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Crowflight Announces Name Changed and Provides Business Updates |
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Thursday, 23 June 2011 08:27 |
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Crowflight Minerals Inc. announces that the Company has completed all necessary application processes and obtained regulatory approval to change its name to "CaNickel Mining Limited" from "Crowflight Minerals Inc." and the continuance to the Province of British Columbia from the Province of Ontario.
The Company's shares will commence trading on the Toronto Stock Exchange under the new name on Thursday, June 23, 2011. The trading symbol of the Company will remain as "CML". As to the Company's share consolidation proposal, the Consolidation has been approved by the shareholders of the Company at the annual general and special meeting in May 2011, and the Directors of the Company are hereby authorized and empowered, without further approval or authorization of the shareholders of the Company, to determine the timing and ratio of the Consolidation or to revoke the Consolidation at its sole discretion at any time to their being acted upon. The Directors of the Company has been reviewing the Consolidation proposal, but no decision has been made as of today. The Company also announced that after the restart of mining operation at the Company's Bucko Lake Nickel Mine in Wabowden, Manitoba in April 2011, its first shipment, consisted of approximately 85 tonnes of nickel concentrate, was transported today to Xstrata's smelter in Sudbury, Ontario. The mill is currently processing approximately 600 tonnes of ore per day, and will start to process 1,000 tonnes of ores per day once the mining operation ramping up. The Company expects to produce five million pounds of nickel in 2011, no change to the production guidance previously provided. |
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Last Updated on Thursday, 23 June 2011 08:31 |