TORONTO, ONTARIO--(Marketwire - July 5, 2012) - Goldeye Explorations Limited (TSX VENTURE:GGY) (the "Company" or "Goldeye") is pleased to announce that at the Company's Annual and Special Meeting of Shareholders held on July 4, 2012 (the "Meeting"), Jorma J. Hannila, J. Richard Dean, Blaine R. Webster, Connie E. Webster and Brian M. Howlett, were re-elected as directors of the Company. Richard E. Nemis did not stand for re-election.
At the Meeting, shareholders passed a special resolution authorizing the directors, in their discretion, to consolidate the outstanding capital of the Company on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares. There are currently 190,196,458 (237,128,958 fully-diluted) common shares outstanding. The consolidation is subject to the approval of the TSX Venture Exchange and further particulars of the timing and procedures for the consolidation will be published following such approval. Following the consolidation, there will be approximately 19,019,645 (23,712,895 fully-diluted) post-consolidation common shares outstanding. In the event that the consolidation would otherwise result in the issuance of a fractional common share, no common share shall be issued and such fractional common share will be rounded down to the nearest whole number. All other matters on the agenda of the Meeting were approved by the shareholders.
Goldeye is a Canadian gold-focused exploration company with properties in mineral rich, politically secure jurisdictions with long traditions of mining. In Canada, Goldeye holds Todd Property in British Columbia and the Tyrrell, Gold Rock and Sandy Lake properties in Ontario. In Chile, Goldeye has the Sonia-Puma property north of Santiago.
On behalf of the board of directors of Goldeye Explorations Limited
Jorma Hannila, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.