Canada Silver Cobalt Works Inc. announced the results of its Annual and Special Meeting of Shareholders, held February 28, 2019. At the meeting, shareholders approved all items of business placed before them, including the approval of a change of name of the company to Canada Silver Cobalt Works Inc. from Canada Cobalt Works Inc.
Shareholders also approved the consolidation of the company’s issued and outstanding common shares on the basis of one (1) post-consolidation share for each ten (10) pre-consolidation shares, and the election of six directors to serve until the next meeting of shareholders, as well as the reappointment of Davidson & Company LLP, Chartered Professional Accountants as auditor of the company and the authorization of the board of directors to fix their remuneration.
The company also provided an update on its Quebec gold-focused exploration projects, including the Destor Project, its largest exploration project area, encompassing six mining claims totalling 2,336 hectares located in the prolific Abitibi Gold Belt of Quebec.
The company also discussed its strategic investments into cobalt refining and battery manufacturing, and its ongoing construction of a cobalt refining and battery manufacturing facility in Ontario.
In addition, the company provided an update on its resource expansion programs at its Ontario and Quebec projects, including its ongoing drill program at its Goodfish Project and its plans for underground exploration at its Castle Expansion Project.
Overall, the meeting was a successful one and provided the shareholders with strong insight into the company’s future plans and strategies. Despite a volatile commodities market, the company is poised to remain an industry leader in the cobalt and battery metal arena.