Atacama Resources International Inc. Reports CEO Relinquishing Series A Preferred Share

Rhea-AI Summary

Atacama Resources International (OTC Pink: ACRL) has announced that CEO Glenn Grant has relinquished his Series A Preferred Share, which was originally granted on February 1, 2019, as an anti-takeover measure. The share was surrendered on July 25, 2024, and Mr. Grant had not utilized its voting power during his tenure. Currently, there are no Series A Preferred Shares outstanding, and the Board of Directors has no immediate plans to issue any further such shares.

The company, which focuses on mineral exploration in Northern Ontario, emphasizes its commitment to transparency and shareholder value. Atacama Resources International holds significant mining claims in the Kirkland Lake area, with potential for exploring various metals and minerals including gold, silver, lithium, graphite, cobalt, and diamonds.

Positive

• Removal of anti-takeover measure potentially increasing shareholder influence
• Commitment to transparency and shareholder value

Negative

• None.

News Market Reaction

+11.43%

1 alert

+11.43% News Effect

On the day this news was published, ACRL gained 11.43%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Orlando, Florida--(Newsfile Corp. - August 6, 2024) - Atacama Resources International (OTC Pink: ACRL) reports that CEO Glenn Grant has relinquished his Series A Preferred Share.

The Series A Preferred Share was originally granted to Mr. Grant on February 1, 2019 as an anti-takeover measure.

Mr. Grant has not made use of the voting power granted by the Series A Preferred Share and relinquished the Series A share on July 25, 2024.

At present, there are no Series A Preferred Shares outstanding and the Board of Directors does not intend to issue any further Series A Preferred Shares at this time.

Atacama Resources International remains committed to maintaining transparency, delivering shareholder value, and advancing its position as an innovative force in mineral exploration.

About Atacama Resources International (www.acrlintl.com)

Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, lithium, graphite, cobalt, and diamonds. Please visit the company's website at www.acrlintl.com for more information.

Forward-Looking Statements

Certain information outlined in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management beliefs, and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise, and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports filed with OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.

For more information, please contact Greg Praver, COO, at gregpraver@acrlintl.com, or Glenn Grant, CEO, at ggrant@acrlintl.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218834

FAQ

What recent change has Atacama Resources International (ACRL) announced regarding its shares?

Atacama Resources International (ACRL) announced that CEO Glenn Grant has relinquished his Series A Preferred Share, which was originally granted as an anti-takeover measure on February 1, 2019.

When did Glenn Grant relinquish the Series A Preferred Share of Atacama Resources International (ACRL)?

Glenn Grant relinquished the Series A Preferred Share of Atacama Resources International (ACRL) on July 25, 2024.

Are there any Series A Preferred Shares currently outstanding for Atacama Resources International (ACRL)?

No, there are currently no Series A Preferred Shares outstanding for Atacama Resources International (ACRL), and the Board of Directors does not intend to issue any further Series A Preferred Shares at this time.

What are the main minerals that Atacama Resources International (ACRL) is exploring in Northern Ontario?

Atacama Resources International (ACRL) is potentially exploring for gold, silver, lithium, graphite, cobalt, and diamonds in the greater Kirkland Lake area of Northern Ontario.