TORONTO, may 11, 2017 (GLOBE NEWSWIRE) — Mandalay Resources Corporation (“Mandalay” or the “company”) (TSX:MND) may with satisfaction to announce the results from its annual general meeting and extraordinary general meeting of shareholders, which was held today in Toronto, Ontario. All of the meeting proposals to the annual general meeting resolution approved by the shareholders, whereby the number of votes that were cast, according to the power of attorney was 74,27 % of the total number of outstanding votes, on the final date for voting by proxy, which was may 9, 2017.
The election of board members
The number of board members was set at six, and was one of the six persons nominated in the management information circular dated april 11, 2017 (the”circular”) was re-elected to the board of directors. Abraham Jonker remains as the leading independent member of the board, and Bradford Mills remains chairman of the board. The voting was conducted in the form of show of hands. Detailed information on the results of the voting by proxy are set out below.
Appointment of auditors
Ernst & Young LLP was appointed as auditors for the company for the period until the next annual general meeting or, alternatively, to its successor otherwise appointed, and the board of directors was authorised to determine the auditors ‘ remuneration. The voting was conducted in the form of show of hands. Detailed information on the results of the voting by proxy are set out below.
Motion
Votes Cast by Proxy For
% For
Votes Cast by
Proxy Withheld
% Withheld
Appointment of Auditors
334,554,097
99.84
545,566
0.16
Plan for restricted shares
The proposal to approve the company’s plan for restricted shares, and to approve all non-assigned options, and of related rights and claims was upheld. The voting was conducted in the form of show of hands. Detailed information on the results of the voting by proxy are set out below.
Motion
Votes Cast by Proxy For
% For
Votes Cast
Against
% Withheld
Restricted Share Unit Plan
282,789,839
89.75
32,313,438
10.25
The issuance of restricted shares,
The proposal to approve the company’s issuance of 573 339 restricted shares since may 12, 2016 was approved. The voting was conducted in the form of show of hands. Detailed information on the results of the voting by proxy are set out below.
Motion
Votes Cast by Proxy For
% For
Votes Cast
Against
% Withheld
Restricted Share Unit Issuance
282,879,672
89.77
32,223,605
10.23
Stock option plan
The proposal to approve the company’s amended stock option plan and all non-assigned options, and of related rights and claims was upheld. The voting was conducted in the form of show of hands. Detailed information on the results of the voting by proxy are set out below.
Motion
Votes Cast by Proxy For
% For
Votes Cast
Against
% Withheld
Restricted Share Unit Plan
282,752,261
89.73
32,351,016
10.27
ESTMA-REPORT
The company has filed report for the financial year up to and including 31 december 2016 in accordance with the Extractive Sector Transparency Measures Act (act on the insynsåtgärder in the extraction sector). The report is available on the company’s website during the www.mandalayresources.com.
About Mandalay Resources Corporation
Mandalay Resources is a canadian company that works with natural resources and has production assets in Australia, Chile and Sweden, and a development project in Chile. The company is focused on an acquisition strategy and to generate the necessary volume by adding projects in an advanced development stage or already in production in the gold, copper, silver and antimony in Australia, America and Europe to create short-term cash flow and value for shareholders.
For more information:
Mark Sander
President and Chief Executive Officer
Greg DiTomaso
Director of Investor Relations
Contact:
647.260.1566
