New York, New York 7/2/2007 11:08:32 PM
Speak with other shareholders about: (OTCBB: GNLM), (OTC: AWRCF), (OTC: MLTO), and (OTC: FFTIQ) .
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GENERAL METALS CORPORATION (OTCBB: GNLM)
General Metals Corporation closed at $.226 Friday, trading 120,701 shares.
Company News- July 2, 2007: General Metals Annual Meeting Receives Over 75% Votes in Favor of Board of Directors, Independent Auditor and 11:10 Forward Split
General Metals Corporation (the "Company") (OTCBB: GNLM) (Frankfurt: GMQ) The Company announced that it received certified proxy votes from over 75% of the 76,191,229 issued and outstanding shares at its Annual and Special Meeting held at its Reno, NV office at 1:00PM on Friday, June 29, 2007. Of the 58,421,841 shares voted, 58,293,700 voted in favor of the Board of Directors, with 128,141 voting against. For the Independent auditors, 58,222,445 voted in favor, 89,596 against and 9,800 abstained. For the 11:10 forward split, 57,795,962 voted in favor, 490,889 voted against and 35,000 abstained.
The result is that the Company's Board of Directors and the Independent Auditor were reelected and will serve for another year. The proposed 11:10 forward split was also approved, so all shareholders of record on June 29, 2007 will participate. The effective date of the split and change of security will be announced as soon as it is received from the NASD, once a new cusip number and trading symbol are received.
All 5 Directors were at the meeting and held The Annual Board meeting just prior to the Annual Meeting to give effect to the votes and create resolutions to implement the actions dictated by the votes received. There were 2 new mining projects presented at the Board Meeting that are being studied for future disposition. The Directors also visited the Independence Mine site on Saturday to confirm Phase 1 drill pad locations, the required reclamation bond and inspect recently proposed expansion opportunities.
Steve Parent, General Metals President and CEO, comments: "We are pleased at the turnout for voting, which represents a high level of interest in our Company from our shareholders and we are also pleased that they have placed their confidence in our leadership to continue to build our Company. We have a dynamic development plan that will take shape over the balance of the summer and fall."
Dan Forbush, CPA, MBA and the Company's CFO, said: "We are committed to producing both proven and probable reserves and near term cash flow through production in our proposed 5-6 million ton cyanide heap leach operation. Our Phase 1 drilling program is set to commence in the next couple of weeks and should advance our commitment to proven and probable reserves at the Independence Mine and set the stage for the production mentioned above. Apparently, shareholders who attended Friday's meeting found our presentations and discussions of interest because we have already been approached about future finance participation."
About General Metals Corporation (OTCBB: GNLM)
General Metals Corporation engages in the acquisition and exploration of base and precious metals properties. It focuses on gold and silver mining. The company has a 100% undivided leasehold interest in the Wilson Independence Gold ' Silver Mine (Independence Mine), situated in the Battle Mountain Mining District, Lander County, Nevada. The Independence mine is predominately a silver mine, which consists of 14 whole and fractional mining claims encompassing 240 acres. General Metals Corporation also focuses on acquiring mineral rights and mining opportunities in Ghana, West Africa. The company was incorporated in 1988 and is headquartered in Reno, Nevada. More information about the company can be found at: www.generalmetalscorporation.com
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ASIAN PACIFIC WIRE & CABLE CORPORATION (OTC: AWRCF)
Asia Pacific Wire & Cable Corporation Limited closed at $5.00 Friday, up 41%, trading 52,530 shares.
Company News- June 29, 2007: Asia Pacific Wire & Cable Announces the Settlement of All Shareholder Disputes - New Investor Becomes 20% Shareholder
Asia Pacific Wire & Cable Corporation Limited (the "Company") announced that it entered into a comprehensive settlement and release agreement with Sino-JP Fund Co., Ltd. ("Sino-JP"), which dismissed and released all claims between the parties and which will put an end to all related litigation. The 55% majority shareholder of the Company, Pacific Electric Wire and Cable Corporation ("PEWC") also entered into a similar settlement and release agreement with Sino-JP that will terminate all disputes and litigation between those parties.
