Las Vegas, NV, Sept. 3, 2013 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (FLPC), an innovative and diversified mine exploration and development company focused on "Mined in America" strategic industrial minerals, announced that their shareholders voted in favor of the proposed amendments to the Company's articles at the Special Meeting of Stockholders held on August 30, 2013.
First Liberty Power Board Chairman Robert Reynolds, reported that the first amendment, to increase the Authorized Common Shares to 1,080,000,000, was approved with over 98% voting in favor. The second amendment, to allow for the creation of up to 10,000,000 shares of "blank check" preferred shares, was also approved with over 96% in favor.
"Our board of directors is very pleased with the strong and positive showing of First Liberty shareholders in this important change to our Company's structure," Reynolds said. "We had over 41% represented at the meeting, for a total of 194,164,503 shares voted. We are continuing to work on strengthening First Liberty Power by incorporating sound, open and transparent practices, all of which seek to enhance investor confidence. With shareholder approval of these two amendments, management and the board now possess an increased ability to advance and expand the Company's entire operations".
According to First Liberty Power CEO, Don Nicholson, the successful vote bodes well for the Company's future, which includes the mining of stibnite ore on the Fencemaker property and obtaining additional funding for production and milling. "Our mining team has completed revisions to the water management plan and is waiting for engineering and Nevada Department of Environment Protection (NDEP) approval, which we anticipate by early to mid-September." Nicholson, who revisited the mine the day before the shareholder meeting, commented further, "We are in advanced stage discussions with buyers for the stibnite ore, which we will have in place upon the first production of mineral ores. These arrangements will provide the mining team the flexibility to ship and sell a lower antimony content concentrate upon first production, while further efforts are untaken to bring a mill into operation."
FLPC will continue to use Pathways of Progress announcements to inform and update all interested parties of advancements in our mining and financial operations.
ABOUT FIRST LIBERTY POWER CORPORATION (FLPC): First Liberty Power Corporation is an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals. The FLPC corporate philosophy is driven by a dedication to Pathways of Progress (POP). It is a program of best corporate practices designed to rapidly drive the company towards mine production/milling, benefitting FLPC shareholders, investors and mining partners and ensuring safety, environmental integrity, and good governance. Presently, FLPC has interests in four properties: the Fencemaker antimony project in Nevada, the Lida Valley and Smoky Valley lithium brine projects in Nevada, and the San Juan vanadium/uranium project in Utah.
http://www.firstlibertypower.com or http://www.facebook.com/FirstLibertyPower
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 plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital.
Actual results could differ from those projected in any forward-looking statements due to numerous factors, including 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 they 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 SEC.
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First Liberty Power Announces Corporate and Production Developments