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Richview Resources Inc. Announces Results From Their Annual and Special Meeting of Shareholders
Market Wire, June, 2008
Richview Resources Inc. (TSX: RVR) ("Richview") announces that it held its Annual and Special Meeting of Shareholders on Monday, June 23, 2008. A number of items of business were put before the shareholders and all items requiring shareholder approval were duly passed.
Board of Directors
The following individuals were elected to serve as directors of Richview for the ensuing year: Senator J. Trevor Eyton, Sol Prizant, Dino Titaro, David Danziger, Eran Ostfeld and Trevor Rabie.
Appointment of auditors
Grant Thornton LLP, Chartered Accountants, were re-appointed to serve as auditors of Richview for the ensuing year.
Approval of private placement to MineralFields Group
Shareholders approved the issuance to the MineralFields Group of convertible securities entitling the MineralFields Group to acquire an aggregate of 21.12 million Common Shares of Richview. These convertible securities were originally issued to the MineralFields Group as part of a private placement of units comprised of shares and warrants that closed in November, 2007 and April, 2008.
Approval of private placement in excess of 25% of Richview's issued and outstanding common shares
Shareholders also approved and authorized a private placement of 40 million units of Richview at a subscription price of $0.10 per unit, each unit being comprised of one non-flow through Common Share and one warrant, each warrant entitling the holder to acquire one non-flow through Common Share at a purchase price of $0.25 for a period of 24 months from the day of closing of the transaction.
Other matters
In addition, Richview announces the following information, subject to regulatory approval:
Sunil Joseph has been appointed to the board of directors. Mr. Joseph has also been appointed as Richview's Vice President, Corporate Finance.
Stock options totalling 1,350,000 have been granted to officers of Richview. The options are subject to a vesting schedule and exercisable at $0.10 per share and valid for a five year period from the date of grant.
The following individuals have been appointed to serve as officers of Richview for the ensuing year:
President and CEO: Sol Prizant
CFO and Corporate Secretary: Gary Cilevitz
Vice President-Corporate Finance: Sunil Joseph
Senator J. T. Eyton will serve as Chairman of the Board of Directors.
About Richview
Richview is the sole owner of the past-producing Thierry Mine property in north-western Ontario, adjacent to the town of Pickle Lake. Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.
Neither the Toronto Stock Exchange nor any other securities regulatory authority has reviewed or accepted responsibility for the accuracy or adequacy of this news release.
Contacts: Richview Resources Inc. Sol Prizant CEO and President (416) 703-5435 Email: info@richviewresources.com Website: www.richviewresources.com