Lomiko Metals Inc.: Corporate Matters-Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 3, 2014) - Lomiko Metals Inc. (TSX VENTURE:LMR)(OTCQX:LMRMF)(Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) ("Lomiko" or "the Company) is pleased to announce that on October 30th, 2014 it held its annual and special general meeting of shareholders (the "Meeting"). At total of 10,796,789 common shares (approximately 7.83% of the outstanding common shares) were represented at the Meeting in person or proxy.
- Election of Directors
Each of the following individuals were elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:
| Name | Votes "For" (%) | Votes "Withheld" (%) | ||
| A. Paul Gill | 10,724,781 (99.33 | %) | 72,008 (0.67 | %) |
| Jacqueline Michael | 10,718,417 (99.27 | %) | 78,372 (0.73 | %) |
| Julius Galik | 10,575,667 (97.95 | %) | 221,122 (2.05 | % |
| Brian Gusko | 10,555,631 (97.77 | %) | 241,158 (2.23 | %) |
- Appointment of Auditor
The appointment of Galloway, Botteselle & Company, CGA as the auditor of the Company, to hold office until the next annual meeting of shareholders of the Company, and the authorization of the directors of the Company to fix the auditor's remuneration, was approved by a resolution passed by a vote by ballot, with 10,777,245 (99.82%) total votes cast "FOR" and 19,544 (0.18%) total votes "WITHHELD".
- Ratification of Stock Option Plan
The Stock Option Incentive Plan resolution was approved by a resolution passed by a vote by ballot, with 10,643,627 (98.58%) total votes cast "FOR" and 153,162 (1.42%) total votes cast "AGAINST".
- Shareholders Rights Plan
The Shareholders Rights Plan resolution was approved by a resolution passed by a vote by ballot, with 10,705,443 (99.15%) total votes cast "FOR" and 91,346 (0.85%) total votes cast "AGAINST".
The Shareholder Rights Plan which was adopted will ensure the fair treatment of all the Company's shareholders in the event of an unsolicited take-over bid for the outstanding common shares of the Company. In the event that a take-over bid should occur, the Shareholder Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess it without facing undue pressure or coercion. The Shareholder Rights Plan also provides the board of directors with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. Accordingly, the Shareholder Rights Plan is not designed to prevent take-over bids that treat the Company's shareholders fairly. A copy of the Shareholder Rights Plan Agreement is be available under the Company's profile on SEDAR at www.sedar.com and the Company's website at www.lomiko.com. Reference should be made to the full text of the Shareholders Rights Plan for the details of its provisions. The Shareholder Rights Plan has received TSX Venture Exchange conditional acceptance and the Company will now make the necessary filing for final acceptance.
At the first meeting of the newly constituted Board of Directors held immediately after the Meeting, A. Paul Gill was elected to serve as President and Chief Executive Officer and Jacqueline Michael as Chief Financial Officer until the next annual general meeting of the Company. The Board also elected Julius Galik, Brian Gusko and Jacqueline Michael to serve as the Company's Audit Committee until the next annual general meeting of the Company.
On Behalf of the Board of Lomiko Metals Inc.
Signed: "A. Paul Gill", President and CEO
We seek safe harbor. This press release has been prepared by management. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release