Energizer Resources Inc. (formerly Uranium Star Corp.) (TSX.V: EGZ; OTCBB: ENZR; FRANKFURT: YE5) (“Energizer” or the “Company”) announces that the Special and Annual Meeting of its Stockholders was held in Toronto, Ontario, Canada on December 16, 2010.
At the meeting, holders of more than 97% of the outstanding common stock cast at the meeting voted to approve the election of the following persons to serve as directors of the Company. Each director will hold his or her office for a term expiring at the next annual meeting of stockholders or until his or her successor is duly elected and qualified:
- J.A. Kirk McKinnon
- Richard E. Schler
- Julie A. Lee Harrs
- John Sanderson
- V. Peter Harder
- Richard Quesnel
- Quentin Yarie
- Craig Scherba
Four other matters were submitted to the Company's stockholders for their approval. All were approved with a strong majority of the votes cast. The Company is pleased to announce the following voting results of each of the resolutions:
- holders of over 92% of the common stock cast at the meeting voted to increase the authorized capital stock to 350,000,000;
- holders of over 92% of the common stock cast at the meeting voted to approve and ratify an amendment to the Company’s Amended and Restated 2006 Stock Option Plan to increase the number of options for common shares authorized to be issued to 22,000,000;
- holders of over 93% of the common stock cast at the meeting voted to approve a change to the Company’s Amended & Restated Bylaws, Article II – Meetings of Shareholders, Sections 2 and 3, reducing the required quorum for both Regular and Special General Meetings of Shareholders to ten percent of the shares outstanding;
- holders of 96% of the common stock cast at the meeting voted to ratify the appointment of MSCM LLP, Chartered Accountants, as the Company's independent registered public accounting firm for the fiscal year ending June 30, 2011
Following the completion of the meeting, the board of directors of the Company approved the reappointment of the following executive officers:
- J.A. Kirk McKinnon, Chief Executive Officer and Chairman
- Julie A. Lee Harrs, President and Chief Operating Officer
- Richard E. Schler, Vice President and Chief Financial Officer
- Joseph Heng, Secretary
For more information please visit our website at www.energizerresources.com
Vice President of Business Development
Toll Free: 800.818.5442 or 416.364.4911
or Julie Lee Harrs, President and COO
Cautionary Statement: The above resource estimates were calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms “measured”, “indicated” and “inferred” mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. This mineral resource estimate includes inferred resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that the inferred mineral resource will be converted to the measured and indicated mineral resource categories through further drilling, or into a mineral reserve once economic considerations are applied.
U.S. investors should understand that “inferred” mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of the Company’s mineral resources constitute or will be converted into reserves.
Safe Harbour Statement:The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release issued by the Company. This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
Forward-looking statements include, receipt of regulatory approval, statements on the proposed use of proceeds; completion of financing on terms proposed; the ability to raise additional funds as required; the development potential and timetable of the Company’s properties and minerals; the current and future price of minerals the Company explores; the estimated size of mineral deposits on the Company’s properties; the realization of those mineral deposit estimates; the timing and amount of estimated future exploration, development and production; costs of future exploration, development and production activities; success of exploration activities; government regulatory matters; discussion of political and environmental risks.
Forward-looking statements are based on the opinions and estimates of management of the Company. Forward-looking statements are subject to known and unknown risks that may cause actual results to be materially different from stated opinions and estimates of management. Some of the Company’s more material risks are: availability and timing of external financing; unexpected events and delays during exploration; receipt of government and stock exchange approvals; results of current exploration activities; future price of minerals; political risks in the locations of the Company’s properties; appreciation/depreciation of foreign currencies relative to the United States Dollar (the Company’s functional currency) and other risks inherent in the mining and exploration industry.
While Company’s management has attempted to determine the factors that could cause actual results to differ materially from estimated results contained in forward-looking statements, there may be other factors that cause results not to be as anticipated. The Company provides no assurance that such forward-looking statements will prove accurate or not materially different than projected. Therefore readers of this and other press releases issued by the Company should not place unreasonable reliance on stated forward-looking statements.
This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.