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Tiomin Schedules Annual and Special Meeting of Shareholders for
May 26, 2009
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TORONTO - March 5, 2009: The Board of Directors of Tiomin Resources
Inc. (TSX:TIO) ("Tiomin") has called an annual and special meeting of
the shareholders of Tiomin to be held on May 26, 2009 (the "Meeting").
The Meeting has been called as Tiomin's annual and special meeting and
also in response to a requisition made pursuant to section 143 of the
Canada Business Corporations Act.
Jaguar Financial Corporation ("Jaguar") previously requisitioned a
meeting of Tiomin's shareholders for the purpose of removing the
current Board of Directors of Tiomin and electing a slate of directors
to be proposed by Jaguar. Jaguar's alternate slate of directors will be
considered by shareholders at the Meeting, along with management's
proposed slate of directors. At this time, an alternative slate of
directors has not been proposed by Jaguar.
At the Meeting, shareholders will also be asked to approve and ratify
Tiomin's shareholder rights plan agreement between Tiomin and
Computershare Investor Services Inc. (the "Rights Plan"), which Tiomin
previously announced on December 10, 2008. The Rights Plan is designed
to encourage fair treatment of shareholders in connection with any
take-over bid for Tiomin and to provide the Board of Directors with
more time to consider any unsolicited take-over bid for Tiomin and
pursue, if appropriate, other value enhancing alternatives to allow
shareholders to receive full and fair value for Tiomin's common shares.
A copy of the Rights Plan is available on Tiomin's website at
www.tiomin.com and on SEDAR at www.sedar.com.
About Tiomin Resources Inc.
Tiomin is enhancing shareholder value by the acquisition, exploration
and development of industrial mineral, precious and base metal
projects. Jinchuan, one of China's largest mining companies, owns
approximately 18.7% of Tiomin.
Tiomin has four main assets:
1)approximately $17.3 million of working capital (after the Feb. 20th
Kivu Gold Corp. investment);
2)49% interest in the Pukaqaqa copper and gold project in Peru;
3)100% interest in the Kwale titanium project in Kenya; and
4)33.5% interest in Kivu Gold Corporation, a mineral exploration focused
on sub-Saharan Africa.
Tiomin's share price currently only reflects the value of its working
capital position and it receives no value for its other assets in Peru
or Kenya. Tiomin has an outstanding memorandum of understanding with
Jinchuan whereby Jinchuan would acquire 70% of Tiomin Kenya Limited
('TKL') a wholly owned subsidiary of Tiomin that owns 100% of the Kwale
titanium project, for US$25 million invested into TKL and a commitment
to finance and build the project, 70%.
To find out more about Tiomin Resources Inc., please visit the company
website at www.tiomin.com.
For further information on Tiomin please contact:
Jim O'Neill, VP Corporate Controller and Investor Relations
E-Mail: joneill@tiomin.com
Phone: 416-350-3779, ext. 231
Certain of the information contained in this news release constitutes
'forward-looking statements' within the meaning of securities laws.
Such forward-looking statements, including but not limited to those
with respect to the prices of metals and minerals, estimated future
production and estimated costs of future production involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different
from any forecast results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include, among
others, the actual prices of copper and gold, the actual results of
current exploration, development and mining activities, changes in
project parameters as plans continue to be evaluated, as well as those
factors disclosed in the documents of the Company filed from time to
time with the Ontario Securities Commission.
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Copyright (c) 2009 TIOMIN RESOURCES INC. (TIO) All rights reserved.
For more information visit our website at http://www.tiomin.com/ or
send mailto:news@tiomin.com
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Vaaldiam Mining Inc.
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PRODUCTEUR |
CODE : VAA.TO |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Vaaldiam Mining est une société développant des projet miniers de cuivre basée au Canada. Vaaldiam Mining est productrice de cuivre, de diamants au Bresil, et détient divers projets d'exploration au Bresil, au Canada, au Perou, en Afrique Du Sud et en Republique Centrafricaine. Son principal projet en production est DUAS BARRAS au Bresil et ses principaux projets en exploration sont KILIFI et MAMBRUI au Kenya, HILLTOP PROPERTY au Canada, PUKAQAQA au Perou, ZUURVERDIEND et BOSSIESLAAGTE en Afrique Du Sud et KIMBERLITE en Republique Centrafricaine. Vaaldiam Mining est cotée au Canada. Sa capitalisation boursière aujourd'hui est 140,6 millions CA$ (143,1 millions US$, 103,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 1,70 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,01 CA$. Vaaldiam Mining possède 502 264 000 actions en circulation. |