Results of 2020 Annual General Meeting

Macarthur Minerals
·5-min read

VANCOUVER, British Columbia, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Macarthur Minerals Limited (ASX: MIO) (TSX-V: MMS) (OTCQB: MMSDF) (the “Company” or “Macarthur”) is pleased to advise that all resolutions detailed in the Notice of Annual General Meeting of the Company held today in Brisbane, Australia were passed by the requisite of majority on a show of hands.

Resolution 10, Approval of 10% Placement Facility was a Special Resolution which passed with the requisite 75% majority.

The results of proxy votes cast in respect of each of the resolution put to shareholders at the Annual General Meeting are set out in Appendix 1.

On behalf of the Board of Directors, Mr Cameron McCall, Executive Chairman

For more information please contact:

Joe Phillips

CEO & Director

+61 7 3221 1796

communications@macarthurminerals.com

Investor Relations – Australia

Investor Relations - Canada

Advisir

Investor Cubed

Sarah Lenard, Partner

Neil Simon, CEO

sarah.lenard@advisir.com.au

+1 647 258 3310

info@investor3.ca


Company profile

Macarthur is an iron ore development, gold and lithium exploration company that is focused on bringing to production its Western Australia iron ore projects. The Lake Giles Iron Project mineral resources include the Ularring hematite resource (approved for development) comprising Indicated resources of 54.5 million tonnes at 47.2% Fe and Inferred resources of 26 million tonnes at 45.4% Fe; and the Lake Giles magnetite resource of 53.9 million tonnes (Measured), 218.7 million tonnes (Indicated) and 997 million tonnes (Inferred). Macarthur has prominent (~721 square kilometer tenement area) gold, lithium and copper exploration interests in Pilbara region of Western Australia. In addition, Macarthur has lithium brine Claims in the emerging Railroad Valley region in Nevada, USA.

This news release is not for distribution to United States services or for dissemination in the United States

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. All statements herein, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to statements regarding expected completion of the Feasibility Study; conversion of Mineral Resources to Mineral Reserves or the eventual mining of the Project, are forward-looking statements. 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. 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 but are not limited to: unforeseen technology changes that results in a reduction in iron or magnetite demand or substitution by other metals or materials; the discovery of new large low cost deposits of iron magnetite; the general level of global economic activity; failure to complete the FS; inability to demonstrate economic viability of Mineral Resources; and failure to obtain mining approvals. 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 2020 Annual General Meeting – Voting Results

Number of proxy votes received

Number of votes cast on a poll

Resolution

For

Against

Proxy's
Discretion

#Abstain

For

Against

#Abstain

1

Adoption of Remuneration Report

52,996,688

1,362,771

3,121,091

8,538

56,117,779

1,362,771

8,538

92.20%

2.37%

5.43%

97.63%

2.37%

2

Re-election of Andrew Suckling

55,009,678

1,938,625

6,571,834

395

61,581,512

1,938,625

395

86.60%

3.05%

10.35%

96.95%

3.05%

3

Election of Daniel Lanskey

55,168,355

1,356,631

6,571,834

423,712

61,740,189

1,356,631

423,712

87.43%

2.15%

10.42%

97.85%

2.15%

4

Re-election of Alan Joseph Phillips

55,591,653

1,356,650

6,571,834

395

62,163,487

1,356,650

395

87.52%

2.14%

10.35%

97.86%

2.14%

5

Re-election of Alan Spence Phillips

55,107,197

1,841,106

6,571,834

395

61,679,031

1,841,106

395

86.76%

2.90%

10.35%

97.10%

2.90%

6

Re-election of Cameron McCall

55,589,172

1,359,131

6,571,834

395

62,161,006

1,359,131

395

87.51%

2.14%

10.35%

97.86%

2.14%

7

Appointment of Canadian Auditor

55,582,172

1,356,131

6,571,834

10,395

62,154,006

1,356,131

10,395

87.52%

2.14%

10.35%

97.86%

2.14%

8

Approval of Fixed 20% Employee Share Compensation Plan and Consultant Share Compensation Plan

50,875,634

2,193,461

4,398,068

21,925

55,273,702

2,193,461

21,925

88.53%

3.82%

7.65%

96.18%

3.82%

9

Ratification of Previous Securities Issues

54,018,492

2,629,927

6,571,834

395

60,590,326

2,629,927

395

85.44%

4.16%

10.40%

95.84%

4.16%

10

Approval of 10% Placement Capacity

54,023,660

1,599,700

6,571,834

1,325,338

60,595,494

1,599,700

1,325,338

86.86%

2.57%

10.57%

97.43%

2.57%

11

Approval of Capacity for Future Share Placement

54,013,763

1,615,597

6,571,834

1,319,338

60,585,597

1,615,597

1,319,338

86.84%

2.60%

10.57%

97.40%

2.60%

* Percentage figures are based on total number of shares voted.
#Votes cast by a person who abstains on an item are not counted in calculating the required majority on a poll.