TORONTO, ONTARIO--(Marketwired - Nov 12, 2013) - Oremex Silver (TSX VENTURE:OAG) (the "Company") will continue with its plans to hold its duly-convened Annual General Meeting of shareholders (the "Meeting") on December 31, 2013. The related proxy materials and management information circular will be provided to shareholders on or prior to the week of December 6, 2013, in accordance with prescribed timelines.
The Company originally convened an annual and special meeting of shareholders by issuing the requisite notice on September 27, 2013, for a meeting to be held November 26, 2013 and, as such, was under no obligation to convene another meeting in response to a shareholder requisition which was subsequently received by the directors of the Company and which action had also been publically announced by the shareholder making the requisition.
The Company subsequently convened the Meeting for December 31, 2013, primarily as result of having focussed its recent efforts to, among other things, continue to seek a reinstatement for trading with the TSX Venture Exchange, which has granted approval to the Company to formally adopt a fixed stock option incentive plan in lieu of a rolling stock option plan, reserving for issuance of a maximum of 8,875,000 stock options under the plan (such that there was no longer a need for special business to be contemplated at the meeting). The Company is also aware of a form of proxy circular prepared by the same shareholder which has been made publically available but has not been prepared in connection with Meeting to be held on December 31, 2013, at which all shareholders are invited to attend. The Company continues to work towards implementing its strategic plan and corporate objectives and will respond to any further matters raised prior to the Meeting in due course.
About Oremex Silver Inc.
Oremex is a Canadian company focusing on the exploration and development of silver projects along the highly productive mineralized belt in Mexico. The Company has a portfolio of silver projects including a mineral resource of 50.8 million ounces of silver at its Tejamen deposit. The Company's projects are located in mining-friendly jurisdictions and the management team has a successful track record of mine-building in Mexico.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Oremex's public filings, anticipated events or results and can be identified by terminology such as "may", "will", "would", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to entering into definitive and binding agreements with respect to financings, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, the receipt of exemptive relief from securities requirements, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other public filings of Oremex, and include the ultimate availability and final receipt of required approvals and/or exemptive relief, the decision of third parties to consummate definitive agreements with Oremex, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and other sources of financing and associated cost of funds, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime and the ultimate ability to execute its business plan on economically favourable terms. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Oremex filings on www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Oremex does not intend, and undertakes no obligation, to update any forward-looking information to reflect, among other things, new information or future events.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.