BURLINGTON, ON, Oct. 4, 2012 /CNW/ - Silver Shield Resources (TSXV: SSR) ("Silver Shield" or the "Corporation") announced today the results of its 2012 AGM. Ross Pope & Company LLC of Kirkland Lake, Ontario was elected as the auditor of the Corporation. Also approved by shareholders was the slate of directors, resolutions for shares for debt and a proposal to complete a convertible debenture financing up to $3,500,000 CDN. 24.43% of the total shares voted.
Elected directors were Messrs. Tim Towers, Raymond Lashbrook, and Stephen Mlot. The board has also been strengthened by the addition of Mr. John Grounds a noted business executive and a Principal of NRS Funds of Indianapolis Indiana. The addition of Mr. Grounds gives Silver Shield Resources a greater business scope, and an enhanced presence in the United States which will aid the Corporation in gaining market awareness and financing.
Shareholders approved the proposal of offering shares for debt in the amount of 2,990,343 common shares @ $0.05 to extinguish $149,517.19 CDN of debt. The shares for debt will be completed upon debtor and TSX-V approvals. Management would like to thank the good turnout to the AGM and the dialogue with both shareholders and investor parties after the meeting.
About Silver Shield Resources
Silver Shield Resources is determined to become a world class silver producing company. For more information please visit the corporate website at www.silvershieldresources.net
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE: Silver Shield Resources Corp.
For further information:
Mr. Tim D. Towers
President and CEO
Silver Shield Resources Corp.
Tel: (289) 337-6162
E-mail: silvershield@cogeco.net
Mr. Frank Kordy
Corporate Communications Manager
Silver Shield Resources Corp.
Tel: (289) 337-6162
E-mail: frank.kordy@silvershieldresources.net
