Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: onepath who wrote (21151)	9/15/2006 5:46:49 PM
From: E. Charters	Read Replies (1) of 78430

where is this proposal in print? I see the capital issuance limit is 50 million. Is there a proposal to raise that limit? Or to make a placement of that larger figure you mentioned? Ok I found it... This is an amendment to authorize the issuance of, not to offer an amount of stock. All it does is raise the authorized capital of the company. We are looking at doing this in one of our companies that has 2 million shares out. We will raise the authorized to 100,000,000. This does not mean we are issuing anywhere near that number, nor does it mean we ever intend to. ****************************** "Specifically, the purpose of the Meeting is to amend the Company's Articles of Incorporation to authorize additional shares of the Company's common stock (the "Amendment"). Under Nevada corporate law, the Company must receive affirmative votes from a majority of the shares outstanding to amend the Articles of Incorporation. The Amendment, which was first presented at the Company's annual meeting held on July 7, 2006, also included authorization of preferred stock. Unlike common stock, the authorization of preferred stock is a non-routine voting item for brokers and brokers are not permitted to vote on non-routine items. Without the broker votes, the Company could not meet the votes required under Nevada corporate law to amend the Articles of Incorporation. Therefore, it is necessary to hold another Shareholders meeting to represent this Amendment as a routine voting item. With the broker votes now available, the proposal will pass. We apologize for the inconvenience of another Shareholders meeting and we appreciate the prompt return of your proxy cards."

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