Silver Bear Provides Shareholder Meeting Results
TORONTO, June 26, 2019 - Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) announces the voting results of its annual general and special meeting (the “Meeting”) held today in Moscow, Russia. A total of 595,233,575 ordinary shares were voted in connection with the Meeting, representing approximately 88.6% 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.
| Matter Voted On | Votes For | Votes Against | Votes Withheld | |||
| Number | % | Number | % | Number | % | |
| Resolutions 1-8 were all passed unanimously on a show of hands. Proxies were lodged for resolutions 1-8 as follows: | ||||||
| Ordinary Resolution 1 – Receiving the Financial Statements of the Corporation | 590,058,232 | 99.1 | 28,200 | 0 | 5,147,143 | 0.9 |
| Ordinary Resolution 2 – Appointing Auditors | 595,123,603 | 100 | 95,406 | 0 | 14,566 | 0 |
| Ordinary Resolution 3 – Approving Auditors’ Remuneration | 595,118,603 | 100 | 114,772 | 0 | 200 | 0 |
| Ordinary Resolution 4 - Electing Maxim Matveev as a director of the Corporation | 590,049,899 | 99.1 | 35,533 | 0 | 5,148,143 | 0.9 |
| Ordinary Resolution 5 – Re-electing Dominic Gualtieri as a director of the Corporation | 590,071,399 | 99.1 | 14,033 | 0 | 5,148,143 | 0.9 |
| Ordinary Resolution 6 – Re-electing Vadim Ilchuk as a director of the Corporation | 590,074,899 | 99.1 | 10,533 | 0 | 5,148,143 | 0.9 |
| Ordinary Resolution 7 – Re-electing Alexey Sotskov as a director of the Corporation | 590,074,899 | 99.1 | 10,533 | 0 | 5,148,143 | 0.9 |
| Ordinary Resolution 8 – Re-electing Christopher Westdal as a director of the Corporation | 590,074,899 | 99.1 | 10,533 | 0 | 5,148,143 | 0.9 |
| Resolutions 9-12 were taken on a Poll and the results of the Poll vote were as follows: | ||||||
| Ordinary Resolution 9 – Authorising the allotment of shares of the Corporation | 170,239,779 | 28.6 | 419,849,353 | 70.5 | 5,144,443 | 0.9 |
| Special Resolution 10 – Approving the disapplication of pre-emptive rights | 170,214,779 | 28.6 | 419,874,353 | 70.5 | 5,144,443 | 0.9 |
| Special Resolution 11 – Approving the Share Bonus Plan amendment | 589,934,099 | 99.1 | 155,033 | 0 | 5,144,443 | 0.9 |
| Special Resolution 12 – Approving the Non-Executive Director Subscription Plan | 590,055,099 | 99.1 | 34,033 | 0 | 5,144,443 | 0.9 |
Vadim Ilchuk, President and Chief Executive Officer, commented: “The Company’s major shareholder supported all items of business brought before the Meeting other than resolutions 9 and 10 (authority to allot shares and disapplication of pre-emptive rights respectively) of which they voted against. It is expected that the Company will put a revised version of those resolutions before the Company’s shareholders in a special meeting of shareholders in the future.”
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. As of April 2018, the Company attained first silver production as a result of commissioning activities, at this time the Company is working toward achieving full commercial production in 2019. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company’s website at www.silverbearresources.com.
Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management’s expectations. Wherever possible, words such as “intends”, “expects”, “scheduled”, “estimates”, “anticipates”, “believes” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include, but are not limited, to the risk factors identified by the Company in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause the Company’s actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.
CONTACT INFORMATION:
| Vadim Ilchuk President and Chief Executive Officer T: +7 985 866 8877 info@silverbearresources.com | Judith Webster Investor Relations Manager & Corporate Secretary T: +416 453 8818 jwebster@silverbearresources.com |