Fortune Valley Resources Inc. Files Revised Annual Information Form
08 8월 2009 - 12:29PM
Marketwired
Fortune Valley Resources Inc. (TSX VENTURE: FVX) announces that it
filed a revised annual information form on July 8, 2009.
FVX refiled its AIF to:
1. Correct the number of options and shares outstanding and the
number of shares held in escrow. The number of shares outstanding
was revised from 29,787,624 to 29,787,625. The number of options
outstanding was revised from 1,920,000 to 1,500,000. The number of
shares held in escrow as at December 31, 2008 was revised from
5,221,128 to 6,961,500.
2. Disclose that a purchase option agreement between the Company
and Luis Fernando Pasten Ogalde for certain concessions was a
material contract.
3. Disclose that the Company was not in compliance with the
policies of the TSX Venture Exchange with respect to the
composition of its audit committee. The audit committee is composed
of two directors one of whom is independent. The policy requires an
audit committee to be composed of three members, the majority of
whom are independent. The Company has agreed to be in compliance
with the policy by September 4, 2009.
4. Disclose that Michael Gingles has an option to acquire up to
275,000 Common Shares and Max Oemick has an option to acquire up to
250,000 Common shares of the Company.
When revising the AIF the Company took the opportunity to expand
on its disclosure including disclosure that:
1. The Company agreed to grant stock options to Bitterroot LLC,
a supplier of consulting services to the Company, allowing them to
acquire 250,000 common shares in the Company. This grant is subject
to the approval of the TSX Venture Exchange. Robert Perry, the
Qualified Person as defined under National Instrument 43-101
responsible for the scientific and technical work since February 1,
2009, is a Partner and the Professional Geologist of Bitterroot
LLC.
2. The Company agreed to grant stock options to a technical
consultant allowing him to acquire 100,000 common shares in the
Company. This grant is subject to the approval of the TSX Venture
Exchange.
3. Since December 31, 2008 894,445 brokers' options expired as
did 4,472,222 warrants. As at the date of the AIF no brokers'
options or warrants were outstanding.
In the refiled AIF the Company provided additional disclosure
concerning events occurring between the originally filed AIF and
the refiled AIF, including disclosure that:
1. Since December 31, 2008 and as at July 6, 2009 certain option
agreements were abandoned resulting in the Company maintaining
5,846 hectares of preferential concessions in the Incahuasi Este
area as opposed to the 8,246 hectares of preferential concessions
held as at December 31, 2008. The Company also announced that it
renegotiated the payment schedule with the optionors of the
Incahuasi Este property.
2. Since the date of the originally filed AIF the Company has
abandoned the Tres Puntas, Aqua Buenas and Este de la Alumbrera
properties. The Company is in the process of negotiating a deferred
payment schedule with the optionor of the Este de la Alumbrera
property but currently only holds exploration or exploitation
concession rights in the Incahuasi and Anillo properties, both of
which are in Chile, for an overall land position totalling 36,446
hectares.
3. Since the date of the originally filed AIF Max Oemick has
been appointed Secretary of the Company.
The refiled AIF incorporates information disclosed in the
financial statements of FVX filed after the originally filed
AIF.
The Board of Directors
Fortune Valley Resources Inc.
To receive company news releases via e-mail, please advise
catarina@chfir.com and specify "Fortune Valley Resources press
releases" in the subject line.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: CHF Investor Relations Robin Cook Senior Account
Manager (416) 868-1079, Ext. 228 (416) 868-6198 (FAX)
robin@chfir.com www.fortunevalleyresources.com
Fortune Valley Resources Inc. Com Npv (TSXV:FVX)
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Fortune Valley Resources Inc. Com Npv (TSXV:FVX)
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