FOR: NAXOS RESOURCES LTD.
FOR FURTHER INFORMATION CONTACT
INVESTOR RELATIONS: Jeff Sharp (913) 894 - 8509
Russell Smith (603) 891 - 5743
FOR IMMEDIATE RELEASE #99-6
INJUNCTION GRANTED
Vancouver, British Columbia – April 6, 1999 - Naxos Resources Ltd (O.T.C. Bulletin Board: NAXOF), announces that its application for an injunction and other relief to prevent a Special Meeting of the Shareholders of the company was heard by Mr. Justice Grist of the Supreme Court of British Columbia on April 1, 1999.
Following submissions by counsel for the Company and counsel for the Respondents, Father Gregory Ofiesh and Mark Fletcher, Mr. Justice Grist ruled in favour of the Company, thus stopping the Special Meeting from proceeding.
In providing his oral reasons for judgement, Mr. Justice Grist held that the dissident group's requisition did not have the requisite percentage of support to require management of the company to convene a Special Meeting.
As part of his Order, Mr. Justice Grist granted an order that:
a. declared the April 15th Special Meeting a nullity;
b. enjoined Gregory Ofiesh and Mark Fletcher from taking any steps in furtherance of that Meeting including soliciting proxies in connection therewith; and
c. awarded costs in favour of the Company.
As a result, the wrongfully called Special Meeting will not be proceeding.
The Annual General and Special Meeting of the Company called by the Board of Directors of the Company will be held at the Hotel Vancouver at 10:00 a.m. on April 30, 1999.
ON BEHALF OF THE COMPANY
NAXOS RESOURCES LTD
“Signed”
Robert S. Gardner
President
All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
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