Pambili reports results of special shareholder meeting
CALGARY, Canada (Feb. 9, 2023) — Pambili Natural Resources Corporation ("Pambili" or the "Corporation") (TSX-V: PNN) is pleased to report the outcome of several resolutions presented for consideration at Pambili’s special meeting of shareholders, held on Dec. 28, 2022 at the offices of the Corporation.
The following resolutions received the required shareholder approval:
A share consolidation of up to a maximum of ten for one (10:1) at any time within 12 months of the meeting, as the Board of Directors sees fit.
An application to convert Extraordinary Debt to shares at C$0.025, subject to final approval by the TSX.
The appointment of a fourth Director to the Board.
“The Company is engaged in discussions with several potential Director candidates, any one of whom would add significant value to Pambili as we consolidate our position in the mining sector,” says Jon Harris, Pambili’s Chief Executive Officer.
An application to convert a total of C$788,221.39 of debt (including the Extraordinary Debt) has been submitted to the TSX for approval which, once received, will result in the issuance of 31,528,860 new shares in the Company.
The above initiatives are intended to facilitate securing the next round of investment required to fund due diligence on several producing gold targets in Zimbabwe.