The company successfully challenged the validity of certain proxies voted in favor of previous management at the annual meeting of Atlanta Gold in early June.
U.S. Gold owns 13.5% of Atlanta Gold and was able to acquire control of Atlanta with the help of VenturesTrident Limited Partnership, which controls a 12.67% interest.
As a result of the Supreme Court ruling, nominees proposed by U.S. Gold and VenturesTrident have been elected as directors of Atlanta Gold.
The new management team is headed by William Reid, president and acting chief executive officer. Other directors are Paul A. Bailly, Lutz Klingmann, Arthur Fisher, John Stark and David Valpy.
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