VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

February 10, 2012 16:56 ET

VMS Announces Results of AGM; Adoption of Shareholder Rights Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or "the Company") is pleased to announce that all resolutions placed before shareholders at its Annual General Meeting held today (the "AGM") were passed. In particular, the following were elected as directors of the Company to hold office for the ensuing year:

Richard Mark
John Roozendaal
Cheryl Messier
Evan Sleeman
Dr. Mark Fedikow
Jay Dea Butterworth
Donald Whalen

The Company also wishes to announce that it received shareholder approval at the AGM to a shareholder rights plan, as adopted by the Company on December 12, 2011 (the "2011 Rights Plan"). The 2011 Rights Plan supersedes and replaces the Company's prior shareholder rights plan which expired as of the AGM.

The 2011 Rights Plan is intended to provide for the fair treatment of shareholders in connection with any take-over bid for the Company. It is designed to provide sufficient time for the board of the Company and its shareholders to consider any unsolicited take-over bid without undue pressure and to give the Company's board time to consider alternatives to maximize shareholder value.

Pursuant to the 2011 Rights Plan, each holder of record of the shares of the Company on the close of business on February 10, 2012, and the holders of any shares issued thereafter, will be issued one right per common share. These rights will trade with the common shares and be represented by the certificates representing the common shares.

The 2011 Rights Plan will remain in effect until the close of business on the day following the Company's Annual General Meeting in 2014.

A copy of the 2011 Rights Plan is available for viewing at www.sedar.com.

The 2011 Rights Plan is similar to shareholder rights plans adopted by numerous other Canadian public corporations. The Company is not aware of any current, pending or threatened take-over bid for the Company.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, President

VMS Ventures Inc.

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.

Contact Information

  • VMS Ventures Inc.
    John Roozendaal
    President
    604-986-2020 or Toll Free: 1-866-816-0118

    VMS Ventures Inc.
    Evan Sleeman
    Director
    604-986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com