11:33 AM EST - Southern Arc Minerals Inc. : Announced the results of its special meeting of shareholders held on July 14, in Vancouver. Eligible disinterested shareholders voted in favour of the Company's participation in a private placement of Japan Gold Corp., a related party of the Company, pursuant to which Southern Arc will invest $5 million and acquire 12,500,000 units of Japan Gold at a price of $0.40 per unit. Each unit will consist of one common share of Japan Gold and one common share purchase warrant. Each warrant will entitle Southern Arc to acquire one additional common share of Japan Gold at a price of $0.40 per share for a period of 5 years. On closing of the Private Placement, Southern Arc will own 53.08% of Japan Gold's issued and outstanding common shares. Southern Arc Minerals Inc.
shares V.SA are trading unchanged at $0.71.
