Solid Gold Resources’ common shares are scheduled to be reinstated to trading on the TSX Venture Exchange effective Aug. 6.
Andrew Lindzon has been appointed to the board of directors to fill one of the vacancies left by the resignations of Ronald Goldsack and Gary Schellenberg from the board of directors. The company currently has three directors (Robbie Grossman, Andre Tanguay and Andrew Lindzon). Pursuant to the policies of the Exchange, Solid Gold is required to have at least two independent directors, as well as an audit committee comprised of at least three directors, the majority of whom are not officers, employees or control persons of Solid Gold.
As of the date hereof, Solid Gold has only one independent director (Andrew Lindzon) and an audit committee comprised of only two directors (Andre Tanguay and Andrew Lindzon), one of whom (Andre Tanguay) is an officer of Solid Gold. The Exchange has given Solid Gold until Oct. 28 to bring itself into compliance with these policies.
The proposed private placement and shares for debt transactions announced by Solid Gold on Nov. 19, 2012 are not proceeding.
