TORONTO, May 23, 2013 /CNW/ - Moneta Porcupine Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA: MOP) ("Moneta" or the "Company") is pleased to announce the results from its annual general meeting held on May 21, 2013.
Over 72 million shares were voted in support, approving the standard resolutions for the election of directors, the appointment of the financial auditor, the name change of the Company to Windjammer Gold Inc., approval of the amendments to the 2010 stock option plan, as well as approval of By-Law No. 2 which effectively increases the quorum requirements at meetings and adds advance notice provisions for the nomination of directors by shareholders.
Ian C. Peres, President and CEO of Moneta commented, "This level of shareholder voting participation continues to be impressive and highly unusual. We would like to thank shareholders for their overwhelming voting support in very turbulent markets.
The Company is in a healthy treasury position with over $7.5 million in cash on hand at March 31, 2013, adequate to undertake an aggressive 2013 program of our significant Golden Highway Project and sufficient to operate through 2014 if these market conditions persist."
The name change to Windjammer Gold Inc. is expected to be completed within sixty to ninety days and will be processed cost effectively in house. All necessary regulatory approvals have been obtained including the reservation of the new trading symbol. Further information will be communicated via press release prior to the name change taking force.
Moneta holds a 100% interest in 5 core gold projects strategically located along the Destor Porcupine Fault Zone in the world class Timmins Camp with over 75 million ounces of past gold production. Moneta's land position is one of the largest after three gold producers including the highly prospective Golden Highway Project. The Golden Highway Project covers 12 kilometers of a highly prospective volcanic/sedimentary belt along the Destor Porcupine Fault Zone, has exceptional infrastructure including paved highway access, water, electricity, skilled labor force, and nearby mills, and currently hosts a NI 43-101 resource estimate of 1,091,000 ounces indicated (31.1 Mt at 1.09 g/t Au) plus 3,204,000 ounces inferred (83.3 Mt at 1.20 g/t Au), clustered within four kilometres.
SOURCE: Moneta Porcupine Mines Inc.
For further information:
Ian C. Peres, President & CEO