Argosy Minerals Limited
ASX : AGY

Argosy Minerals Limited

January 14, 2011 12:50 ET

Argosy Minerals Limited: Redomicile to Australia

LANGLEY, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2011) - The Directors of Argosy Minerals Limited (the "Company or Argosy" formerly Argosy Minerals Inc.) (ASX:AGY) are pleased to announce the Company's redomicile from Canada to Australia. The Company has received notice from ASIC that it has been registered as an Australian company effective from 24 December 2010.

The redomicile, which was approved by shareholders at the Company's annual general meeting held on 27 May 2010, followed a review by management of Argosy's share register and corporate structure and is consistent with the dominant percentage of the issued share capital of Argosy now being held by shareholders with a registered address in Australia.

This review led management to the conclusion that there are commercial benefits in having the Company's holding jurisdiction changed from Canada to Australia. The Directors believe that some of the advantages of the redomicile include the reduction in operational and administrative costs compared to the costs associated with a Canadian incorporated entity and the potential to create a more efficient and effective operating structure which is expected to result in the cost, tax and corporate efficiency of Argosy being enhanced while retaining its existing listing on the ASX.

In addition the Directors believe the redomicile will enhance Argosy's potential for future corporate deals whilst also making it easier for the Company to access investor markets.

ON BEHALF OF THE BOARD

Peter Lloyd, Chief Executive Officer

Contact Information

  • Argosy Minerals Limited
    Cecil Bond
    Director
    (604) 418-5411