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September 2, 2009. Vancouver,
BC -- Pacific North West Capital Corp. (PFN) (TSX: PFN; OTCBB:
PAWEF; Frankfurt: P7J.F) announces that 41.30% of the
61,858,008 common shares issued and outstanding were voted at
the Company's recently completed Annual General and Special
Meeting held on Wednesday August 26, 2009. Of the 41.30% common
shares voted by the shareholders of PFN, the following results
were obtained:
Votes received by the shareholders of the Company were in excess
of 97% in favour to set the number of directors at five and in
excess of 93.50% to appoint Harry Barr, Linda Holmes, Jordan
Point, Dennis Hop and John Londry as directors for the ensuing
year.
James Stafford, Inc., Chartered Accountants were re-appointed
the auditors of the Company for the ensuing year, and the
directors were authorized to fix their remuneration by votes
received in excess of 98%.
The Company was authorized to amend the exercise price and terms
to existing stock options as outlined in the Company's
information circular dated July 28, 2009 by receiving
disinterested shareholder votes in excess of 92%.
The Company was authorized to proceed with the sale of the Nixon
Fork Gold Project as outlined in the information circular by
receiving disinterested shareholder votes in excess of 98%.
The Company was authorized to invest funds to purchase
securities of resource companies that, in management's opinion,
are currently undervalued as further described in the Company's
information circular by receiving shareholder votes in excess of
90%.
Management of Pacific North West Capital Corp. would like to
thank the shareholders for their continued support.
Management will continue to focus on expanding our platinum
group metals division, but due to the unprecedented
opportunities in the current market, we are also looking at
the acquisition of key under-valued advanced stage projects
outside of the our traditional PGM objectives to increase
shareholder value.
About Pacific North West Capital Corp:
Pacific North West Capital Corp. (TSX: PFN; OTCBB: PAWEF; Frankfurt: P7J.F) is a mineral exploration company focused on Platinum Group Metals (PGM), precious and base metals. Management's corporate philosophy is to be a Project Generator, Explorer and Project Operator with the objective of option/joint venturing projects with major and junior mining companies through to production. To that end, Pacific North West Capital's current option/joint ventures agreements are with Anglo Platinum, First Nickel, Kinbauri Gold and Fire River Gold. Pacific North West Capital Corp. is well funded with an experienced management team and the ability to take advantage of the tremendous opportunities that are available in the mining sector today. Our focus will be to acquire advanced stage precious metals projects, continue to expand our PGM and base metals division and to look for special situations and under-funded projects in the resource sector.
Pacific North West Capital Corp. has approximately $4.6 million in working capital and securities. |
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On behalf
of the Board of Directors
"Harry Barr"
Harry Barr, President & CEO
For further
information, please contact our Investor Relations Department at
Toll Free 1-800-667-1870
The Toronto Stock Exchange have not reviewed and does
not accept
responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking
Statements" within the meaning of Section 21E of the United
States Securities Exchange Act of 1934, as amended. All
statements, other than statements of historical fact, included
herein are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such
statements will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual
results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time
with The Toronto Stock Exchange, British Columbia Securities
Commission and the United States Securities & Exchange
Commission. Not to be construed as an offer to buy or sell securities of this company.
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