June 7, 2011
Vancouver, British Columbia… Starcore International Mines Ltd.
(“Starcore” or the “Company”) reports that at the extraordinary general
meeting of shareholders of the Company held on June 3, 2011 (“EGM”),
99.8% of the shareholders present and entitled to vote at the meeting
approved the matters presented to them including the following:
- The Shareholder Rights Plan (the “Rights Plan”)
as first announced in the Company’s press release of May 11, 2011, with
details as disclosed in the information circular sent out all
shareholders. The Rights Plan has not been instituted in response to
any proposal to acquire control of Starcore, nor is Starcore aware of
any such proposals. A copy of the Rights Plan is available on SEDAR at www.sedar.com.
- Certain portions of the financing announced in its March
25, 2011 press release were subject to shareholder approval. At the
EGM, shareholders approved:
- the issuance of 12,947,276 Common Shares and
6,473,637 common share purchase warrants, each warrant (a “Warrant”)
entitling the holder to purchase a further common share of the Company
at a price of $0.15 per share at any time on or before April 7, 2013,
upon the deemed exercise of 12,947,276 previously issued special
warrants of the Company (the “Special Warrants”);
- the issuance of up to 6,473,637 Common Shares upon the exercise of the Warrants; and
- the issuance of up to 1,187,455 Common Shares upon exercise of 1,187,455 Finder’s Warrants.
For more information on the Company visit our website at www.starcore.com
ON BEHALF OF STARCORE INTERNATIONAL
Signed “Robert Eadie”
Robert Eadie, Chairman & Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT: Robert Eadie
Toll Free: 1-866-602-4935 / Facsimile: 1-604-602-4936
The Toronto Stock Exchange has not reviewed nor does it
accept responsibility for the adequacy or accuracy of this press
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