Well It looks like Fortunate Sun is off to the races invoking the new TSX Venture Exchange policy of rolling the structure back 8:1 after the shareholders rejected the last proposed share rollback back in March.
(Fortunate Sun or, the "Company") announces the results of its Special General Meeting initially held on Friday, February 8, and subsequently re-convened on Thursday, March 7, 2013.
1) Ordinary Resolution to Change the Name of the Company was approved:
2) Special Resolution to Consolidate the Shares at a ratio of up to 5:1 was defeated:
3) Ordinary Resolution to adopt an Advance Notice Policy was approved.
Fortunate Sun Mining Company Ltd. has passed a director's resolution in accordance with the amended TSX Venture Exchange Policy 5.8, company articles and corporate law, to consolidate the shares of the company at an 8-to-1 ratio. This consolidation will reduce the issued and outstanding shares of the company from 24,977,500 to 3,122,188 shares. The company has made application to the TSX-V for approval of this resolution. The board of directors feels that is imperative to consolidate the shares in order to attract new projects, management and financing.What this new policy says to me is: "Thank you for your money, now fuck off".