Southern Arc Announces Results of Annual General Meeting
Southern Arc Minerals Inc. (TSX Venture Exchange: SA) shareholders approved all matters put before them at the Company’s Annual General Meeting held on November 17, 2011. The Company is pleased to announce that Messrs. John G Proust, Michael J. Andrews, David M. R. Stone, Robert J. Gallagher and Mohammed Al-Shahwani were elected to the Board of Directors. Shareholders ratified the Company’s stock option plan, which permits the Company to grant options for up to 10% of the number of shares outstanding from time to time.
The Company also wishes to announce that it has granted an aggregate 1,255,000 stock options to directors, officers and consultants of the Company, exercisable at a price of $0.90 per common share, for a period of five years. The stock options will vest as to 25% every 6 months for a period of 24 months.
On behalf of the Board of
Southern Arc Minerals Inc.
Chairman & CEO, Director
About Southern Arc
Southern Arc Contact
Vice President, Communications & Investor Relations
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