CB Gold Inc. (TSX-V:CBJ) today announced that it has received a letter dated September 25, 2015 from Red Eagle Mining Corporation described as a registered shareholder of 42.52% of the outstanding voting shares of CB Gold and the beneficial holder of an additional 4.23% of the outstanding voting shares of the Company. Red Eagle says it is requisitioning a special meeting at which shareholders will be asked to consider and if thought fit pass a special resolution to remove all of the existing Directors of CB Gold and any other director appointed since the last annual meeting of the shareholders of CB Gold; to consider and if thought fit, to pass an ordinary resolution setting the number of directors of CB Gold at 11 or such other number as may be determined at the meeting; to consider and if thought fit to pass an ordinary resolution approving the appointment of six Red Eagle nominees to the Board.
The Company is considering this correspondence and will provide more information in due course. If the special meeting described in Red Eagle letter proceeds, management will provide shareholders with more information by way of a Management Information Circular in advance of the meeting, which shareholders should read carefully before reaching a decision with regard to their votes. In the meantime, there is no need for shareholders to take any action.
About CB Gold Inc.:
CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines and exploration concessions.
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