Chesapeake Gold Announces AGM Results
Vancouver, May 25, 2022 - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) ("Chesapeake" or the "Company") is pleased to announce that at the 2022 Annual General Meeting ("AGM") held on May 25, 2022 in Vancouver, British Columbia, Chesapeake's shareholders voted in favour of all items of business. All director nominees were elected.
The Company's Stock Option Plan (the "Option Plan"), as amended and restated to comply with the TSX Venture Exchange's (the "TSX-V") new Policy 4.4 - Security Based Compensation, was also approved by a majority of the shareholders. The Option Plan is a "rolling 10%" stock option plan whereby the Company may issue, pursuant to options granted to eligible persons, up to maximum of 10% of the issued and outstanding common shares of the Company determined at the time of grant. As there are 67,366,866 common shares of the Company issued and outstanding as of today's date, a maximum of 6,736,686 common shares are issuable under the Option Plan. The Option Plan remains subject to final TSX-V approval.
A total of 29,237,196 common shares were represented at the AGM, being 43.40% of the Company's issued and outstanding common shares. The following is a tabulation of the votes submitted by proxy:
| Director Nominees | Votes For | % of Votes |
| Randy Buffington | 27,895,150 | 99.89% |
| Christian Falck | 25,794,050 | 92.37% |
| Doug Flegg | 27,891,850 | 99.88% |
| Lian Li | 27,894,378 | 99.89% |
| Alan Pangbourne | 27,891,900 | 99.88% |
| John Perston | 27,891,978 | 99.88% |
| P. Randy Reifel | 27,846,695 | 99.72% |
| To appoint Grant Thornton LLP as new auditor of the Company | 29,221,724 | 99.95% |
| To approve and confirm the Company's "rolling 10%" stock option plan, as amended and restated | 27,426,247 | 98.21% |
Following the AGM, Chesapeake re-appointed Randy Reifel as Chairman of the Board, Christian Falck as Audit Committee Chair and Lead Independent Director, and Lian Li as Compensation and Governance Committee Chair.
About Chesapeake
Chesapeake Gold Corp. is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake's Metates project hosts one of the largest undeveloped gold-silver deposits in the Americas with a defined resource of over 20 million ounces of gold and 550 million ounces of silver (as per NI 43-101 Technical Report Preliminary Economic Assessment dated August 30, 2021 available on www.sedar.com).
Chesapeake also has an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the Company owns approximately 70% of Gunpoint Exploration Ltd. which owns the Talapoosa gold project in Nevada.
For Further Information:
For more information on Chesapeake and its Metates Project, please visit our website at www.chesapeakegold.com or contact Alan Pangbourne at invest@chesapeakegold.com or +1 778 731 1362.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125350