Lago Dourado Minerals Ltd.
TSX VENTURE : LDM

Lago Dourado Minerals Ltd.

November 17, 2014 15:00 ET

Lago Dourado Announces Mailing of Management Information Circular for Upcoming Annual and Special Meeting of Shareholders

TORONTO, ONTARIO--(Marketwired - Nov. 17, 2014) - Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company" or "Lago Dourado") announced that it has filed its management information circular, and related proxy materials (collectively, the "Meeting Materials") on SEDAR and that the Meeting Materials have been mailed to shareholders of the Company in connection with its annual and special meeting of shareholders to be held on December 11, 2014 (the "Meeting"). The record date for the Meeting is October 17, 2014.

The Meeting is being held to:

  • appoint MNP LLP, Chartered Professional Accountants as the auditors of the Company for the ensuing year;
  • elect the directors (as named below);
  • approve the existing stock option plan of the Company;
  • seek shareholder approval of a special resolution to amend the articles of the Company to change the name of the Company to such name as the directors may approve (the "Name Change"); and
  • seek shareholder approval of a special resolution to amend the articles of the Company to allow for a consolidation of the Company's issued and outstanding common shares on the basis of one (1) new common share for up to every ten (10) existing common shares, with the final consolidation ratio to be determined by the board of directors of the Company (the "Board"), all as more particularly described in the Meeting Materials (the "Consolidation").

The Company believes that completion of a Consolidation may facilitate the ability of the Company to affect future financings and that shareholders should provide the Company with approval to complete a Consolidation in the future should the Board deem it necessary and in the best interest of the Company. It is not the Company's intention to complete the Consolidation unless the Board determines that it is in the best interests of the Company on a going forward basis. As at November 17, 2014, there were 94,279,828 common shares of the Company issued and outstanding. In the event that the Consolidation is approved and the Company subsequently determines to complete the Consolidation based upon the maximum ratio of 1:10, there would be 9,427,982 common shares outstanding immediately thereafter (calculated based on the number of common shares of the Company currently issued and outstanding).

The Consolidation and the Name Change remain subject to shareholder approval and the approval of the TSX Venture Exchange.

At the Meeting, the following five persons will be nominated for election as directors of the Company: Michele McCarthy, Thomas Obradovich, Jon Douglas, Dean MacEachern and Daniel Noone.

About the Company:

Lago Dourado Minerals Ltd. is a Canadian based exploration company focused on the acquisition and advancement of mineral exploration projects.

For further information about the company, please visit www.lagodourado.com or www.sedar.com.

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur, including the closing of the Transaction. Although Lago Dourado believes that the expectations reflected in the forward looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Lago Dourado's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Lago Dourado does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Neither 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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