SASKATOON,
Jan. 31, 2014 /CNW/ - Shane Resources
Ltd. (NEX: SEI.H) ("Shane" or the "Company"),
announced today that it has held its annual and general special
meeting (the "Meeting"). At the Meeting, shareholders
approved all of the resolutions proposed in the management
information circular dated January 6,
2014, including the de-listing of the Company's common
shares from the NEX board of the TSX Venture Exchange on a
"majority of the minority" basis, with the de-listing being a
preliminary step to the winding up of the Company.
Shareholders also approved the sale of substantially all of the
assets of the Company and the winding up of the Company.
Kyle Kozuska,
President and Chief Executive Officer of Shane stated "With
shareholder approval of the de-listing, sale of assets and winding
up of the Company, management will move forward as quickly as
possible to follow through on this mandate."
For additional information regarding the matters
approved at the Meeting please refer to the management information
circular dated January 6, 2014
available on SEDAR at www.sedar.com.
Neither the NEX Exchange nor its regulation
services provider (as that term is defined in the policies of the
NEX Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Certain information set out in this News Release
constitutes forward-looking information. Forward-looking
statements (often, but not always, identified by the use of words
such as "expect", "may", "could", "anticipate" or "will" and
similar expressions) may describe expectations, opinions or
guidance that are not statements of fact and which may be based
upon information provided by third parties. Forward-looking
statements are based upon the opinions, expectations and estimates
of management of the Company as at the date the statements are made
and are subject to a variety of known and unknown risks and
uncertainties and other factors that could cause actual events or
outcomes to differ materially from those anticipated or implied by
such forward-looking statements. Those factors include, but
are not limited to, the closing of the transactions contemplated by
the Purchase and Sale Agreement, the uncertainty of the value of
the non-cash consideration anticipated to be received and the
ability of the Company to satisfy its liabilities, uncertainties
and other factors that are beyond the control of the Company, risks
associated with the industry in general, commodity prices and
exchange rate changes, operational risks associated with
exploration, development and production operations, delays or
changes in plans, risks associated with the uncertainty of reserve
or resource estimates, health and safety risks and the uncertainty
of estimates and projections of costs and expenses. In light
of the risks and uncertainties associated with forward-looking
statements, readers are cautioned not to place undue reliance upon
forward-looking information. Although the Company believes
that the expectations reflected in the forward-looking statements
set out in this press release or incorporated herein by reference
are reasonable, it can give no assurance that such expectations
will prove to have been correct. The Company does not
undertake to update any forward-looking statements except as
required by law.
SOURCE Shane Resources Ltd.