VANCOUVER, Sept. 2 /CNW/ - Pacific North West Capital Corp. (PFN) (TSX:
PFN; OTCBB: PAWEF; Frankfurt: P7J.F) announces that 41.30% of the 61,858,008
common shares issued and outstanding were voted at the Company's recently
completed Annual General and Special Meeting held on Wednesday August 26,
2009. Of the 41.30% common shares voted by the shareholders of PFN, the
following results were obtained:
Votes received by the shareholders of the Company were in excess of 97%
in favour to set the number of directors at five and in excess of 93.50% to
appoint Harry Barr, Linda Holmes, Jordan Point, Dennis Hop and John Londry as
directors for the ensuing year.
James Stafford, Inc., Chartered Accountants were re-appointed the
auditors of the Company for the ensuing year, and the directors were
authorized to fix their remuneration by votes received in excess of 98%.
The Company was authorized to amend the exercise price and terms to
existing stock options as outlined in the Company's information circular dated
July 28, 2009 by receiving disinterested shareholder votes in excess of 92%.
The Company was authorized to proceed with the sale of the Nixon Fork
Gold Project as outlined in the information circular by receiving
disinterested shareholder votes in excess of 98%.
The Company was authorized to invest funds to purchase securities of
resource companies that, in management's opinion, are currently undervalued as
further described in the Company's information circular by receiving
shareholder votes in excess of 90%.
Management of Pacific North West Capital Corp. would like to thank the
shareholders for their continued support.
Management will continue to focus on expanding our platinum group metals
division, but due to the unprecedented opportunities in the current market, we
are also looking at the acquisition of key under-valued advanced stage
projects outside of the our traditional PGM objectives to increase shareholder
About Pacific North West Capital Corp:
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt:
P7J.F) is a mineral exploration company focused on Platinum Group Metals
(PGM), precious and base metals. Management's corporate philosophy is to be a
Project Generator, Explorer and Project Operator with the objective of
option/joint venturing projects with major mining companies through to
production. To that end, Pacific North West Capital's current option/joint
ventures agreements are with Anglo Platinum, Xstrata Nickel, Benton Resources,
First Nickel and SOQUEM. Pacific North West Capital Corp. is well funded with
an experienced management team and the ability to take advantage of the
tremendous opportunities that are available today. Our focus will be to
acquire advanced stage precious metals projects, continue to expand our
Platinum Group Metals and base metals division.
Pacific North West Capital Corp. has approximately $6.9 million in
working capital and securities.
On behalf of the Board of Directors
President and CEO
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release
Disclaimer: This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other than statements of
historical fact, included herein are forward-looking statements that involve
various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents filed from
time to time with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange Commission.
For further information:
For further information: Tel: (604) 685-1870, Fax: (604) 685-8045,
Email: email@example.com, or visit www.pfncapital.com, 2303 West 41st
Avenue, Vancouver, B.C., Canada, V6M 2A3