Business & Finance
Business and Finance
Business and Finance
Wed, August 12, 2009 TYPHOON EXPLORATION INC.: Typhoon Shareholders Approve Resolutions at the 2009 Annual Meeting
LAVAL, CANADA--(Marketwire - Aug. 12, 2009) - TYPHOON EXPLORATION INC. (TSX VENTURE:TYP) announce that during the annual and special meeting held on this August 11th, 2009, all the propositions contained in the circular of information were approved or:
-Re-election of Directors proposed by the management.
-Dallaire & Lapointe was re-elected as auditor of the Company.
-Approval by shareholders of the price modification on 285 000 stock option already granted at the price of $ 0,115 per share.
Stock Option
During a meeting of the board of directors, it was approved to grant 300,000 stock options (25,000 consultants, 25,000 employees and 250,000 directors) at a price of $0.125 per share for period expiring on August 11th, 2014.
Following a transaction between Midland Exploration inc. and Osisko Mining Corporation, Osisko establishes its presence in Clericy sector (Rouyn-Noranda) with an option to acquire a participation of 50 % of a property located very close to the Fayolle project (188,000 ounces of gold in Inferred Resources) owned 100% by Typhoon. Typhoon thus welcomes this new player in this region recognized for its gold-bearing potential.
The common shares of Typhoon Exploration are listed on the Venture Stock Exchange under the symbol "TYP".
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these "forward-looking statements ". The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
