Deutsche Borse, Frankfurt: 3NVN
Germany: WKN A1JVHM/
VANCOUVER, Oct. 5, 2012 /CNW/ - Nass Valley Gateway Ltd. (the "Company" or "Nass Valley") is pleased to announce that at the Company's Annual General and Special Meeting (the "Meeting") held on September 26, 2012, the Nass Valley shareholders unanimously voted in favour of the special resolution approving the announced spin-off of Kirkland Precious Metals Corp. ("KPM"), a wholly owned subsidiary of Nass Valley. The spin-off will be effected by way of a plan of arrangement (the "Arrangement"), subject to among other things, completion of all regulatory filings.
The Company has on October 2, 2012 obtained a final order from the Supreme Court of British Columbia to the implementation of the Arrangement. The Company is pleased to announce that it will be implementing the approved spin-off to NVG shareholders of record on October 12, 2012 (the "Share Distribution Record Date"), with an ex-dividend date of October 9, 2012. Shareholders of Nass Valley will receive one KPM share for every NVG share held as of the Share Distribution Record Date. No action is required by NVG shareholders in order to receive shares of KPM and NVG shareholders will retain their NVG share certificates. Shareholders entitled to receive KPM shares will receive a DRS advice reflecting their ownership of KPM shares, or their brokerage account will be credited with the shares.
At the Meeting, Messrs. Dieter Peter, Andrew von Kursell, Melvin Stevens, Peng Zhang, John Patrick Copeland were elected as Directors of the Company and Manning Elliott LLP, Chartered Accountants were re-appointed as auditors of the Company for the ensuing year. The shareholders also approved the stock option plan for KPM.
At the board meeting held immediately after the AGM, the following officers and committee members were appointed:
|Chairman, President & CEO||Dieter Peter|
|Chief Financial Officer||Michael Zhu|
|Vice President, Treasurer & Corporate Secretary||Josephine See|
| Audit Committee
John Patrick Copeland, Chairman
| Environmental and Safety Committee
Melvin Stevens, Chairman
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements
ABOUT NASS VALLEY GATEWAY LTD.
Nass Valley Gateway Ltd. started off exploring industrial minerals and precious metals and progressed in consulting on viable geothermal exploration projects and resource assessment respectively through its wholly owned subsidiaries, Kirkland Precious Metals Corp. and Nass Energy Inc.
Since 2011, NVG is focused on developing, marketing and establishing environmentally responsible Energy Converting and Waste Disposal Technology, through its subsidiary, Global Environomic Systems Corp. ("GSC"), and progressed in 2012 on specific microwave technology applications through its wholly owned subsidiary, M-Wave EnviroTech Inc. which NVG views as a technology niche complementary to GSC's Enviro-X Technology.
Nass Valley Gateway and its subsidiaries are devoted to building value for their shareholders and employees, contributing to the improvement of the communities in which they operate through employment creation, and implementing sustainable practices designed to preserve and enhance our environment.
The CNSX has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
SOURCE: Nass Valley Gateway Ltd.
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President & CEO