2022-08-10 | TSXV: BMK | Press release
TORONTO, Aug. 10, 2022 (GLOBE NEWSWIRE) — MacDonald Mines Exploration Ltd. (TSXV: BMK) (“MacDonald Mines” or the “Company”) is pleased to announce the results of its annual meeting of shareholders held on August 9, 2022 (the “Meeting”).
During the Meeting, the shareholders:
- elected Gregory Romain, Stuart Adair, Kevin Tanas, Amanda Fullerton and Steven Butler directors of the Company;
- renewed the appointment of MNP LLP, Chartered Professional Accountants, as auditors of the company;
- approved the continued use of the Company’s stock option plan (the “To plan”) as well as certain amendments to the Plan in accordance with the policies of the TSX Venture Exchange (“TSXV””); and
- approved the consolidation of the outstanding securities of the Company within the limit of one for ten (the “Consolidation”), with the actual exchange ratio to be determined by the Board of Directors.
Effective August 10, 2022, the Company also granted 1,250,000 stock options under the Plan to a director of the Company on a pre-Consolidation basis. Each option is exercisable to purchase one common share of the Company at a price of $0.05 per share for a period of five years from the date of grant. 50% of the options vested immediately upon grant and the remaining 50% will vest on February 9, 2023.
The granting of options and the completion of the combination are subject to the approval of the TSX Venture Exchange. Please see the company’s press release dated July 11, 2022 for more information regarding the consolidation.
About MacDonald Mines Exploration Ltd.
MacDonald Mines is a Canadian-based gold and base metals exploration company focused on exploring its 19,720 ha (197 km2) SPJ Project, 20 km southeast of the prolific Sudbury mining camp in northern Ontario. The company’s aim is to locate what it theorizes to be large gold-bearing systems with high-grade gold surrounding the former producing Scadding gold mine and potential large gold-bearing structures around Alwyn, Glade. , MacLeod and Norstar. The Company is also focusing on the main metal battery systems surrounding Candore and Jerome as part of the SPJ project to power the transition to renewables, particularly nickel, copper and PGE’s. The demand and need for critical battery metals is at an all-time high, and MacDonald Mines believes the SPJ property area has the potential to be part of the solution.
This press release may contain certain “forward-looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied. understood by the forward-looking statements. statements. Any forward-looking statement speaks only as of the date of this press release and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of future or other new information, events or results.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.
To learn more about MacDonald Mines, please visit www.macdonaldmines.com