SOF Investments, L.P. ("SOF"), a Delaware limited partnership controlled by MSD Capital, L.P., acquired the 2,766,154 shares of the Company previously held by Sino-JP and entered into a shareholders' agreement with the Company and PEWC. The shares acquired by SOF constitute 20% of the issued and outstanding shares of the Company.
As part of the transaction, three Directors designated by Sino-JP tendered their resignations; the Board appointed Mr. David Sun and Mr. Andy Cheng to fill two of those vacancies. At a Directors' meeting, the Chairman noted the benefits accruing to the Company from this series of transactions, including that it allows the Company and its management to focus fully on developing the Company's business and the enhancement of shareholder value. The Company intends to make plans for a shareholders meeting as soon as practicable and to seek shareholder approval to engage auditors to undertake audits of past fiscal years for which audited financial statements are not available.
About Asia Pacific Wire & Cable Corporation Limited (OTC: AWRCF)
Asia Pacific Wire & Cable Corporation is a leading manufacturer of wire and cable products for the telecommunications and power industries in selected markets in the Asia Pacific Region.
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MEDIRECT LATINO INC. (OTC: MLTO)
MEDirect Latino Inc. closed at $1.20 Friday,up 33.3%, trading 129,348 shares.
Company News- June 29, 2007: MEDirect Latino Inc. Announces Board Changes
MEDirect Latino Inc., the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, announced changes to the board of directors.
Mr. Ruben Jose King-Shaw Jr. has resigned as Chairman and member of the Board of Directors effective immediately. Mr. Robert Webb, an independent director of MEDirect Latino, has been appointed the new Chairman to fill the vacancy created by Mr. King-Shaw's resignation. In announcing the resignation MEDirect Latino's new board Chairman Mr. Robert Webb stated, "On behalf of MEDirect Latino, I would like to express my appreciation to Mr. Ruben King-Shaw, Jr. for his guidance and board leadership."
About MEDirect Latino Inc. (OTC: MLTO)
MEDirect Latino, Inc. (www.medirectlatino.org) is the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community. MEDirect Latino is rapidly growing and uniquely positioned to service the Hispanic community in the United States and Puerto Rico. MEDirect is the only company currently positioned to serve the U.S. Hispanic healthcare market as a direct-to-consumer Medicare provider on an authentically national level. Type II diabetes was targeted because of its unique status within the Medicare reimbursement regime and due to its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These and other conditions represent considerable future market potential, MEDirect will scale its model by leveraging its existing client base and infrastructure in introducing new products and services to existing customers as they are identified.
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FRANKFORT TOWER INDUSTRIES, INC. (OTC: FFTIQ)
Frankfort Tower Industries, Inc. closed at $.058 Friday, up 286.67%, trading 1,465,529 shares.
Company News- June 29, 2007: Frankfort Towers Industries, Inc. Files Form 8-K, Current Report:
Frankfort Tower Industries, Inc., a Delaware corporation (f/k/a ROHN Industries, Inc.) (the "Company"), issued a press release on June 29, 2007, entitled "Frankfort Tower Industries, Inc. Obtains Favorable Oral Ruling On Damages In Court Battle Over Termination Of Asset Purchase Agreement."
About Frankfort Tower Industries, Inc. (OTC: FFTIQ)
Frankfort Tower Industries, Inc. was formerly known as ROHN Industries, Inc., which operated as a manufacturer and installer of telecommunications infrastructure equipment for the wireless industry. Its products were used in cellular, PCS, radio, and television broadcast markets. Subsequent to the filing of voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code, ROHN changed its name to Frankfort Tower Industries, Inc. in December 2003, which sold substantially all of its operating assets to Radian Communication Services Corporation in February 2004. Frankfort was founded in 1918 and is based in Frankfort, Indiana. On September 16, 2003, ROHN Industries, Inc filed a voluntary petition for reorganization under Chapter 11 of the United States Bankruptcy Court for the Southern District of Indiana. The plan was later approved as Chapter 11 liquidation on November 23, 2004.
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