Kincora Copper Ltd. (CVE:KCC) said on Wednesday shareholders at its July 12 meeting elected Jonathan (Sam) Spring, Eric Zurrin, Luke Leslie and Duchintav Khojgor as directors.
The company is advancing a wider review of the board and team, which will be announced in due course, encompassing the previously announced private placement and expectation of resuming exploration activities across an enlarged licence portfolio.
"Shareholder approval has been provided to consolidate the company's share capital, which is a key requirement to facilitate the closing of the non-brokered private placement, the Ibex transaction and Origo loan note conversion," said Sam Spring, Kincora's president and chief executive officer.
"Firm commitments are in place to ensure the financial requirements of the Origo loan note conversion into equity alongside the private placement and the transaction with the Ibex subsidiaries are satisfied. Postshareholder approval, Kincora is now also in a position to recapitalize its balance sheet, streamline its corporate structure and resume certain field season activities as certain Mongolian processes and related approvals continue to progress relating to the Ibex transaction."