Vancouver, B.C. - July 8, 2009 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX) reports the results of its 2009 Annual General and Special Meeting. At the meeting all ordinary resolutions placed before the meeting were passed. Shareholders re-elected John S. Brock, C. Douglas Proctor, R.E. Gordon Davis and Sargent Berner as directors of the Company for the ensuing year. PricewaterhouseCoopers LLP, Chartered Accountants were also reappointed as auditors of the Company and the Company's rolling stock option plan was re-approved.
A special resolution authorizing the approval of a proposed consolidation of the issued common shares of Pacific Ridge and a change in name of the Company was also passed. At a subsequent meeting of the Pacific Ridge Board of Directors, approval was given for consolidation of the issued common shares of the Company on a 1 new share for 3 old shares basis. The name of the Company will remain the same. Approval of the consolidation was required to facilitate future financing of the Company as well as the effecting of a property option agreement with a third party, the details of which will be announced within the next few days.
"John S. Brock"
John S. Brock
For further information, contact:
Pacific Ridge Exploration Ltd.
John S. Brock
Tel: (604) 604.641.2759
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.