Selwyn Shareholders Approve Sale of 50% Interest in Selwyn Project; Shares Up 7%


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Selwyn Resources Ltd. (SWN.V) announced that at a special meeting held today, the company's shareholders approved by special resolution the previously announced sale of its remaining 50% interest in the Selwyn Project to its joint venture partner, Chihong Canada Mining Ltd.

Dr. Harlan Meade, President, Chief Executive Officer and a director of the company, stated: "We are very pleased that our shareholders approved this transaction. At the meeting, a number of shareholders expressed support for the recently announced position of Samara Capital Inc. regarding the payment of a dividend. The company will be updating the market on its views of the dividend and the timetable for the meeting to consider the annual meeting matters."

SWN shares gained half-a-cent to $0.075 on volume of 803,500.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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