Results of Macarthur Minerals’ Annual General Meeting
August 30 2019 - 8:00AM
Macarthur Minerals Limited (TSX-V:
MMS) (the “Company” or “Macarthur Minerals”) is pleased to
announce that all resolutions were passed at the Annual General
Meeting of the Company held today in Brisbane, Australia.
Macarthur Minerals’ Executive Chairman, Cameron
McCall commented that, “Macarthur is pleased to report that all
resolutions passed at today’s AGM, and I take this opportunity to
thank our shareholders for their continued support. 2019 has been a
transformative year for the company as it progresses from explorer
to developer of its Lake Giles Iron Ore Project. I urge
shareholders to remain patient and supportive during this
transition stage as we continue to work diligently to develop the
project.”
The results of the Annual General Meeting are
set out in Appendix 1.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V:
MMS, OTCQB: MMSDF)
Macarthur is an iron ore development, gold and
lithium exploration company that is focused on bringing to
production its Western Australia iron ore projects. The Lake Giles
Iron Ore Project includes the 80 million tonne Ularring hematite
resource (approved for development) and the 710 million tonne
Moonshine magnetite resource. Macarthur has prominent (~1,281
square kilometer tenement area) gold, lithium and nickel
exploration interests in Pilbara region of Western Australia. In
addition, Macarthur has lithium brine Claims in the emerging
Railroad Valley region in Nevada, USA.
On behalf of the Board of
Directors,MACARTHUR MINERALS LIMITED
“Cameron McCall”Cameron McCall, Executive
Chairman
Company ContactJoe Phillips,
CEO and DirectorEmail:
jphillips@macarthurminerals.com
Telephone: +61 448899247
Website:
www.macarthurminerals.com
THIS NEWS RELEASE IS NOT FOR
DISTRIBUTION TO UNITED STATES SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Caution Regarding Forward Looking
StatementsCertain of the statements made and information
contained in this press release may constitute forward-looking
information and forward-looking statements (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. The forward-looking statements in this press
release reflect the current expectations, assumptions or beliefs of
the Company based upon information currently available to the
Company. With respect to forward-looking statements contained in
this press release, assumptions have been made regarding, among
other things, the timely receipt of required approvals, the
reliability of information, including historical mineral resource
or mineral reserve estimates, prepared and/or published by third
parties that are referenced in this press release or was otherwise
relied upon by the Company in preparing this press release.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and no
assurance can be given that these expectations will prove to be
correct as actual results or developments may differ materially
from those projected in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include fluctuations in exchange rates
and certain commodity prices, uncertainties related to mineral
title in the project, unforeseen technology changes that results in
a reduction in iron ore demand or substitution by other metals or
materials, the discovery of new large low cost deposits of iron
ore, uncertainty in successfully returning the project into full
operation, and the general level of global economic activity.
Readers are cautioned not to place undue reliance on
forward-looking statements due to the inherent uncertainty thereof.
Such statements relate to future events and expectations and, as
such, involve known and unknown risks and uncertainties. The
forward-looking statements contained in this press release are made
as of the date of this press release and except as may otherwise be
required pursuant to applicable laws, the Company does not assume
any obligation to update or revise these forward-looking
statements, whether as a result of new information, future events
or otherwise.
Appendix 1 - Macarthur
Minerals 2019 Annual General Meeting – Voting Results
|
Number of proxy votes received |
Number of votes cast on a poll |
Resolution |
For |
Against |
Abstain# |
Total* |
For |
Against |
Total |
1 |
Election of Andrew Suckling |
76,368,189 |
14,762,231 |
11,200 |
91,130,420 |
Passed on a show of hands |
84% |
16% |
- |
100% |
2 |
Re-election of Earl Evans |
85,134,256 |
5,986,164 |
21,200 |
91,120,420 |
Passed on a show of hands |
93% |
7% |
- |
100% |
3 |
Re-election of Alan Joseph Phillips |
61,429,814 |
13,713,231 |
15,998,575 |
75,143,045 |
Passed on a show of hands |
82% |
18% |
- |
100% |
4 |
Re-election of Alan Spence Phillips |
76,786,289 |
14,033,731 |
321,600 |
90,820,020 |
Passed on a show of hands |
85% |
15% |
- |
100% |
5 |
Re-election of Cameron McCall |
68,505,948 |
17,074,668 |
5,561,004 |
85,580,616 |
82,594,564 |
17,074,668 |
99,669,232 |
80% |
20% |
- |
100% |
83% |
17% |
100% |
6 |
Appointment of Canadian Auditor |
99,156,884 |
6,059,527 |
10,000 |
105,216,411 |
Passed on a show of hands |
94% |
6% |
- |
100% |
7 |
Approval of Fixed 20% Employee Share Compensation Plan and
Consultant Share Compensation Plan |
75,372,132 |
15,681,488 |
88,000 |
91,053,620 |
Passed on a show of hands |
83% |
17% |
- |
100% |
8 |
Increase Number of Common Shares that may be Issued to Insiders
Under the Share Compensation Plans |
72,750,149 |
18,003,471 |
388,000 |
90,753,620 |
86,838,765 |
18,003,471 |
104,842,236 |
80% |
20% |
- |
100% |
83% |
17% |
100% |
* Percentage figures are based
on total number of shares voted.# Abstains are not counted towards
the total number of shares voted.
A poll was conducted for resolutions 5 and 8 as
required under section 87(b) on the Ontario Securities Act.
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