TORONTO, ONTARIO--(Marketwire - Nov. 16, 2012) - Brionor Resources Inc. ("Brionor" or the "Company") (News - Market indicators) announces the mailing to its shareholders of the Information Circular prepared in connection with the Annual and Special Meeting of Shareholders to be held in Toronto on December 12, 2012 (the "Meeting"). One of the purposes of the Meeting is to obtain shareholder approval in connection with the Corporation's previously announced transaction with Xmet Inc. ("Xmet") relating to the sale of Brionor's 100% interest in the Pitt Gold Project to Xmet (see the Corporation's press release dated October 1st, 2012 for more information on the transaction).
At the Meeting, the Corporation will also be soliciting the approval of its shareholders in connection with an amendment to the Corporation's stock option plan (the "Plan") approved by the Board of Directors prior to the mailing of the Information Circular. Under the current Plan, 3,581,246 common shares are reserved for issuance following the exercise of previously granted stock options. The amendment proposes to convert the Plan into a 10% rolling stock option plan.
A copy of the Corporation's Information Circular and of the amended and restated asset purchase agreement between the Corporation and Xmet will be filed shortly on SEDAR (www.sedar.com).
Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec.