TORONTO, April 15, 2009 /CNW/ - Shareholders holding a majority of the
shares of Polar Star Mining Corporation have chosen to vote their proxies in
support of Doug Willock and his nominee Board of Directors.
Willock's proxy solicitation agent Kingsdale Shareholder Services Inc.
("Kingsdale") today deposited with Polar Star's transfer agent proxies
representing close to 60 percent of Polar Star's outstanding shares. The
proxies deposited by Kingsdale were voted over 99 percent in favour of the
removal of the current board and replacing them with Willock's nominees.
"I am very pleased to receive this strong support," stated Mr. Willock,
"from the start, this proxy contest was about protecting the shareholders'
interests. This will continue to be the prime focus of the company."
The first priority of the new Board and Management will be a thorough
property review, including analysis of the recent NI 43-101 technical report
of the Chépica project and instituting a disciplined drill program at
The new Board will adopt and follow best practices in corporate
governance. Five of the seven nominee directors are independent, including the
Chairman. The proposed Audit and Compensation Committees will be entirely
composed of independent directors and the duties and responsibilities of
officers will be clearly defined. It is anticipated that Doug Willock will
return to his position as President and CEO of Polar Star Mining.
For further information:
For further information: Investor Contact: Kingsdale Shareholder
Services Inc., Marcus N. Campbell, T: (416) 867-2357; Proxy Solicitation Firm,
Kingsdale Shareholder Services Inc., North American Toll Free Phone:
1-800-749-9052, Outside North America, Banks and Brokers Call Collect: (416)
867-2272, Fax Number: (416) 867-2271, Toll-Free Fax: 1-866-545-5580,