Red Hill Energy announced yesterday that during its Annual General Meeting held at the Company’s offices on July 10th, 2009 its shareholders voted over 99% in favour of the Red Hill Energy / Falcon Mining transaction on Red Hill Energy’s Ulaan Ovoo coal project. The transaction remains subject to the approval of the TSX Venture Exchange.
The Ulaan Ovoo / Falcon Mining transaction represents less than 20% of Red Hill Energy’s total tonnes of Mongolian coal. The Company will now focus full attention on advancing and developing its remaining Mongolian coal assets.
Red Hill Energy also continues to review other opportunities for significant growth within Mongolia as well as other regions worldwide.
Source: Market Wire
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