PolyMet Announces Results of Shareholders' Meeting
July 11 2012 - 8:30AM
Marketwired
PolyMet Mining Corp. (TSX:POM)(NYSE MKT:PLM) ("PolyMet" or the
"Company") is pleased to announce that the resolutions presented to
shareholders were passed at the Company's Annual General and
Special Meeting of Shareholders held on July 10, 2012.
The number of directors of the Company was set at eight and
includes re-election of Ian Forrest, Frank Sims, David Dreisinger,
Alan Hodnik, William Murray, Steve Rowland, Joseph Scipioni, and
Michael Sill to the Company's board of directors.
PricewaterhouseCoopers LLP was re-appointed as auditors of the
Company.
Subject to final TSX approval, the 2007 Omnibus Share
Compensation Plan (the "Plan") was amended and restated to (a)
amend the number of common shares reserved for issuance, (b)
increase the maximum term of expiry from seven (7) years to ten
(10) years in respect of which stock options may be granted; and
(c) clarify the definition of "Market Price". The Plan and all
unallocated options or awards entitled to be granted thereunder,
was reapproved. The extension of the expiry date of all stock
options outstanding as at July 10, 2012 to ten (10) years from the
original date of grant was also approved.
The board decided, pending further consideration, to withdraw
the proposal to authorize Preferred Shares; a vote was not held on
this matter.
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a
publicly-traded mine development company that controls 100% of the
NorthMet copper-nickel-precious metals ore body through a long-term
lease and owns 100% of the Erie Plant, a large processing facility
located approximately six miles from the ore body in the
established mining district of the Mesabi Range in northeastern
Minnesota. PolyMet Mining Corp. has completed its Definitive
Feasibility Study and is seeking environmental and operating
permits to enable it to commence production. The NorthMet project
is expected to require approximately one-and-a-quarter million
hours of construction labor and create approximately 360 long-term
jobs, a level of activity that will have a significant multiplier
effect in the local economy.
POLYMET MINING CORP.
Joe Scipioni, CEO
This news release contains certain forward-looking statements
concerning anticipated developments in PolyMet's operations in the
future. Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", "projects",
"plans", and similar expressions, or statements that events,
conditions or results "will", "may", "could", or "should" occur or
be achieved or their negatives or other comparable words. These
forward-looking statements may include statements regarding our
beliefs related to exploration results and budgets, reserve
estimates, mineral resource estimates, work programs, capital
expenditures, actions by government authorities, including changes
in government regulation, the market price of natural resources,
costs, ability to receive environmental and operating permits, job
creation, or other statements that are not a statement of fact.
Forward-looking statements address future events and conditions and
therefore involve inherent known and unknown risks and
uncertainties. Actual results may differ materially from those in
the forward-looking statements due to risks facing PolyMet or due
to actual facts differing from the assumptions underlying its
predictions.
In connection with the forward-looking information contained in
this news release, PolyMet has made numerous assumptions,
regarding, among other things: receiving final TSX approval for the
resolutions passed regarding the Plan, the geological,
metallurgical, engineering, financial and economic advice that
PolyMet has received is reliable, and is based upon practices and
methodologies which are consistent with industry standards. While
PolyMet considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and
contingencies.
PolyMet's forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements
are made, and PolyMet does not assume any obligation to update
forward-looking statements if circumstances or management's
beliefs, expectations and opinions should change.
Specific reference is made to PolyMet's most recent Annual
Report on Form 20-F for the fiscal year ended January 31, 2012 and
in our other filings with Canadian securities authorities and the
U.S. Securities and Exchange Commission, including our Report on
Form 6-K providing information with respect to our operations for
the three months ended April 30, 2012 for a discussion of some of
the risk factors and other considerations underlying
forward-looking statements.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: PolyMet Mining Corp. - Corporate Douglas Newby Chief
Financial Officer +1 (212) 867-1834dnewby@polymetmining.com PolyMet
Mining Corp. - Media LaTisha Gietzen VP Public, Gov't &
Environmental Affairs +1 (218) 225-4417lgietzen@polymetmining.com
www.polymetmining.com
Polymet Mining (TSX:POM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Polymet Mining (TSX:POM)
Historical Stock Chart
From Jul 2023 to Jul 2024