FOR IMMEDIATE RELEASE:
Contact: Terry Badger
Director of Communications
210.308.1221
tbadger@usfunds.com
U.S. GLOBAL INTENDS TO ADJOURN ITS SPECIAL SHAREHOLDERS' MEETING
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SAN ANTONIO--January 9, 2007--U.S. Global Investors, Inc. (NASDAQ: GROW) today
announced that it intends to adjourn tomorrow's January 10, 2007 Special Meeting
and defer the conduct of shareholder voting until 9:00 a.m. CST on January 31,
2007, when the meeting will reconvene.
The adjournment is designed to provide additional time to allow U.S. Global
shareholders to cast their votes or submit their proxy. The record date for the
Special Meeting remains November 20, 2006.
Frank Holmes, Chief Executive Officer and Chief Investment Officer of U.S.
Global, commented: "We are pleased with the affirmative response that we have
received to date; however, our requirement is to have a majority quorum of Class
A and Class C shares of common stock and approval of the proposed amendments to
our Articles of Incorporation by the affirmative vote of 66 2/3% of each class
of common stock outstanding and entitled to vote. We believe it to be in the
best interest of the shareholders to allow additional time for shareholders to
cast their vote or submit their proxy."
As previously announced, U.S. Global will convene its Special Meeting of
Shareholders on Wednesday, January 10, 2007, at 9:00 A.M., local time, at U.S.
Global's corporate headquarters in San Antonio, Texas. U.S. Global then intends
to adjourn the meeting and defer voting on shareholder business matters until
9:00 a.m. CST on January 31, 2007, when the meeting will be reconvened at U.S.
Global's corporate headquarters at 7900 Callaghan Road, San Antonio, Texas
78229. The items of business to be considered at the reconvened Special Meeting
are described in U.S. Global's proxy statement to shareholders dated November
27, 2006.
About U.S. Global Investors, Inc.
U.S. Global Investors, Inc. (www.us-global.com) is a registered investment
adviser that focuses on profitable niche markets around the world. Headquartered
in San Antonio, Texas, the company offers financial solutions and provides
transfer agency and other services to U.S. Global Investors Funds and U.S.
Global Accolade Funds.
With an average of $4.5 billion in assets under management in the quarter ended
September 30, 2006, U.S. Global Investors manages 13 no-load mutual funds that
offer a variety of investment
options, from emerging markets to money markets. In general, trends in the
assets under management are the critical drivers of revenue and earnings trends.
This news release includes forward-looking statements concerning the Company.
These may include statements of plans or objectives for future operations,
statements about future economic performance or assumptions or estimates. The
accuracy of these forward-looking statements is subject to a wide range of
business risks and changes in circumstances that are described in our reports
that are filed from time to time with the Securities and Exchange Commission.
Actual results and outcomes often differ from expectations.