Results of Macarthur Minerals’ Annual General Meeting
VANCOUVER, Aug. 31, 2018 - 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 that all resolutions passed at today’s AGM and I take this opportunity to thank our shareholders for their support. In 2018 we have been actively progressing the geological investigation of our gold, lithium and nickel projects which will add real value for our shareholders in the future.”
The results of the Annual General Meeting are set out in Appendix 1.
ABOUT MACARTHUR MINERALS LIMITED (TSX-V: MMS)
Macarthur Minerals Ltd. is an exploration company that is focused on identifying high grade gold, nickel, cobalt and lithium. Macarthur Minerals has significant gold, lithium, nickel, cobalt and iron ore exploration interests in Australia. Macarthur Minerals has three iron ore projects in Western Australia; the Ularring hematite project, the Moonshine magnetite project and the Treppo Grande iron ore project. In addition, Macarthur Minerals has significant lithium brine interests in the Railroad Valley, Nevada, USA.
On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED
“Cameron McCall”
Cameron McCall, Chairman
| Company Contact: Joe Phillips, CEO and Director jphillips@macarthurminerals.com Tel: +61 448899247 www.macarthurminerals.com |
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Caution Regarding Forward Looking Statements
Certain 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 2018 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 Alan Joseph Phillips | 44,098,300 | 15,501,196 | 263,400 | 59,599,496 | 46,897,923 | 15,501,196 | 62,399,119 | ||||||
| 73.99% | 26.01% | - | 100.00% | 75.16% | 24.84% | 100.00% | ||||||||
| 2 | Election of Earl Evans | 44,172,700 | 6,152,392 | 9,537,804 | 50,325,092 | Passed on a show of hands | ||||||||
| 87.77% | 12.23% | - | 100.00% | |||||||||||
| 3 | Re-election of David Lenigas | 41,639,816 | 18,101,580 | 121,500 | 59,741,396 | 44,439,439 | 18,101,580 | 62,541,019 | ||||||
| 69.70% | 30.30% | - | 100.00% | 71.06% | 28.94% | 100.00% | ||||||||
| 4 | Re-election of Alan Spence Phillips | 43,820,817 | 15,685,579 | 356,500 | 59,506,396 | 46,620,440 | 15,685,579 | 62,306,019 | ||||||
| 73.64% | 26.36% | - | 100.00% | 74.82% | 25.18% | 100.00% | ||||||||
| 5 | Re-election of Cameron McCall | 41,286,217 | 18,385,179 | 191,500 | 59,671,396 | 43,707,508 | 18,763,511 | 62,471,019 | ||||||
| 69.19% | 30.81% | - | 100.00% | 69.96% | 30.04% | 100.00% | ||||||||
| 6 | Appointment of Canadian Auditors | 71,744,291 | 6,172,294 | 135,000 | 77,916,585 | Passed on a show of hands | ||||||||
| 92.08% | 7.92% | - | 100.00% | |||||||||||
| 7 | Approval of Fixed 20% Employee Share Compensation Plan and Consultant Share Compensation Plan | 40,175,303 | 19,682,594 | 4,999 | 59,857,897 | 42,974,926 | 19,682,594 | 62,657,520 | ||||||
| 67.12% | 32.88% | - | 100.00% | 68.59% | 31.41% | 100.00% | ||||||||
| 8 | Increase Number of Common Shares that may be Issued to Insiders Under the Share Compensation Plans | 33,486,824 | 19,718,484 | 6,657,578 | 53,205,308 | 36,285,447 | 19,718,484 | 56,003,931 | ||||||
| 62.94% | 37.06% | - | 100.00% | 64.79% | 35.21% | 100.00% | ||||||||
* 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 1, 3, 4, 5, 7 and 8 as required under section 87(b) on the Ontario Securities Act.