Mandalay Resources Corporation Announces the Results of Its Annual General Meeting of Shareholders
May 25 2022 - 5:32PM
Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:
MND, OTCQB: MNDJF) is pleased to announce the results of its Annual
General Meeting of Shareholders (the “Meeting”) held today
virtually. All the resolutions presented at the Meeting were
approved by the shareholders, with the votes cast by proxy
representing 67.63% of the total shares outstanding as of the
record date.
Election of Directors
The number of directors was fixed at seven
members and each of the seven nominees listed in the Company’s
Management Information Circular dated April 14, 2022, were
re-elected to the Company’s Board of Directors. Abraham Jonker
remains the lead independent director and Bradford Mills continues
as Chair. Results of the votes cast by proxy are set out below.
Resolution |
Votes Cast by Proxy For |
% For |
Votes Cast by Proxy Withheld |
% Withheld |
Bradford A. Mills |
61,552,120 |
99.953 |
29,193 |
0.047 |
Abraham Jonker |
61,551,313 |
99.951 |
30,000 |
0.049 |
Amy Freedman |
61,547,538 |
99.945 |
33,775 |
0.055 |
Dominic Duffy |
61,552,678 |
99.954 |
28,635 |
0.046 |
Julie Galloway |
61,546,238 |
99.943 |
35,075 |
0.057 |
Robert Doyle |
61,548,120 |
99.946 |
33,193 |
0.054 |
Terrell Ackerman |
61,552,080 |
99.953 |
29,233 |
0.047 |
Appointment of Auditors
Ernst & Young LLP was re-appointed as the
auditor of the Company to hold office until the close of the next
Annual Meeting of the Shareholders, or until their successor is
otherwise appointed, and the directors were authorized to fix the
auditor’s remuneration. Results of the votes cast by proxy are set
out below.
Resolution |
Votes Cast by Proxy For |
% For |
Votes Cast by Proxy Withheld |
% Withheld |
Appointment of Auditors |
62,336,857 |
99.992 |
5,284 |
0.008 |
For Further Information:
Dominic DuffyPresident and Chief Executive
Officer
Edison NguyenDirector, Business Valuations and
Investor Relations
Contact:647.260.1566 ext. 1
About Mandalay Resources
Corporation:
Mandalay Resources is a Canadian-based natural
resource company with producing assets in Australia (Costerfield
gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay’s mission is to create shareholder
value through the profitable operation and continuing the regional
exploration program, at both its Costerfield and Björkdal mines.
Currently, the Company’s main objectives are to continue mining the
high-grade Youle vein at Costerfield, bring online the deeper
Shepherd veins, both of which will continue to supply high-grade
ore to the processing plant, and to extend Youle Mineral Reserves.
At Björkdal, the Company will aim to increase production from the
Aurora zone and other higher-grade areas in the coming years, in
order to maximize profit margins from the mine.
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