TORONTO, ONTARIO -- (Marketwire) -- 03/25/13 -- Portex Minerals Inc. ("Portex" or the "Company") (CNSX: PAX) is pleased to announce the results of the Annual and Special Meeting of shareholders held on March 22, 2013. Portex is a mineral exploration and development company with advanced properties in Spain and Portugal.
Shareholders representing approximately 65% of the shares outstanding cast votes at the meeting and all the resolutions were passed with at least 99% of the votes in favour of the resolutions. Victor Wyprysky was re-elected as a director and was appointed Chairman at the subsequent board meeting. Peter Chodos, Patrick Raleigh, Geoff Stanley and Richard Bishop were also elected at the meeting.
Portex also has decided not to proceed with the previously announced acquisition of Scandinavian Metals Inc. As a result of the difficult financial markets, the Company has decided to focus its activities on its properties in Spain and Portugal in order to move toward production as quickly as possible.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 64,984,300
The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Portex Minerals Inc.
Peter F. Chodos
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