Platinum Group Metals Announces Positive Results of Annual General Meeting of Shareholders
February 23 2018 - 6:11PM
Platinum Group Metals Ltd. (TSX:PTM) (NYSE
American:PLG) (“Platinum Group” or the “Company”) is pleased to
announce the positive results from its Annual General Meeting held
on February 23, 2018 in Vancouver, BC.
The meeting had a turnout of shareholders
representing over 62% of its issued shares eligible to vote at the
meeting. Shareholders strongly supported the appointment of
the Board and the resolutions proposed.
R. Michael Jones, President, CEO and co-founder
of Platinum Group Metals said “We were pleased to see the support
of shareholders. During 2017 the Company undertook some
difficult decisions. The business of the Company is now
focused on the palladium dominant Waterberg Project and we look
forward to 2018 and the advancement of that project”.
The number of directors is fixed at five and on
a show of hands the shareholders at the meeting elected
management’s five nominees for directors. Details of the
proxy voting are as follows:
MOTIONS |
NUMBER OFSHARES |
PERCENTAGE OFVOTES CAST |
|
FOR |
FOR |
WITHHELD/ ABSTAIN |
R. MICHAEL JONES |
67,185,768 |
98.08% |
1.92% |
FRANK R HALLAM |
66,395,996 |
96.92% |
3.08% |
IAIN D C MCLEAN |
67,204,598 |
98.11% |
1.89% |
TIMOTHY D MARLOW |
67,379,465 |
98.36% |
1.64% |
DIANA J WALTERS |
67,436,065 |
98.44% |
1.56% |
At the Annual General Meeting the Board of
Directors was reduced from seven members in the previous year to
five members. Long term past directors Eric Carlson and Barry
Smee are thanked for their many years of dedicated service and
guidance to the Company.
Shareholders also voted 96.31% in favour of
re-appointing PricewaterhouseCoopers LLP as auditors, and to
authorize the Directors to fix the auditor’s remuneration for the
ensuing year.
At a meeting of the Board of Directors following
the shareholders meeting, the current officers of the Company were
ratified for the following year.
For more information on these matters, please
refer to Platinum Group’s information circular, available on SEDAR
(www.sedar.com) or visit our website at
www.platinumgroupmetals.net.
About Platinum Group Metals
Ltd.
Platinum Group is focused on, and is the
operator of, the Waterberg Project, a bulk mineable underground
deposit in northern South Africa. Waterberg was discovered by the
Company. Waterberg has potential to be a low cost dominantly
palladium mine and Impala Platinum recently made a strategic
investment in the Waterberg Project.
On behalf of the Board of
Platinum Group Metals Ltd.
R. Michael Jones President, CEO and Director
For further information
contact: R.
Michael Jones,
President or
Kris Begic, VP, Corporate
Development
Platinum Group Metals Ltd.,
Vancouver
Tel: (604) 899-5450 / Toll Free: (866)
899-5450
www.platinumgroupmetals.net
Disclosure
The Toronto Stock Exchange and the NYSE MKT LLC
have not reviewed and do not accept responsibility for the accuracy
or adequacy of this news release, which has been prepared by
management.
This press release may contain forward-looking
information within the meaning of Canadian securities laws and
forward-looking statements within the meaning of U.S. securities
laws (collectively “forward-looking statements”). Forward-looking
statements are typically identified by words such as: believe,
expect, anticipate, intend, estimate, plans, postulate and similar
expressions, or are those, which, by their nature, refer to future
events. All statements that are not statements of historical fact
are forward-looking statements. Although the Company believes any
forward-looking statements in this press release are reasonable, it
can give no assurance that the expectations and assumptions in such
statements will prove to be correct. The Company cautions investors
that any forward-looking statements by the Company are not
guarantees of future results or performance, and that actual
results may differ materially from those in forward-looking
statements as a result of various factors. The Company
directs readers to the risk factors described in the Company’s Form
20-F annual report, annual information form and other filings with
the Securities and Exchange Commission and Canadian securities
regulators, which may be viewed at www.sec.gov and www.sedar.com,
respectively.
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