Results of Macarthur Minerals' Annual General Meeting
VANCOUVER, British Columbia, Aug.31, 2017(GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V:MMS) (the "Company" or "Macarthur Minerals") is pleased to announce that all resolutions were passed by a poll at the Annual General Meeting of the Company held today in Australia. 82-92% of shareholders voting, voted in support of all resolutions.
The results of the Annual General Meeting are set out in Appendix 1.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V:MMS)
Macarthur Minerals Limited is an exploration and development company that is focused on identifying and developing high grade lithium, with significant lithium exploration interest in Australia and Nevada. In addition, Macarthur Minerals has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
"Cameron McCall"
Cameron McCall, Chairman
| Company Contact: David Taplin, President, CEO and Director dtaplin@macarthurminerals.com Tel: +61 407470044 www.macarthurminerals.com |
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
Appendix 1- Macarthur Minerals 2017 Annual General Meeting - Voting Results
| Number of proxy votes received | Number of votes cast on a poll | |||||||||||||
| Resolution | For | Against | Abstain# | Total* | For | Against | Total | |||||||
| 1 | Re-election of David Lenigas | 56,224,735 | 9,524,253 | 85,000 | 65,748,988 | 56,226,735 | 9,524,253 | 65,750,988 | ||||||
| 85.51 | % | 14.49 | % | - | 100.00 | % | 85.51 | % | 14.49 | % | 100.00 | % | ||
| 2 | Re-election of Alan Phillips | 58,448,735 | 7,300,253 | 85,000 | 65,748,988 | 58,450,735 | 7,300,253 | 65,750,988 | ||||||
| 88.90 | % | 11.10 | % | - | 100.00 | % | 88.90 | % | 11.10 | % | 100.00 | % | ||
| 3 | Re-election of Cameron McCall | 57,767,061 | 7,981,927 | 85,000 | 65,748,988 | 57,769,061 | 7,981,927 | 65,750,988 | ||||||
| 87.86 | % | 12.14 | % | - | 100.00 | % | 87.86 | % | 12.14 | % | 100.00 | % | ||
| 4 | Re-election of David Taplin | 55,716,835 | 10,032,153 | 85,000 | 65,748,988 | 55,718,835 | 10,032,153 | 65,750,988 | ||||||
| 84.74 | % | 15.26 | % | - | 100.00 | % | 84.74 | % | 15.26 | % | 100.00 | % | ||
| 5 | Appointment of Canadian Auditors | 64,844,029 | 5,394,537 | - | 70,238,566 | 64,846,029 | 5,394,537 | 70,240,566 | ||||||
| 92.32 | % | 7.68 | % | - | 100.00 | % | 92.32 | % | 7.68 | % | 100.00 | % | ||
| 6 | Approval of Fixed 20% Employee Share Compensation Plan and Consultant Share Compensation Plan | 53,861,685 | 11,956,303 | 16,000 | 65,817,988 | 53,863,685 | 11,956,303 | 65,819,988 | ||||||
| 81.83 | % | 18.17 | % | - | 100.00 | % | 81.83 | % | 18.17 | % | 100.00 | % | ||
| 7 | Increase Number of Common Shares that may be Issued to Insiders Under the Share Compensation Plans | 52,360,705 | 11,473,283 | 2,000,000 | 63,833,988 | 52,361,705 | 11,473,283 | 63,834,988 | ||||||
| 82.03 | % | 17.97 | % | - | 100.00 | % | 82.03 | % | 17.97 | % | 100.00 | % | ||
* Percentage figures are based on total number of shares voted.
# Abstains are not counted towards the total number of shares voted.
A poll was conducted for all resolutions as required under section 87(b) on the Ontario Securities Act.