Thunderbird Resorts Inc.: Shareholder Proposals Approved at Annual
Meeting, Appointment of Officers and Voluntary Delisting From CNSX
PANAMA, REPUBLIC OF PANAMA--(Marketwire - June 03, 2009) -
Thunderbird Resorts Inc. (CNSX: TBI.U)(FRANKFURT: 4TR)(EURONEXT:
TBIRD) announces that on May 29, 2009, at the Company's Annual
General and Special Meeting of Shareholders held in Panama City,
Panama, Jack R. Mitchell, Albert W. Atallah, Salomon Guggenheim, Reto
Heierli, Joaquin Daly, Douglas Vicari and Roberto de Ocampo were
elected as directors for one year terms. Reto Heierli is a new member
of the Board. The newly constituted Board and Management take this
opportunity to thank Jean Duval for his many years of service on the
Board. Grant Thornton UK, LLP, were appointed as auditors for the
ensuing year. Shareholders also approved a resolution allowing the
Company to issue such number of securities or warrants or options in
one or more public or private placements that could result in the
issuance of shares or the exercise of any share purchase warrants or
options where the number of common shares to be beneficially owned by
a "placee, or a group of placees" who intend to vote their shares as
a group in a private placement, is equal to or greater than 20% of
Thunderbird's issued and outstanding share capital, which may change
the effective control of Thunderbird. A resolution permitting the
transaction of other business other than that listed on the agenda
did not meet the supermajority requirement and was not passed.
Election of Officers: Thunderbird is pleased to announce that the
Board of Directors appointed the following persons as officers of the
Company for the ensuing year:
Jack Mitchell President, Chief Executive Officer and Director
Albert Atallah Vice President, General Counsel and Director
Michael Fox Chief Financial Officer
Tino Monaldo Vice President - Corporate Development
Raul Sueiro Vice President - Asian and European Operations
Angel Sueiro Vice President - Design and Construction
Delisting from CNSX: Thunderbird Resorts Inc. ("Thunderbird")
announced today that its Board of Directors has resolved to delist
Thunderbird's common shares from trading on the Canadian National
Stock Exchange ("CNSX"). Thunderbird has requested that the CNSX
initiate the process.
The delisting of Thunderbird's common shares from trading on the CNSX
is expected to become effective June 30, 2009. Up until this date,
Thunderbird's common shares will continue to be traded on the CNSX.
Jack R. Mitchell, President and CEO of Thunderbird, said, "We believe
it is in the best interest of Thunderbird and its shareholders to
consolidate the majority of trading of Thunderbird's common stock on
the Euronext. Therefore, we have made the decision, as a global
company which conducts no operational activities in Canada, to delist
from the CNSX and continue trading on the Euronext. Thunderbird's
management and directors wish to convey their thanks and appreciation
as a listed company on the CNSX to the CNSX and its staff. We have
enjoyed being one of the first companies to list on the CNSX and
being a listed company has allowed us to grow as a public company."
Thunderbird's common shares will continue to be listed on the
Euronext Amsterdam N.V. ("Euronext") under the symbol "TBIRD" and on
the Regulated Unofficial Market of the Frankfurt Stock Exchange under
the symbol "4TR". Shareholders who have been trading Thunderbird's
common shares on the CNSX are encouraged to contact their broker in
Canada to obtain advice on how to execute trades on Euronext.
Thunderbird will continue to make public reports in accordance with
the rules and regulations of Euronext and the applicable securities
laws in the provinces where it is a reporting issuer in Canada.
Form 7 Monthly Progress Report: The Canadian National Stock Exchange
("CNSX") "Form 7 Monthly Progress Report" was filed today. The
Company has historically filed a monthly Form 7 Monthly Progress
Report on the fifth business day of each month for the preceding
month (these filed forms can be found at www.cnsx.ca under trade
symbol TBI.U and on the Company's website at
www.thunderbirdresorts.com). This Monthly Progress Report discloses
the Company's previous month's unaudited revenue, and it also covers
certain changes in management activities, debt and any change in
issued capital.
ABOUT THE COMPANY
We are an international provider of branded casino and hospitality
services, focused on markets in Central America, South America,
Southeast Asia, India and Eastern Europe. Our mission is to "create
extraordinary experiences for our guests". Additional information
about the Group is available on its World Wide Web site at
www.thunderbirdresorts.com.
Cautionary Notice: This release contains certain forward-looking
statements within the meaning of the securities laws and regulations
of various international, federal, and state jurisdictions. All
statements, other than statements of historical fact, included
herein, including without limitation, statements regarding potential
revenue and future plans and objectives of the Company are
forward-looking statements that involve risk and uncertainties. There
can be no assurances that such statements will prove to be accurate
and actual results could differ materially from those anticipated in
such statements. Important factors that could cause actual results to
differ materially from the Company's forward-looking statements
include competitive pressures, unfavorable changes in regulatory
structures, and general risks associated with business, all of which
are disclosed under the heading "Risk Factors" and elsewhere in the
Company's documents filed from time-to-time with the Euronext, the
CNSX and other regulatory authorities.
Contacts:
Thunderbird Resorts Inc.
Kevin McDonald
Investor Relations
(858) 668-2503
kevin.mcdonald@thunderbirdresorts.com
Thunderbird Resorts Inc.
Michael G. Fox
Chief Financial Officer
mfox@thunderbirdresorts.com | info@thunderbirdresorts.com
www.thunderbirdresorts.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.