Silver Bear Provides Shareholder Meeting Results
TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX:SBR) announces that shareholders have voted in favour of all items of business brought before them at the Company’s Annual General Meeting (the “Meeting”) held today in Moscow, Russia. Detailed results of the voting from the Meeting are set out below.
| Matter Voted On(1) | Votes For | Votes Against | Votes Withheld | |||
| Number | % | Number | % | Number | % | |
| Ordinary Resolution 1 – Receiving the Financial Statements of the Corporation | 550,293,536 | 99.99 | 0 | 0.00 | 40,000 | 0.01 |
| Ordinary Resolution 2 – Appointing Auditors | 554,760,410 | 99.99 | 5,200 | 0.00 | 65,000 | 0.01 |
| Ordinary Resolution 3 – Approving Auditors’ Remuneration | 550,262,356 | 99.99 | 6,200 | 0.00 | 65,000 | 0.01 |
| Ordinary Resolution 4 - Electing Maxim Matveev as a director of the Corporation | 550,292,556 | 99.99 | 41,000 | 0.01 | 0 | 0.00 |
| Ordinary Resolution 5 – Re-electing Dominic Gualtieri as a director of the Corporation | 550,268,556 | 99.99 | 41,000 | 0.01 | 25,000 | 0.00 |
| Ordinary Resolution 6 – Re-electing Graham Hill as a director of the Corporation | 550,292,556 | 99.99 | 41,000 | 0.01 | 0 | 0.00 |
| Ordinary Resolution 7 – Re-electing Alexey Sotskov as a director of the Corporation | 550,267,556 | 99.99 | 41,000 | 0.01 | 25,000 | 0.00 |
| Ordinary Resolution 8 – Re-electing Christopher Westdal as a director of the Corporation | 550,292,556 | 99.99 | 41,000 | 0.01 | 0 | 0.00 |
| Ordinary Resolution 9 – Authorise the allotment of shares of the Corporation | 550,218,156 | 99.98 | 115,400 | 0.02 | 0 | 0.00 |
| Ordinary Resolution 10 – Approving the Facilities Agreement Amendments(2) | 4,510,415 | 97.51 | 115,400 | 2.49 | 0 | 0.00 |
| Special Resolution 11 – Approving the disapplication of the Pre-emptive Rights | 550,596,956 | 99.97 | 146,600 | 0.03 | 0 | 0.00 |
Note:
- Voting on Ordinary Resolutions 1-9 at the Meeting was conducted by a show of hands. The voting results on these matters represent the proxy votes entitled to vote at the Meeting.
- The vote on Ordinary Resolution 10 was a disinterested shareholder vote, as required by the rules of the Toronto Stock Exchange.
In accordance with the policies of the TSX, disinterested shareholders of the Company approved certain amendments to the Company’s existing facilities agreement (being Ordinary Resolution 10), including the payment of interest on a US$20 million term loan facility tranche (“Tranche F”) and the extension of the maturity date of the facilities agreement, other than Tranche F, from September 20, 2020 to March 20, 2022. See the management information circular of the Company dated May 31, 2018 for additional details on the facilities agreement amendments, which is available under the Company’s profile on SEDAR at www.sedar.com.
A total of 554,830,610 ordinary shares were voted in connection with the Meeting, representing approximately 82.76% of the issued and outstanding ordinary shares of the Company eligible to vote at the Meeting. The results of all matters considered at the Meeting are reported in the Report of Voting Results as filed by the Company on SEDAR at www.sedar.com.
About Silver Bear
Silver Bear (TSX:SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km2 that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. The Company was granted a 20-year mining licence for the Vertikalny deposit in September 2013 and filed an updated Feasibility Study in August 2017. Project construction and permitting is advancing with first silver production having commenced in late 2Q 2018. Other information relating to Silver Bear are available on SEDAR at www.sedar.com as well as on the Company’s website at www.silverbearresources.com.
Contact Information:
| Graham Hill President and Chief Executive Officer T: +7 916 731 5673 info@silverbearresources.com Buchanan UK Bobby Morse T: + 44 (0) 20 7466 5000 Anna Michniewicz T: +44(0) 20 7466 5146 | Judith Webster Investor Relations Manager & Corporate Secretary T: +416 453 8818 jwebster@silverbearresources.com |