EDMONTON, Alberta, March 25 /PRNewswire-FirstCall/ -- Echo Bay Mines Ltd.
(Amex: ECO; TSE) announced today that the special general meeting of
shareholders called for today was adjourned for lack of a quorum. The
Company's by-laws specify a quorum level of 50 percent. The meeting had been
called to ask shareholders' approval for the issuance of 361,561,230 common
shares, which are to be used to retire substantial long term debt of the
Company.
An application will be made Tuesday, March 26, 2002 at 9:00 a.m. before
the Honourable Mr. Justice E. P. MacCallum of the Court of Queen's Bench in
Edmonton, Alberta for an order directing that the meeting be held in Toronto,
Ontario at 9:00 a.m. Thursday, March 28, 2002. Pending consideration of this
application, the shareholders' meeting has been adjourned to that time and is
scheduled to be held in the Jackson Room of the Toronto Hilton Hotel,
145 Richmond Street West, Toronto, Ontario.
The Company is seeking an order under the Canada Business Corporations Act
which would provide that the quorum for the shareholders' meeting would
comprise those shareholders present in person or represented by proxy. When
the meeting was adjourned, 26.9 percent of shareholders entitled to vote were
represented at the meeting. Of those who voted, 90.5 percent were in favour
and 9.5 percent against the one item of business presented for consideration
at the meeting.
Echo Bay mines gold and silver in North America. The primary markets for
its common shares are the American and Toronto stock exchanges.
SOURCE Echo Bay Mines Ltd.
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Related links:
http://www.echobay.com
CONTACT:
Lois-Ann L. Brodrick, Vice President and
Secretary, Echo Bay Mines Ltd., +1-780-496-9704
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