Pure Nickel Inc. Shareholders Approve Amalgamation and Reverse Take Over Transaction with Nevada Star Resource Corp.admin
Pure Nickel Inc. (“Pure Nickel”) is pleased to announce that it has received unanimous shareholder approval in connection with the special resolution regarding the Reverse Take Over (“RTO”) transaction with Nevada Star Resource Corp. (“Nevada Star”) and the amalgamation of Pure Nickel and Nevada Star.
At the special meeting held in Toronto on February 20, 2007, shareholders of Pure Nickel approved the terms of the arm’s length formal amalgamation agreement and the reverse takeover transaction between Pure Nickel and Nevada Star, pursuant to which the two companies have agreed to amalgamate to form a new company to be called Pure Nickel Inc.
Nevada Star Resource Corp. (“Nevada Star”) has called a Special Meeting of shareholders to be held in Bellevue, Washington on March 27, 2007. Shareholders will be asked to vote on: (i) an ordinary resolution approving the issuance of common shares of Nevada Star to the shareholders of Pure Nickel pursuant to the amalgamation of Nevada Star and Pure Nickel (the “Amalgamation”), (ii) a special resolution approving a name change of the Company from “Nevada Star Resource Corp.” to “Pure Nickel Inc.”, and (iii) a special resolution approving the post-Amalgamation consolidation of the Company’s common shares on the basis of one (1) new common share for every five (5) existing common shares of the Company. Shareholders of record as of the close of business on February 23, 2007 are entitled to vote at the Special Meeting.
Upon completion of the Amalgamation, the combined company will continue its aggressive $8 million exploration program on its three advanced stage North American nickel properties.
About Pure Nickel:
Pure Nickel is a private Canadian company engaged in the exploration and development of advanced nickel sulphide exploration projects primarily in Canada. For more information visit www.purenickel.com.
About Nevada Star:
Nevada Star Resource Corp. is a mineral exploration company that uses advanced technology to search for metals that are in high demand world-wide. For more information visit www.nevadastar.com.
Contacts: Pure Nickel Inc. J. Jay Jaski Chairman & CEO (416) 644-0066 (416) 644-0069 (FAX)