Mascot Mines, Inc. (Formerly Mascot Silver-Lead Mines, Inc.) Concludes Shareholders Meeting
04 Agosto 2005 - 7:24PM
Business Wire
Mascot Silver-Lead Mines, Inc. (Pink Sheets:MSLM) opened a
shareholders meeting Saturday, May 14, 2005, at the Wallace Inn in
Wallace, Idaho. Due to having less than 50% of the outstanding and
issued shares being represented by proxy or in person, the meeting
was adjourned and reconvened on July, 16, 2005, at the Mascot
office in Kellogg. The business of the Shareholders Meeting was
concluded at that time. Mascot Mines, Inc. President Joseph J.
Wallace, Jr. reported the following. Slightly over 50% of the
outstanding and issued shares were represented by proxy. More than
95% of the proxies cast were in favor of the issues before the
shareholders. The nominees for the Board of Directors were elected,
the company name was changed to Mascot Mines, Inc., the
capitalization was increased to 50,000,000 shares from 8,000,000
shares common stock and the number of directors authorized was
increased to "no less than 6 nor more than 10." The nominees for
the Board of Directors were elected for a one-year term by 100% of
the proxies cast. Joseph J. Wallace, Jr., Fred W. Brackebusch,
Charles Asher, Milton Datsopoulos, Kimball Barnard, and Martin
Clemets were elected to the board. The Articles of Incorporation
were amended by votes as follows: 95.45% favorable votes to
increase the capitalization from 8,000,000 shares to 50,000,000
shares common stock. 99.7% favorable votes to change the name of
the company from Mascot Silver-Lead Mines, Inc. to Mascot Mines,
Inc. 99.7% favorable votes to increase the number of directors
allowed from "no fewer than three (3) nor more than five (5)" to
"no fewer than six (6) nor more than ten (10)." Mr. Wallace stated,
"On behalf of myself and the rest of the newly-elected Board
Members, we would like to thank all our shareholders for continuing
to allow us the privilege of continuing to serve as your officers
of Mascot Mines, Inc." However, on a sad note, Mr. Wallace reported
that long-time Mascot Silver-Lead Mines Inc. director and
well-known Coeur d'Alene Mining District mine contractor, owner,
operator Charles Asher, passed away on July 13, 2005, just prior to
the conclusion of the business of the shareholders meeting. The
remaining board members send condolences to the family and the
community for their loss. This news release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. Forward-looking
statements are inherently subject to risks and uncertainties, many
of which cannot be predicted with accuracy, and some of which might
not even be anticipated. This news release is neither a prospectus
nor an offer to sell securities or stocks in the company. It is
intended for informational purposes only.
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