MacDonald Mines Exploration Announces Results from its Annual General and Special Meeting of Shareholders and Meeting of the Board of Directors
Toronto, Ontario – July 7, 2014 - MacDonald Mines Exploration Ltd. (TSX-V:BMK) (“MacDonald” or the "Company”) is pleased to report that a quorum was present at its Annual and Special Meeting of Shareholders (the “AGSM”) held on June 30, 2014 at the Company’s offices in Toronto, Ontario and that all resolutions put forth were passed with overwhelming majority.
The resolutions put forth to the shareholders follow. All resolutions required 50% plus 1 of the voted shares to be “in favour” to pass except for the share consolidation resolution, which required 66.67% of the shares to be “in favour” to pass. The number presented after each item represents the percentage of votes in favour of the resolution.
- John P. Sanderson, Hadyn Butler, Richard Schler and Quentin Yarie were re-appointed to the Board of Directors. (>93%)
- MNP LLP was appointed as the Company’s auditors for the December 31, 2014 year end. The directors are authorized to fix their remuneration. (>97%)
- The Company’s stock option plan, which complies with the policies of the TSX Venture Exchange, was re-approved. (>93%)
- Share issuance in lieu of cash remuneration to directors and officers was approved. (>93%)
- A potential share consolidation on a five for one, four for one, three for one or two for one basis was approved to be completed, if at all, at the Board of Directors discretion. (>82%)
- The Company’s shareholder rights plan was re-approved. (>97%)
Board of Directors’ Meeting
Immediately following the AGSM, the Board of Directors held meeting where the following individuals were appointed to serve in these capacities until the next annual Meeting of Shareholders:
- John Sanderson as Chairman of the Board of Directors
- Richard Schler as Chief Executive Officer
- Quentin Yarie as President and Chief Operating Officer
- Peter Liabotis as Chief Financial Officer and Corporate Secretary
About MacDonald Mines Exploration Ltd.
MacDonald Mines Exploration Ltd is a mineral exploration company headquartered in Toronto, Ontario, Canada. The company is strategically focused on Copper and Zinc (VMS), and Nickel exploration in the Ring of Fire area of the James Bay Lowlands of Northern Ontario. The Company's common shares trade on the TSX Venture Exchange under the symbol “BMK”.
For more information, please visit our website at www.macdonaldmines.com.
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