Yonge Street Capital Corp.

January 03, 2007 16:40 ET

Yonge Street Capital Corp.: Corporate Update- Annual and Special Meeting of Shareholders

TORONTO, ONTARIO--(CCNMatthews - Jan. 3, 2007) - Yonge Street Capital Corp. (TSX VENTURE:YSC.P) ("Yonge Street"), a capital pool company, announces the results of its Annual and Special Meeting of Shareholders held December 29, 2006.

Item Voted Upon Voting Result
1. Election of Directors The board of directors was fixed at five (5)
directors until changed by the directors by
resolution and the five (5) nominees proposed by
management, Gerald Ruth, Terry Good, John M.
Delf, Michael Ramage, and Greg Edwards, were
re-elected as the board of directors of Yonge
Street by majority vote of the shareholders on a
show of hands.
2. Appointment of Auditor Davidson & Company LLP, Chartered Accountants
were re-appointed as Yonge Street's auditors and
the directors were authorized to determine their
remuneration by majority vote of the
shareholders on a show of hands.
3. Confirm Stock Approval of Yonge Street's Stock Option Plan as
Option Plan described in the management information circular
was confirmed by majority vote of the
shareholders on a show of hands.

Yonge Street is a corporation existing under the provisions of the Canada Business Corporations Act and is a reporting issuer in the provinces of Ontario, Manitoba, Alberta and British Columbia. Yonge Street currently has 3,028,750 issued common shares. In addition, there are outstanding 302,875 stock options exercisable at $0.20 per share that have been granted to Yonge Street's directors and officers, and an agent's option to purchase 102,875 common shares at an exercise price of $0.20 per share granted to the agents on Yonge Street's initial public offering.

Investors are cautioned that trading in the securities of a capital pool company should be considered highly speculative.

Further information concerning Yonge Street can be found in the prospectus of Yonge Street dated March 27, 2006 and at www.sedar.com.

The TSX Venture Exchange has not approved or disapproved the contents of this news release.

Contact Information

  • Yonge Street Capital Corp.
    Gerald Ruth
    President, CEO and Director
    (416) 899-3304