VANCOUVER, June 13, 2019 /CNW/ - Copper Mountain
Mining Corporation (TSX: CMMC | ASX:C6C) (the "Company" or
"Copper Mountain") announces results of the Company's annual
meeting of shareholders (the "Meeting") held on June 12, 2019. A total of 78,230,118 common
shares were voted at the Meeting, representing 43.76% of the total
issued and outstanding common shares of the
Company.
The results for the items voted at the Meeting are as
follows:
Number of
Directors
|
Votes
For
|
%
For
|
Votes
Against
|
%
Against
|
Set the number of
directors at eight
|
73,274,750
|
99.70%
|
215,967
|
0.29%
|
Election of
Directors
|
Votes
For
|
%
For
|
Votes
Withheld
|
%
Withheld
|
Bruce
Aunger
|
73,253,559
|
99.67%
|
240,494
|
0.33%
|
Michele
Buchignani
|
73,223,784
|
99.63%
|
270,269
|
0.37%
|
Gilmour
Clausen
|
72,551,267
|
98.72%
|
942,786
|
1.28%
|
Al Cloke
|
73,274,550
|
99.70%
|
219,503
|
0.30%
|
Alistair
Cowden
|
73,258,284
|
99.68%
|
235,750
|
0.32%
|
James
O'Rourke
|
51,288,398
|
69.79%
|
22,205,655
|
30.21%
|
Carl
Renzoni
|
51,277,977
|
69.77%
|
22,216,076
|
30.23%
|
William
Washington
|
73,243,154
|
99.66%
|
250,899
|
0.34%
|
The Company reports shareholders reappointed
PricewaterhouseCoopers LLP as auditors of the Company for the
ensuing year and authorized the directors to fix their
remuneration. The Company's shareholders voted in favour of the
Company's April 2019 Restricted Share
Unit Plan for executives of the Company, for the purpose of the
issuance of common shares as was described in the management
information circular.
|
Votes
For
|
%
For
|
Votes
Against
|
%
Against
|
Appointment of
PricewaterhouseCoopers LLP
|
77,846,133
|
99.57%
|
335,653
|
0.00%
|
April 2019 RSU Plan
for the purpose of the issuance of common shares
|
54,836,372
|
74.61%
|
18,657,681
|
25.39%
|
The Company's shareholders voted against the Company's
April 2019 Deferred Share Unit Plan
("DSU Plan") for the directors of the Company, which gave the
Company the flexibility to satisfy the settlement of deferred share
units ("DSUs") by issuing common shares or cash, as opposed to cash
only. As a result of this vote, the Company's DSU Plan will
only allow for DSUs to be satisfied in cash.
The Company's shareholders also voted against the Company's
non-binding advisory vote on compensation ("Say on Pay").
Although Say on Pay is an advisory vote and the results are
not binding upon the Board, the Board will take into account the
results of the vote, together with shareholder feedback and best
practices in compensation and governance.
|
Votes
For
|
%
For
|
Votes
Against
|
%
Against
|
April 2019 DSU Plan
for the purpose of the issuance of common shares
|
33,821,346
|
46.02%
|
39,672,707
|
53.98%
|
Approval of advisory
vote on compensation
|
33,705,093
|
45.86%
|
39,788,960
|
54.14%
|
About Copper Mountain Mining Corporation
Copper Mountain's flagship asset is the 75% owned Copper
Mountain mine located in southern British
Columbia near the town of Princeton. The Copper Mountain mine currently
produces approximately 90 million pounds of copper equivalent, with
average annual production expected to increase to over 110 million
pounds of copper equivalent in 2020. Copper Mountain also has
the permitted, development-stage Eva Copper Project in Queensland, Australia and an extensive 4,000
km2 highly prospective land package in the Mount Isa
area. Copper Mountain trades on the Toronto Stock Exchange under
the symbol "CMMC" and Australian Stock Exchange under the symbol
"C6C".
Additional information is available on the Company's web page at
www.CuMtn.com.
On behalf of the Board of
COPPER MOUNTAIN MINING CORPORATION
"Gil
Clausen"
Gil Clausen, P.Eng.
Chief Executive Officer
Cautionary Note Regarding Forward-Looking
Statements
This news release may contain forward-looking
statements and forward-looking information (together,
"forward-looking statements") within the meaning of applicable
securities laws. All statements, other than statements of
historical facts, are forward-looking statements. Generally,
forward-looking statements can be identified by the use of
terminology such as "plans", "expects", "estimates", "intends",
"anticipates", "believes" or variations of such words, or
statements that certain actions, events or results "may", "could",
"would", "might", "occur" or "be achieved". Forward-looking
statements involve risks, uncertainties and other factors that
could cause actual results, performance and opportunities to differ
materially from those implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from these forward-looking statements include the
successful exploration of the Company's properties in Canada and Australia, the reliability of the historical
data referenced in this press release and risks set out in Copper
Mountain's public documents, including in each management
discussion and analysis, filed on SEDAR at www.sedar.com.
Although Copper Mountain believes that the information and
assumptions used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed time frames or at all. Except where required by
applicable law, Copper Mountain disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
SOURCE Copper Mountain Mining Corporation