VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2013) - Lincoln Mining Corporation (TSX VENTURE:LMG) ("Lincoln" or the "Company") announces that further to its news release of August 13, 2013, the Company received shareholder approval at the Company's annual general meeting held on September 16, 2013 (the "Meeting"), to consolidate the Company's common shares on the basis of one (1) post-consolidation common share for every five (5) pre-consolidation common shares.
The resolution approved by shareholders at the Meeting permits the board of directors of the Company, without further approval by the shareholders, to select the final consolidation ratio (up to a ratio of 1:5) and proceed with the consolidation at any time within the 12 months following the date of the Meeting, subject to approval by the TSX Venture Exchange. Alternatively, the board may choose not to proceed with the consolidation.
The Company also reports that the board determined not to present the Company's Shareholder Rights Plan (the "SRP"), last approved by shareholders on May 21, 2010, for re-approval by the shareholders at the Meeting. As a result, the SRP was allowed to lapse and effective September 16, 2013 is of no further force and effect.
All other matters specified in the notice calling the Meeting, including the election of directors and ratification of Lincoln's stock option plan, received the requisite shareholder approvals at the Meeting.
Lincoln Mining Corp. is a Canadian precious metals exploration and development company with several projects in various stages of exploration and development which include the Pine Grove and Bell Mountain gold properties in Nevada, the Oro Cruz gold property in California and the La Bufa gold-silver property in Mexico. In the United States, the Company operates under Lincoln Gold US Corp. and Lincoln Resource Group Corp. both Nevada corporations. The Company's United States operations remain subject to an order issued by the Committee on Foreign Investment in the United States, as disclosed in the Company's news release dated June 18, 2013.
On behalf of Lincoln Mining Corporation
Paul Saxton, President & CEO
NEITHER THE 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.
INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES OF LINCOLN IN RESPECT OF PLANS FOR THE PROPOSED SHARE CONSOLIDATION ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. THE COMPANY MAKES ALL REASONABLE EFFORTS TO UPDATE ITS CORPORATE MATERIAL, DOCUMENTATION AND FORWARD-LOOKING INFORMATION ON A TIMELY BASIS.