This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

White Mountain Announces Appointment Of New Directors

Stocks in this article: WMTM

SANTIAGO, Chile, Jan. 6, 2014 (GLOBE NEWSWIRE) -- White Mountain Titanium Corporation ("White Mountain" or the "Company") (OTCQB:WMTM) announces that as previously reported, on December 4, 2013, White Mountain Titanium Corporation (the "Company") entered into a Binding Memorandum of Understanding (the "MOU") dated December 3, 2013, with Grand Agriculture Investment Limited (the "Investor"), a company formed in Hong Kong and controlled by Kin Wong, a shareholder of the Company. The MOU provided that the Board of Directors would be expanded to seven persons and that three Investor group designees would be appointed as directors of the Company following the closing of the First Tranche Units, which occurred on December 13, 2013.

Pursuant to the terms of the MOU, on December 30, 2013, Brian Flower resigned as a director of the Company, the number of directors was increased from five to seven persons, and Kin Wong, Yee Y (Sue) Pei, and Weigang Greg Ye, each of whom was designated by Mr. Wong, were appointed as directors to fill the vacancies created by the resignation and the increase in the number of directors. In addition, Mr. May resigned as Chairman of the Board and Mr. Wong was appointed to fill the position. With his resignation as a director, Mr. Flower was removed from the audit committee. However, he will retain his position as Executive Vice-President of the Company and will remain a director of the Company's subsidiaries. With the foregoing changes, the Board of Directors is now composed of three citizens of the United States, two citizens of England, and two citizens of the People's Republic of China.

The Board of Directors intends to consider filling the vacancy on the Audit Committee at its next meeting.

Non-executive directors receive $1,000 plus expenses for attendance in person at each meeting of the Board of Directors and receive $500 for attendance at such meetings by conference telephone. Also non-executive directors who are members of committees of the Board receive $1,000 plus expenses for attendance in person at each committee meeting and $500 for attendance at committee meetings by conference telephone. In addition, each chairman of a committee receives $1,000 per meeting they chair.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,651.86 +294.99 1.70%
S&P 500 2,048.61 +35.72 1.77%
NASDAQ 4,732.3450 +88.0330 1.90%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs