(TORONTO, ONTARIO) Honey Badger Exploration, Inc. (TUF: TSX-V) (the “Company”) announces the results of its Annual General and Special Meeting (“AGM”) of its Shareholders held on June 23, 2011 at the Company’s corporate offices. A quorum of the Company’s outstanding common stock as of the record date of May 16, 2011 was present in person or by proxy at the AGM.
To receive and consider the financial statements of the company for the fiscal year ended December 31, 2010 and the Auditors’ Report thereon.
To appoint MSCM LLP, Chartered Accountants, as the auditors of the Company, and to authorize the Directors to fix the remuneration.
To elect Directors to serve until the next Annual General Meeting of Shareholders or until their successors are elected or appointed.
To approve continuation of the Stock Option Plan of the Company as instituted and as approved by the TSX Venture Exchange.
To approve share issuances in lieu of cash remuneration to Directors and Officers with respect to services rendered to a maximum limit of 2,000,000 shares collectively.
To approve the sale of the remaining 49% interest in the Blackjack Property.
The resolution to approve a share consolidation as per the addendum to the information circular dated May 16, 2011 was withdrawn from consideration at the Meeting.
- Voting Summary on Resolutions
- Resolution No. 2) More than 99% of the shares voted to approve the re-appointment of the Company’s auditors, MSCM LLP, Chartered Accountants for the coming fiscal year.
Resolution No. 3) More than 85% of the shares voted to approve the election of each of the following persons to serve as directors of the Company, each to hold office for a term expiring at the next annual meeting of shareholders or until their successor(s) have been duly elected and qualified:
J.A. Kirk McKinnon
Kenneth M. Thompson
Resolution No. 4) More than 85% of the shares voted to approve continuation of the current “Stock Option Plan” in accordance with the recommendations as described in the TSX Venture Exchange.
Resolution No. 5) More than 86% of the shares voted to approve the issuance in lieu of cash remuneration to Directors and Officers with respect to services rendered to a maximum limit of 2,000,000 shares collectively.
Resolution No. 6) More than 98% of the shares voted to approve the sale of the remaining 49% interest in the Blackjack Property.
Board Of Directors’ Meeting
The Company is also pleased to announce that on June 23, 2010, following the AGM, a meeting of the Board of Directors of the Company was conducted via telephone conference in Toronto, Ontario, Canada.
At the Meeting, the Board of Directors approved the following appointments to serve in those capacities until the next annual Meeting of Shareholders:
J.A. Kirk McKinnon as President and Chief Executive Officer
Richard Schler as Chief Operating Officer and CFO
Peter Liabotis as Secretary
Subject to approval by the TSX Venture Exchange, the Company will modify 2,015,000 stock options with an exercise price of $0.10 per share and due to expire on April 1, 2012 to a further term expiring June 30, 2016 at the same exercise price in accordance with the Company’s stock option plan.
About Honey Badger Exploration Inc.
Honey Badger Exploration is a gold and base-metals exploration company headquartered in Toronto, Ontario, Canada. The Company’s current exploration projects are focused in the mining-friendly State of Nevada. The “Yerington Project” is a copper porphyry and skarn property near the town of Yerington, and positions the Company for new exploration in prolific copper districts. The Company's common shares trade on the TSX Venture Exchange under the symbol “TUF”.
For more information, please visit our website at http://www.honeybadgerexp.com
Honey Badger Exploration Inc.
Vice President of Business Development
Tel.: (416) 364-4029
Fax: (416) 364-2753
or Kirk McKinnon, President & CEO, or Richard Schler, Chief Operating Officer & CEO
This News Release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995, with respect to its exploration results, the potential for discovery of additional mineralized zones and future exploration programs and budgets. These forward-looking statements are made as of the date of this news release. Users of forward-looking statements are cautioned that actual results may vary from the forward-looking statements contained herein. While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company's future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, the effects of general economic conditions, the prices of gold and copper, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking statements. In addition, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.