Pacific Ridge Exploration Ltd. (PEX.V) reported the results of
its 2013 Annual General and Special Meeting, including approval of
a proposed share consolidation.
Shareholders re-elected John S. Brock, C. Douglas Proctor, R.E.
Gordon Davis, Sargent Berner and Bruce Youngman as directors of the
company for the ensuing year. PricewaterhouseCoopers LLP was also
re-appointed as auditors of the company and the company's rolling
stock option plan was re-approved. The Board of Directors also
approved the re-appointment for the ensuing year of John S. Brock
as CEO and President, Gerry Carlson as Vice President Exploration,
Lei Wang as Chief Financial Officer and Arie Page as Corporate
By way of a special resolution, shareholders approved a proposed
consolidation of the issued common shares of Pacific Ridge. At a
subsequent meeting of the company's Board of Directors, approval
was given for the share consolidation on a 1 new share for 5 old
shares basis. As at the date hereof, there are an aggregate of
71,064,936 common shares issued and outstanding. It is expected
that upon completion of the share consolidation there will be an
aggregate of approximately 14,212,987 common shares issued and
Approval of the consolidation was required in order to
facilitate future financing of the company as well as the effecting
of a proposed property option agreement with a third party, the
details of which will be announced upon execution of such
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