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