Western Magnesium Announces AGM Results
Washington, March 7, 2023 - Western Magnesium Corp. (WMC) (TSXV:WMG.V) (Frankfurt-3WM) (OTC:MLYF) ("Western Magnesium" or the "Company") is pleased to announce all resolutions passed at its annual general meeting ("AGM") held earlier today.
Shareholders voted in favour of all matters brought before them at the meeting, including the re-election of Edward Lee, Sam Ataya, Steve Thorlakson, Jeff Wilson, and Rabih Ataya to the Board of Directors; the appointment of Adeptus Partners LLC as the Company's auditors; and the stock option plan.
The percentage of shares represented at the meeting was 43.73% with a total of 121 shareholders, holding 199,655,955 shares.
Due to a technical problem with the Microsoft Teams software, unfortunately, a number of shareholders were not able to access the online meeting. We are working with Microsoft to resolve this issue and once this is resolved we will send an invitation for a follow up discussion.
About Western Magnesium
Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labour and energy costs relative to current methods and processes, while being environmentally friendly.
Investor Relations
John Ulmer | julmer@westmagcorp.com | (604) 423-2709
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to several factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing, or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able to hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.
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 release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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