Rio Grande Announces Result of Shareholder Meeting
Rio Grande Mining Corp.
Suite 1128, 789 West Pender Street Vancouver, BC, V6C 1H5 Tel: (604) 669-9330 Fax: (604) 669-9335
FOR IMMEDIATE RELEASE April 30, 2013
RIO GRANDE ANNOUNCES RESULT OF SHAREHOLDER MEETING
Vancouver, BC, April 30, 2013: Rio Grande Mining Corp. (RGV - TSX-V) (the “Company”) announces that all resolutions tabled at its Annual General and Special Meeting held April 29, 2013 (the “Meeting”) were passed, including a special resolution approving an up to seven old for one new common share consolidation. Management will now seek the acceptance of the TSX Venture Exchange to the share consolidation. There are currently 37,966,836 common shares issued and outstanding, and if the proposed consolidation of seven old for one new share is accepted by the Exchange, there will be approximately 5,423,833 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices of outstanding stock options and warrants will be adjusted accordingly. The Company will not be changing its name in conjunction with the consolidation.
Also at the Meeting, John Bevilacqua, Robert Findlay, Dusan Berka and Paul Chung were all reelected to their positions as directors. Shareholders also approved the adoption of a 2013 10% rolling stock option plan.
At a directors’ meeting held directly after the Meeting, the following officers were appointed:
John Bevilacqua – President and Chief Executive Officer Dusan Berka – Chief Financial Officer Carrie Cesarone – Secretary
On behalf of the Board of Directors,
John Bevilacqua President & CEO Rio Grande Mining Corp.
604 669 9330
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