TORONTO, June 4, 2012 /CNW/ - Oremex Silver Inc. ("Oremex" or the "Company") (TSX Venture: OAG) (OTCQX: ORAGF) (Frankfurt: OSI) announces that the Company's board of directors has set Friday, June
29, 2012 at 10:00 am EST as the rescheduled date and time for its
annual and special meeting of shareholders (the "Meeting") to be held
at the offices of Wildeboer Dellelce LLP located at Suite 800, 365 Bay
Street, Toronto, Ontario.
In addition, the Company announces that it has put forth an additional
item of special business for consideration by shareholders at the
Meeting. As a result of the historically high stated capital amount
attributable to the common shares of the Company, the Company would, as
at the date hereof, be precluded from effecting a dividend-in-kind
payment to holders of its common shares in accordance with certain
statutory restrictions. As such, at the Meeting, shareholders will be
asked to vote on a special resolution authorizing the Company to reduce
the stated capital of the common shares of the Company to $10 million,
or such other amount as may be determined by the board of directors of
the Company, for the reasons as further described in the amended notice
of meeting and supplement to management proxy circular dated June 4,
2012 (the "Supplemental Circular"). In addition, the Board of Directors
may determine not to proceed with the reduction in stated capital or
the payment of the dividend-in-kind, even though the shareholders have
approved the resolution to reduce the stated capital of the Company.
The record date for the meeting continues to be May 1, 2012. The
deadline for the deposit of proxies with respect to the rescheduled
Meeting has been extended to 10:00 am EST on Wednesday, June 27, 2012.
Any proxy deposited with respect to the original Meeting date will
continue to be valid at the rescheduled Meeting, unless revoked by the
Shareholders are encouraged to read the Supplemental Circular, to be
delivered to shareholders within the next few days, and to deposit a
proxy with respect to the new special matter described in the
Supplemental Circular. A copy of the Supplemental Circular is available
under the corporate profile of Oremex on the System for Electronic
Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About Oremex Silver Inc.
Oremex Silver Inc. is a Canadian company focusing on the exploration and
development of silver projects along the highly productive mineralized
belt in Mexico. The Company has a portfolio of silver projects
including a mineral resource of 50.8 million ounces of silver at its
Tejamen deposit. The Company's projects are located in mining-friendly
jurisdictions and the management team has successful track record of
mine-building in Mexico.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute
forward-looking information, (collectively "forward-looking
information") within the meaning of Canadian securities laws.
Forward-looking information may relate to this news release and other
matters identified in Oremex Silvers' public filings, anticipated
events or results and can be identified by terminology such as "may",
"will", "could", "should", "expect", "plan", "anticipate", "believe",
"intend", "estimate", "projects", "predict", "potential", "continue" or
other similar expressions concerning matters that are not historical
facts and include, but are not limited in any manner to, those with
respect to capital and operating expenditures, economic conditions,
availability of sufficient financing, receipt of approvals,
satisfaction of closing conditions and any and all other timing,
development, operational, financial, economic, legal, regulatory and/or
political factors that may influence future events or conditions. Such
forward-looking statements are based on a number of material factors
and assumptions, including, but not limited in any manner, those
disclosed in any other public filings of Oremex Silver, and include the
ultimate availability and final receipt of required approvals,
sufficient working capital for development and operations, access to
adequate services and supplies, availability of markets for products,
commodity prices, foreign currency exchange rates, interest rates,
access to capital markets and other sources of financing and associated
cost of funds, availability of a qualified work force, availability of
manufacturing equipment, no material changes to the tax and regulatory
regime and the ultimate ability to execute its business plan on
economically favourable terms. While we consider these assumptions to
be reasonable based on information currently available to us, they may
prove to be incorrect. Actual results may vary from such
forward-looking information for a variety of reasons, including but not
limited to risks and uncertainties disclosed in other Oremex Silver
filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by
law, Oremex Silver does not intend, and undertakes no obligation, to
update any forward looking information to reflect, among other things,
new information or future events.
Neither the TSX Venture nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Oremex Silver Inc.
For further information:
Oremex Silver Inc.
P: +1 416.309.4321