TORONTO, ONTARIO, Dec 31, 2013 (Menafn – Marketwired via COMTEX) –The shareholders of Oremex Silver Inc. elected a new board ofdirectors at its annual meeting held in Toronto on December 31, 2013.Frank Hogel, Allan Folk, and Keith Stein were elected as directors ofthe company.
“It has been gratifying to receive overwhelming shareholder supportfor the new board,” said Frank Hogel of Concept Capital Management.”We would like to thank all of our supporters as we get Oremex backto business. We look forward to improving corporate governancemeasures at Oremex and working in the interests of all shareholders.”
The newly elected directors plan to convene their first board meetingafter the holidays in January 2014.
Further to the press release of the Company dated December 2, 2013,wherein the Company announced the closing, in escrow, of a privateplacement financing transaction with GRIT, the Company wishes toconfirm that the Company has issued 34,500,000 units (“Units”) at aprice of 0.05 per Unit to Global Resources Investment Trust Plc(GRIT) effective November 29th, 2013 and that the certificatesrepresenting the common shares and warrants comprising the Units arebeing held in escrow pending the completion of the listing ofordinary shares of GRIT (the “GRIT Shares”) on the London StockExchange (LSE), upon the occurrence of which the subscriptionreceipts shall automatically be exercised and the Company shallreceive one GRIT Share for each subscription receipt held by theCompany, without payment of any additional consideration, and thecertificates representing the common shares and warrants of theCompany shall be released to GRIT. As a result of the previouslyannounced decision by the Ontario Superior Court to move the recorddate of the Meeting from November 29th 2013 to November 27th, 2013,the common shares partially comprising the Units, were not eligibleto be voted for the purposes of the Meeting as they were issued afterthe revised record date.
About Oremex Silver Inc.
Oremex is a Canadian company focusing on the exploration anddevelopment of silver projects along the highly productivemineralized belt in Mexico. The Company has a portfolio of silverprojects including a mineral resource of 50.8 million ounces ofsilver at its Tejamen deposit. The Company’s projects are located inmining-friendly jurisdictions in Mexico.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constituteforward-looking information (collectively “forward-lookinginformation”) within the meaning of Canadian securities laws.Forward-looking information may relate to this news release and othermatters identified in Oremex’s public filings, anticipated events orresults 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 arenot historical facts and include, but are not limited in any mannerto, those with respect to entering into definitive and bindingagreements with respect to financings, capital and operatingexpenditures, economic conditions, availability of sufficientfinancing, receipt of approvals, the receipt of exemptive relief fromsecurities requirements, satisfaction of closing conditions and anyand all other timing, development, operational, financial, economic,legal, regulatory and/or political factors that may influence futureevents or conditions. Such forward-looking statements are based on anumber of material factors and assumptions, including, but notlimited in any manner to, those disclosed in any other public filingsof Oremex, and include the ultimate availability and final receipt ofrequired approvals and/or exemptive relief, the decision of thirdparties to consummate definitive agreements with Oremex, sufficientworking capital for development and operations, access to adequateservices and supplies, availability of markets for products,commodity prices, foreign currency exchange rates, interest rates,access to capital markets and other sources of financing andassociated cost of funds, availability of a qualified work force,availability of manufacturing equipment, no material changes to thetax and regulatory regime and the ultimate ability to execute itsbusiness plan on economically favourable terms. While the Companyconsiders these assumptions to be reasonable based on informationcurrently available to it, they may prove to be incorrect. Actualresults may vary from such forward-looking information for a varietyof reasons, including but not limited to risks and uncertaintiesdisclosed in other Oremex filings on www.sedar.com and otherunforeseen events or circumstances. Other than as required by law,Oremex does not intend, and undertakes no obligation, to update anyforward looking information to reflect, among other things, newinformation 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.
Kingsdale Communications Inc.
Director of Communications
SOURCE: Concept Capital Management Ltd.