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Colossus
Minerals Inc. (the "Company" or "Colossus") (TSX: CSI) is
pleased to announce that the Annual General and Special Meeting was held on
Friday January 21, 2011 in Toronto. The results of voting by shareholders on
matters submitted to the annual meeting are:
Election
of Directors: Patrick F. N. Anderson, John Frostiak,
Greg Hall, Douglas Reeson, Ari Sussman
and Vic Wall were re-elected as Directors of the Company.
Appointment
of Auditors: KPMG LLP, Chartered Accountants, were appointed as auditors of
the Company until the next Annual
General Meeting , and the directors
were authorized to fix the remuneration of the auditors.
Stock
Option Plan Resolution: The Stock Option Plan resolution was approved as
presented (by ballot - 53% in favour, 47% against).
Expiry
of Warrants
The
Company would also like to remind certain warrantholders
that the outstanding unexercised 2008 series common
share purchase warrants
trading on the Toronto Stock Exchange under the symbol CSI.WT are set to
expire at 5:00pm (Toronto time) on February 13, 2011. Any Warrants remaining
unexercised after the expiration deadline will be cancelled, delisted, and
will thereafter be of no force or effect.
As
of January 24, 2011, there were 6,102,570 warrants outstanding at an exercise
price of $2.00 per share. Assuming all warrants are exercised net proceeds to
the Company would be $12.2 million.
How
to Exercise Warrants
Warrant
holders who wish to exercise their Warrants should instruct their investment
advisor to effect an "immediate exercise" and be prepared to
provide payment (by certified cheque, bank draft or
money order payable to Colossus Minerals Inc.) to the investment advisor firm
equal to the exercise price for each warrant exercised. Once Equity Financial
Trust Company receives payment and the required documentation the Warrants
will be cancelled and the warrant holder will receive Colossus common shares.
Investors
should consult with their investment advisor to confirm the time required to
complete this process and other costs associated with the exercise, if any.
Warrant
holders who hold a physical certificate wishing to exercise warrants are
required to provide Equity Financial Trust with a certified cheque, bank draft or money order payable to Colossus
Minerals Inc., and the warrant certificate with the subscription form on
reverse completed.
For
assistance, contact Equity Financial Trust Company, Investor Relations
directly at 1-866-393-4891, or 1-416-361-0152.
About
Colossus:
Colossus
is a pre-production stage mining Company focused on putting into production the
high grade gold-platinum-palladium Serra Pelada
project in Brazil. Between 1980 and 1986 Serra Pelada
was host to the largest precious metals rush in Latin American history.
Coverage by 60 Minutes of this famous mining rush can be viewed at the
following link: http://sixtyminutes.ninemsn.com.au/article.aspx?id=299887.
CAUTIONARY
STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except
for statements of historical fact relating to Colossus, certain statements in
this press release relating but not limited to the Company's exploration
plans, activities and intentions, constitute "forward-looking
information" within the meaning of the Securities Act (Ontario) or
"forward-looking statements" within the meaning of the United
States Private Litigation Reform Act of 1995. These forward-looking
statements represent management's best judgment based on current facts and
assumptions that management considers reasonable. Forward-looking statements
are frequently characterized by words such as "target", "plan",
"expect", "project", "intend", believe",
"anticipate" and other similar words, or statements that certain
events or conditions "appear to", "may" or
"will" occur. Forward-looking statements are based on the opinions
and estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those projected in
the forward-looking statements. The factors include but are not limited to risks
related to the joint venture operation, actual results of exploration
activities, the inherent risks involved in the exploration and development of
mineral properties, changes in project parameters as plans continue to be
refined, delays in obtaining government approvals, the uncertainties of
project cost overruns or unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the future, the
uncertainties inherent to conducting business in Brazil and the rest of Latin
America, the availability of supplies, unexpected adverse climate conditions,
the reliance on only a few key members of management, as well as those
factors discussed in the section entitled "Risk Factors" in the
Company's most recent Annual Information Form filed with Canadian provincial
securities regulatory authorities and other regulatory filings which are
posted on SEDAR at www.sedar.com. Unless required by law, Colossus undertakes
no obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is cautioned not
to place undue reliance on forward-looking statements.
Contacts:
Colossus Minerals Inc. Ann Candelario VP Investor
Relations (416) 643-7655 acandelario@colossusminerals.com
www.colossusminerals.com
SOURCE:
Colossus Minerals Inc.
mailto:acandelario@colossusminerals.com
http://www.colossusminerals.com
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