Suche
 
Folgen Sie uns auf:

United Silver Corporation Announces Extraordinary General Meeting

23.10.2012  |  Business Wire

United Silver Corp. ('United Silver Corp.?, the 'Company?, or 'USC?:
TSX; USC: OTC; USCZF: Frankfurt: UM8)
announces that in furtherance
of its reformulation and re-evaluation of its mine plan announced on
August 24, 2012, it has called an extraordinary shareholder meeting
scheduled for October 31, 2012 in Vancouver, BC. The purpose of the
meeting is to approve the Company′s ability to preserve cash by issuing
convertible notes to Hale Capital Partners ('Hale?) in place of paying
cash for our quarterly interest payments due.


On February 1, 2012, we announced that we had borrowed $6,300,000 US
from Hale under a convertible note (the 'Note?) . The Note is
convertible into shares at a conversion price of $0.50 US per share.
Under the Note, interest is payable quarterly in cash or, at our
election, by issuance of additional convertible notes convertible at a
price based on the market price at the time the interest payment was
due. We have already issued two notes in place of paying cash for
interest payments that were due May 1 and August 1, 2012. The next
interest payment is due November 1, 2012.


Under policies of the TSX Stock Exchange, any party who has the right to
convert securities, including convertible notes, into 20% or more of the
Company′s outstanding common stock is considered a 'control person?.
Shareholder approval is required to issue securities to any person where
such issuance would create a new control person. By the Company issuing
new interest payment convertible notes to Hale in the future, Hale would
be deemed a control person because if it converted all its notes into
shares, it would hold 20% or more of the Company′s shares.


The Company is pleased with the current progress on the reformulation
and re-evaluation of its mine plan and expects to be in a position to
make announcements in the near future. A part of our plan will be the
continued judicious and prudent use and preservation of cash, including
our ability to issue convertible notes to Hale for interest payments
instead of using limited cash reserves.


A notice of meeting and information circular has been mailed to all
shareholders and should be received by now. Our board unanimously urges
our shareholders to vote in favour of the items listed for approval at
the meeting by marking your proxies and sending them to our transfer
agent as per the proxy form instructions, or attending the meeting in
person in Vancouver.


We look forward to voting participation of our shareholders with this
important decision.

ABOUT UNITED SILVER CORP.


USC is a vertically integrated mining company with operations in Idaho,
USA. It has a majority interest in the Crescent Silver Mine project in
Idaho's prolific Silver Belt - directly between two of the world's
historically largest silver producing properties, the Sunshine and
Bunker Hill mines. USC also offers a full suite of mining services
including contract mining and mine machine repair and fabrication
services to silver miners in the district. USC's common shares trade on
the Toronto Stock Exchange under the symbol 'USC'. For more information
about USC, please visit: www.unitedsilvercorp.com.

ON BEHALF OF UNITED SILVER CORP.

'Graham Clark'

Chairman and CEO


Investor Relations

Tel. (855) 238-0202

The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.

United Silver Corp.

Investor Relations

Graham Clark,
855-238-0202



Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
United Silver Corp.
Bergbau
-
-
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"