|By Marketwired .||
|March 20, 2014 12:39 PM EDT||
LAVAL, CANADA -- (Marketwired) -- 03/20/14 -- Axe Exploration Inc. (TSX VENTURE: AXQ) (the "Corporation") announces the results of its Shareholders Annual Meeting, held today March 20th, 2014, in Laval, Quebec.
At the meeting, the shareholders of the Company voted more than 94% in favour of all resolutions contained within the Information Circular.
1. Election of the Directors of the Company; - Mr. David Mc Donald President, CEO and Director - Ms. Johanne Moreau CFO, Director - Mr. Pascal Ducharme Independent Director - Mr. Claude Lavoie Independent Director 2. Appointment of the Auditors of the Company; -- Election of Raymond Chabot Grant Thornton as auditor of the Company
Axe Exploration Inc. filed an application with the TSX Venture Exchange (the "Exchange") to amend the exercise price of warrants issued in the private placement ended December 28, 2012.
A total of 2,320,000 warrants (the "Warrants") were issued in the private placement. Each of these initially allowed the Warrants bearer to acquire one common share in the share capital of the Company at a price of $0.10 until December 28, 2015.
Axe's Board of Directors approved an amendment to Warrants so that the exercise price is changed to $0.05. The amendment to Warrants enable investors of the Company to exercise the Warrants and thus provide additional funds to the Company since, during the initial period, market conditions did not allow such opportunities. All holders of warrants have consented at to the modification. The amendment of the exercise price of Warrants is conditional upon the approval of the Exchange. None of the Warrants have been exercised on the date hereof.
Neither the 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.
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