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Stellar Pacific Ventures Inc.: Shareholders Approve Share Consolidation and Change of Name at the Annual and Special Meeting
Published : February 26, 2013
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Keywords :   Gold | Gold Mines | Guinea | Lead | Mali |

MONTREAL, QUEBEC--(Marketwire - Feb. 26, 2013) - STELLAR PACIFIC VENTURES INC. ("Stellar" or "the Company") (News - Market indicators) is pleased to announce that the proposed consolidation of its common shares (the "Shares") and the proposed name change to "Stellar AfricaGold Inc." / "Stellar OrAfrique inc." were approved by special resolution, with respectively 94.79% and 99.14% of the votes in favour, at the Annual and Special Meeting of Shareholders held on February 22, 2013. The Share consolidation and the change of name remain subject to the approval of the TSX Venture Exchange. In addition, management is pleased to report that the four nominees proposed for election − Maurice Giroux, Raymond Cloutier, John Ryan and Jean-Francois Lalonde − were elected to the Board of Directors.

Mr. Maurice Giroux, CEO of Stellar and Qualified Person, indicated that Stellar's new corporate name better reflects its primary mission, which is to target, explore and develop gold deposits in Africa. As for the Share consolidation on a 10-for-1 basis, although it will have no impact on the Company's intrinsic value, it should facilitate its future financing.

"It will make it easier for us to continue developing the significant potential of the Balandougou property, in Guinea, and the Namarana project in Mali, into which a fair amount of cash and energy has already been invested. Stellar is a real venture, the money goes to the right place and exploration is our business. With the results obtained so far, we feel like those projects can possibly develop into gold mines and we wish to continue the work already well engaged. The Balandougou project in Guinea has already received more than $5.0 million in exploration expenditures in the last three years; so far, three extensive gold structures have been discovered and drilled and a dozen more gold occurrences are lined up for follow up. In order to consolidate the gold mining potential of Balandougou, the Company recently mandated AECOM Inc. to proceed with a systematic data compilation and interpretation. The final report and recommendations for further work are expected by the end of March 2013. Furthermore, the Company wishes to increase its land position in West Africa and is currently evaluating and discussing different acquisition targets," the CEO added. 

Stellar will proceed with the Share consolidation on the basis of a consolidation ratio of (10) pre-consolidation Shares for one (1) post-consolidation Share. At this time, there are 130,124,269 Shares issued and outstanding. Pursuant to the consolidation, the Company will have 13,012,427 Shares outstanding. All outstanding options and warrants will be adjusted accordingly. Registered shareholders will be advised of the effective date of such changes and will be provided with instructions for the exchange of certificates. The Company expects its shares to continue trading under the ticker symbol "SPX" on the TSX Venture Exchange.


The BALANDOUGOU project in Guinea is a 49% / 51% joint venture between Stellar Pacific Ventures and partner Ultragold Holding based in Denver Colorado. The Balandougou property is located 100 kilometres north of Siguiri in Upper Guinea at the Mali border. It is comprised of four contiguous exploration licences that cover an extensive area of 606 km2. So far, exploration effort lead to the discovery of three extensive gold structures cumulating more than 2,200 line metres of gold mineralization.

The NAMARANA exploration licence covers an area of 120 km2 and is located in Mali, in the KANGABA circle near the Guinea border, just east of the BALANDOUGOU project. So far, stream sediment geochemistry by bleg method and full airborne magnetic and radiometric coverage as well as rock and soil geochemistry have been performed on the entire property. The Namarana property is currently at drilling stage with promising targets.


Stellar Pacific Ventures (News - Market indicators) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits In Africa. Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.

The Company is currently developing the promising gold potential of the Balandougou property in Guinea, which is at an advanced exploration stage, as well as the Namarana project in Mali. The exploration licences held by Stellar and its partners cover 1,100 km2 located entirely on the West African Birimiam Gold Belt.

Stellar also holds a 10.5% equity interest in TomaGold Corporation Inc., a Canadian mining company active in the exploration of gold properties in Northern Quebec.

