SOURCE: General Metals Corporation

September 01, 2009 07:38 ET

General Metals Amends Annual and Special Meeting Preliminary 14a and Reschedules for Later in September 2009 in Reno, NV

RENO, NV--(Marketwire - September 1, 2009) - General Metals (OTCBB: GNMT) and (FRANKFURT: GMQ) is pleased to announce that it has amended its Preliminary 14a Proxy Statement filed August 3, 2009 and filed it with the SEC today. The record date for shares eligible to vote at the meeting remains August 3, 2009 and the Meeting has been rescheduled for later in September. The Meeting will still take place at the Siena Hotel in Reno, NV. This will also be a Special Meeting dealing with changes in corporate charter more fully discussed in the amended Preliminary 14a Proxy Statement and as follows:

NOTICE IS HEREBY GIVEN that General Metals Corporation (the "Corporation"), a Delaware corporation, will hold an annual and special meeting of stockholders on September __, 2009 at 12:00 noon (local time) at the Siena Hotel, One S. Lake Street, Reno, NV 89505 (the "Meeting"). The Meeting is being held for the following purposes:

1.  to elect a board of four (4) directors;

2.  to ratify the appointment of Mark Bailey & Company, Ltd., Certified
    Public Accountants as the Corporation's independent public accounting
    firm for the year ending April 30, 2010;

3.  an amendment to our Certificate of Incorporation to increase the
    authorized number of shares of our common stock from 220,000,000 shares
    to 600,000,000 shares, par value of $0.001 per share;

4.  an amendment to our Certificate of Incorporation to amend the preferred
    shares to authorize the directors of the Corporation to fix and
    determine the designations, rights, preferences or other variations of
    such class or series within each class of capital stock of the
    Corporation and to issue the shares of stock for such consideration as
    may be fixed by the Board of Directors;

5.  to approve an 11 for 10 forward stock split of our company's authorized
    and issued and outstanding shares of common stock; and

    (collectively, the "Amendments")

6.  to transact such other business as may properly come before the Meeting
    or any adjournment or postponement thereof.

Company President and CEO Steve Parent commented: "We have added the 11 for 10 forward split, which management has determined will directly benefit our existing shareholders who have extended their overwhelming support during these difficult economic times. The Company's cusip number and trading symbol will change on the effective date for the split which will be after the vote is confirmed at the meeting. We have enjoyed a year full of progress and we are on target to achieve our goal of near-term production as permitting and financing is advancing favorably."

A copy of the Company's Amended Preliminary 14a is available at www.gnmtlive.com under Investor Info, SEC filings.

About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District, Nevada. Permitting and Engineering for heap leach production is underway at the Independence Mine. The Company recently sold its 150 sq. km. mining concession for gold, diamonds and base metals in Ghana, West Africa for $1,012,500 in cash and stock and retains a royalty.

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Independence Mine and the Company's ability to arrange financing on acceptable terms to the Company.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward- looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Contact Info:

    Wayne Meyerson
    Investor Relations
    General Metals Corporation
    wayne@gnmtlive.com
    775.583.4636 office
    775.830.6429 cell