Orefinders Reports Results of Annual Meeting including Shareholder Approval of Power Ore Inc. Spin Off
Toronto, Ontario – May 25, 2018 – Orefinders Resources Inc. (“Orefinders” or the “Company”) (TSX.V: ORX) is pleased to announce that its shareholders have approved all resolutions brought before them at the Company’s Annual General and Special Meeting of Shareholders held on May 24, 2018, in Toronto, Ontario.
“Our board, composed of Stephen Stewart, Alexander Stewart, Charles Beaudry, Jeffrey Becker and Claude Bouchard, is happy to have been re-elected again to represent Orefinders on behalf of its shareholders. Furthermore, we are especially pleased to announce the overwhelming shareholder approval for the Power Ore Inc. Plan of Arrangement and spin off. Orefinders will now proceed to seek final Court approval of the Plan of Arrangement and thereafter Power Ore will proceed with its final filings with the TSX Venture Exchange with a view to closing the spin-off on or about May 31, 2018 and listing the shares of Power Ore on the TSXV as soon as possible after closing,” said Stephen Stewart Orefinders CEO.
The motions passed with the following results:
Orefinders would also like to announce that in accordance with the Company’s Stock Option Plan, a total of 200,000 incentive options have been granted to its recently appointed Corporate Development Manager, Gautam Narayanan, at an option exercise price of $0.10 per share, exercisable for a period of five years from the date of issue.
For information and updates on Orefinders, please visit: www.orefinders.ca
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To speak to the Company directly, please contact:
Stephen Stewart, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders’ assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders’ profile at www.sedar.com.