The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a Qualified Person as defined in NI 43-101n.


The Company is pleased to inform shareholders that its new website is now on line at

Neither 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.

Maurice Giroux
President and CEO
Stellar Pacific Ventures Inc.
514-866-8096 (FAX)
Companies Mentionned : Canadian Mining | Stellar Pacific | West African |
Data and Statistics for these countries : Guinea | Mali | All
Gold and Silver Prices for these countries : Guinea | Mali | All

Stellar Pacific Ventures Inc.

ISIN : CA85855B1022
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Stellar Pacific is an exploration gold and copper company based in Canada.

Stellar Pacific holds various exploration projects in Canada and in Guinea.

Its main exploration properties are HEVA, MONSTER LAKE and VASSAN in Canada and BALANDOUGOU GUINEA in Guinea.

Stellar Pacific is listed in Canada. Its market capitalisation is CA$ 650 600 as of today (US$ 512 608, € 470 574).

Its stock quote reached its highest recent level on May 04, 2012 at CA$ 0.70, and its lowest recent point on October 10, 2014 at CA$ 0.04.

Stellar Pacific has 13 012 000 shares outstanding.

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Financings of Stellar Pacific Ventures Inc.
7/11/2013AfricaGold Completes Private Placement of $79,600
5/16/2011Closes $ 686,000 Brokered Private Placement
1/10/2008Closes $295,500 private placement
Option Grants of Stellar Pacific Ventures Inc.
2/22/2011Grants 500,000 Stock Options
Nominations of Stellar Pacific Ventures Inc.
6/4/2013Appoints Mr J. Francois Lalonde as COO of the Company
Project news of Stellar Pacific Ventures Inc.
6/15/2011(Monster Lake)Resumes Drilling on Monster Lake, Chibougamau Quebec
6/1/2011(Balandougou Guinea)Drills 47 Meters of 1.64 g/t Gold on Zone B-1, at the SOLOTO...
2/23/2011(Monster Lake)Drills 18.36 g/t Gold Over 1.0 Meters at Monster Lake, Chibo...
5/2/2006acquires key claims next to Typhoon's Fayolle high grade pro...
Corporate news of Stellar Pacific Ventures Inc.
2/10/2015Africagold Inc Acquires 3 Additional Mining Properties Along...
6/19/2013Announces the Renewal of all 3 Strategic Exploration Licence...
4/22/2013AfricaGold Inc. Reaches Prefeasibility Stage on B3 and B1 Zo...
2/26/2013Shareholders Approve Share Consolidation and Change of Name ...
2/12/2013Share Consolidation and Change of Name to be Proposed at Sha...
1/16/2013Hires AECOM to Compile Balandougou Results and to Plan 2013 ...
1/8/2013Samples 43.4 g Au/t at the Kandane Artisan Mine Site on the ...
11/21/2012Reports Positive Core Drill Results on the Balandougou Prope...
10/22/2012Update on Core Drilling Compilation and Delay in Publishing ...
9/26/2012Inc: RC Drilling Extends B1 Zone for 400 Metres and B3 Zone...
7/20/2011Reports Positive Drill Results on Guinea SOLOTOMO's Gold Str...
7/4/2011Shareholders Approve the Sale of the Mineral Properties Loca...
5/27/2011on Sale of Quebec Assets and Shares Distribution
5/10/2011Drills 12 Meters of 2.27 g/t Gold on Zone B-3, at the SOLOTO...
5/2/2011Transfers Its Quebec Mineral Assets and Proceeds With A Shar...
4/19/2011Drills 20 Meters of 1.74 g/t Gold Under Balandougou Solotomo...
4/12/2011Names Mackenzie (Mac) Watson to Advisory Board
3/14/2011Hires First Canadian Capital Corp. as Investor Relations
2/16/2011NDX, RUT slip below support levels
12/27/2007Stelmine Canada Ltd. obtains receipt for final prospectus
2/26/2007Entered in uranium play with claims in Otish Mounts
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