VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2012) - North American Gem Inc. (NAG) (TSX VENTURE:NAG) reports that it held its Annual General and Special Meeting on Friday, June 22nd, 2012, and all items listed on the proxy were approved.
Of note, the shareholders approved a special resolution that the issued and outstanding common shares of the Company be consolidated on the basis of one new common share for up to forty old common shares. The shareholders also approved a special resolution that the Company adopts new Articles under which the Company can change its name by way of a Directors Resolution.
The Company will be making an application to the TSX Venture Exchange to effect the consolidation and amend the Company name.
North American Gem Inc. (TSX VENTURE:NAG) is a junior exploration company based in western Canada which holds certain coal assets within North America., In addition to coal exploration, the Company also has interests in uranium, copper, gold, molybdenum and other base metals in Canada.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
Charles Desjardins, President and Director
This report contains forward-looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
"Neither the 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."