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Graphite One shareholders approve Taiga debt conversion

Graphite One Resources Inc. obtained disinterested shareholder approval to convert its existing debt to Taiga Mining Co. Inc. into 13.3 million shares, increasing the latter's stake in the company to 39.5% from 19.22%.

Taiga now holds 75,995,553 shares in Graphite One, according to a March 13 release.

Graphite One also said it secured the green light from its shareholders and the TSX Venture Exchange for its rebrand to Graphite One Inc. as well as a share consolidation.