Prophecy Coal Announces Results of AGM
June 19 2014 - 06:47PM
Marketwired
Prophecy Coal Announces Results of AGM
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 19, 2014) -
Prophecy Coal Corp. ("Prophecy" or the "Company")
(TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to announce that
all proposed resolutions were approved at the Company's Annual
General Meeting of shareholders held on June 19, 2014 in Vancouver,
British Columbia (the "Meeting"). The number of directors was set
at five and all director nominees, as listed in the Management
Information Circular dated May 1, 2014 (the "Information
Circular"), were elected as directors of the Company at the Meeting
to serve until the next annual general meeting. According to the
proxies received and voted at the Meeting, the results were as
follows:
Director |
Votes FOR(1)(2) |
|
John
Lee |
84.22 |
% |
Greg
Hall |
81.80 |
% |
Harald Batista |
85.34 |
% |
Chuluunbaatar Baz |
85.20 |
% |
Masa
Igata |
85.20 |
% |
Notes:
- There were 15,086,068 non-votes reported by the Scrutineer
of the Meeting in respect of the above motion.
- The percentages reported in this news release are
calculated on the votes cast in person and by proxy at the Meeting
which total 28,360,402 with respect to the above motion.
Davidson & Company LLP, Chartered Accountants have been
appointed as auditors of the Company for the ensuing year and the
directors have been authorized to fix their remuneration.
Ordinary resolutions of the disinterested shareholders of the
Company were approved with respect to the: (i) adoption of a
Share-Based Compensation Plan; (ii) the issuance of up to 2,541,065
debt settlement units to some of the Company's directors, officers,
employees and consultants at a price of $0.075 per debt settlement
unit; and (iii) the re-pricing of 3,250,000 incentive stock options
exercisable at $0.065 granted to directors and officers of the
Company, as previously announced by the Company on May 2, 2014.
An ordinary resolution of shareholders of the Company was
approved with respect to amendments to the Articles of the Company
to add advance notice provisions (the "Advance Notice
Provisions").
A copy of the Company's amended Articles of incorporation
containing the Advance Notice Provisions is available under the
Company's profile on SEDAR at www.sedar.com and for viewing by
shareholders at the registered and records office of the Company
during regular business hours Monday through Friday.
Voting results for all resolutions noted above are reported in
the Report on Voting Results as filed on SEDAR on June 19,
2014.
About Prophecy Coal
Prophecy Coal Corp. is a
Canadian company listed on the Toronto Stock Exchange engaged in
developing energy projects in Mongolia. Further information on
Prophecy Coal can be found at www.prophecycoal.com.
PROPHECY COAL CORP.
ON BEHALF OF THE BOARD
"JOHN LEE"
Executive Chairman
Prophecy Coal Corp.Mirza RahimaniInvestor
Relations+1.604.563.0699 or
+1.888.513.6286investorrelations@prophecycoal.comwww.prophecycoal.com