX.
6. Approving a motion to ratify director’s actions during the past year.
7. Approving such other business that may properly have come before the AGM meeting or any adjournment thereof.
The management of Consolidated Silver Tusk Mines would like to thank those shareholders who submitted their proxies, for their overwhelming support, which reflected in the majority of votes in favor of passing all items of business. Management will continue to commit themselves to the business of Consolidated Silver Tusk Mines and in particular to utilize the funding secured to reach full production activity on the KBU property in Sumatra.
Management would further like to announce that they have entered into settlement discussions with Mr. Neville Render, Arnold A. Forbes and La Esperanza Corporation stemming from legal action that the Company took against these parties relating to a finders fee that was paid to these parties in 1999. In a spirit of cooperation, all parties have agreed that it is in the best interests of the Company and it’s shareholders to settle this matter amicably and out of court, and to jointly and separately continue to work, promote and support the Company and it’s activities to the ultimate benefit of all investors/ shareholders. The company is confident that a settlement agreement will be reached and executed shortly.
For further information please contact investors’ relations at info@silvertusk.com or request a copy of the Company’s Corporate Profile through the web site: www.silvertusk.com
Except for historical information contained in this release, the matters discussed are forward looking statements that involve risks and uncertainties. When used in this release, words such as “anticipate”, “`believe”, “estimate”, “expect” and “intend” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
On behalf of the Board of Directors,
William Van der Merwe
William J. Van der Merwe.
Vice President – Finance & Administration. |
