Latest news with #Option
Yahoo
5 days ago
- Business
- Yahoo
Bravo Announces Voting Results of Annual General and Special Meeting of Shareholders
VANCOUVER, BC, June 5, 2025 /CNW/ - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF) ("Bravo" or the "Company") today announces the results of voting from the Annual General and Special Meeting of shareholders held earlier today (the "Meeting"). A total of 82,049,040 common shares were represented at the meeting, representing 75.18% of the issued and outstanding shares of the Company at the record date. All matters presented for approval at the Meeting were approved by shareholders, as detailed below. Number of Directors Results of voting for the resolution to set the number of directors to be elected at four (4) were as follows: Votes For % Vote For Votes Withheld/Abstained % Withheld/Abstained 82,046,699 100 2,341 0 Election of Directors The following four individuals were elected as directors of the Company until the next annual meeting of shareholders or until their successors are elected or appointed, with the votes being cast by ballot were as follows: Name of Nominee Votes For % Vote For Votes Withheld/Abstained % Withheld/Abstained Luis Mauricio F. Azevedo 80,923,073 100.00 3,757 0 Margot Naudie 80,769,723 99.81 157,107 0.19 Anthony Polglase 80,922,073 99.99 4,757 0.01 Stephen Quin 80,780,173 99.82 146,657 0.18 Appointment of Auditor Results of voting for the resolution to approve KPMG LLP, Chartered Accountants, were re-appointed as independent auditor of the Company for the ensuing year and the directors are authorized to fix their remuneration, were as follows: Votes For % Vote For Votes Withheld/Abstained % Withheld/Abstained 82,028,470 99.97 20,570 0.03 Approval of Stock Option Plan Results of voting by disinterested shareholders for the resolution to approve the Amended Stock Option Plan were as follows: Votes For % Vote For Votes Against % Withheld/Abstained 27,532,079* 99.91 24,850 0.09 * Excluding 53,369,901 shares held by Insiders About Bravo Mining Corp. Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM+Au+Ni Luanga Project, as well as our Cu-Au +/- Ni exploration opportunities in the world-class Carajás Mineral Province, Para State, Brazil. Bravo is one of the most experienced explorers in Carajás. The team, comprising of local and international geologists, has a proven track record of PGM, nickel, and copper discoveries in the region. They have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajás. The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, ports, and hydroelectric grid power. Bravo's current Environmental, Social and Governance activities includes planting more than 35,000 high-value trees in and around the project area, while hiring and contracting locally. In 2025, the Luanga Project was granted a preliminary licence (see news release dated March 3, 2025) for the development of the project. Combined with the recently updated Mineral Resource Estimate which increased both tonnes and grade (see news release dated February 18, 2025), this places Luanga at the forefront of potential future PGM+Au+Ni projects globally, while benefitting from extensive infrastructure (including road, rail and low cost, reliable hydro power), an experienced work force, shallow depths amenable to potential open pit extraction, and in a geopolitically favourable location close to end-user markets. SOURCE Bravo Mining Corp. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
P2 Gold Announces Option Grant
VANCOUVER, BC, May 27, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports that pursuant to its Stock Option Plan, it has granted stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,625,000 common shares in the capital of the Company at an exercise price of $0.11 per share, which expire on May 27, 2027. Following this stock option grant, the Company has a total of 6,375,000 stock options outstanding representing approximately 4.2% of the outstanding common shares of the Company. This stock option grant is subject to acceptance by the TSX Venture Exchange (the "Exchange"). About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
27-05-2025
- Business
- Cision Canada
P2 Gold Announces Option Grant
VANCOUVER, BC, May 27, 2025 /CNW/ - P2 Gold Inc. ("P2" or the "Company") (TSXV: PGLD) (OTCQB: PGLDF) reports that pursuant to its Stock Option Plan, it has granted stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,625,000 common shares in the capital of the Company at an exercise price of $0.11 per share, which expire on May 27, 2027. Following this stock option grant, the Company has a total of 6,375,000 stock options outstanding representing approximately 4.2% of the outstanding common shares of the Company. This stock option grant is subject to acceptance by the TSX Venture Exchange (the "Exchange"). About P2 Gold Inc. P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 104,000 ounces gold and 13,500 tonnes copper over a 14.2-year mine life. The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical testing is underway, and a water permit is expected in the second quarter of this year. All zones on the property remain open and additional exploration targets, near surface and at depth, are drill ready. Neither the TSX Venture Exchange (the "Exchange") nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Information This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, information with respect to the Company's expectations, strategies and plans for its Gabbs Project including the Company's planned expenditures and exploration activities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, the estimated internal rate of return and net present value at a 5% discount rate of the Gabbs Project, as well as the other assumptions disclosed in this news release. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information, including without limitation, the estimates and assumptions contained in the Gabbs Technical Report dated May 17, 2024, and risks associated with mineral exploration, including the risk that actual results and timing of exploration and development will be different from those expected by management. See "Risk Factors" in the Company's annual information form for the year ended December 31, 2024, dated March 21, 2025 filed on SEDAR+ at for a discussion of these risks. The Company cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof. SOURCE P2 Gold Inc.
Yahoo
13-05-2025
- Business
- Yahoo
Usha Resources Ltd. and Totec Resources Ltd. Announce Strategic Partnership Via Letter of Intent for White Willow Property Qualifying Transaction
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / / May 13, 2025 / Totec Resources Ltd. ("Totec") (TSXV:TOTC.P), a capital pool company, and Usha Resources Ltd. ("Usha") (TSXV:USHA)(OTCQB:USHAF)(FSE:JO0), are pleased to jointly announce that they have entered into a non-binding letter of intent (the "LOI") dated May 13, 2025. Pursuant to the LOI, Totec proposes to acquire (the "Transaction") from Usha an option (the "Assigned Option Interest") to acquire a 100% interest in 240 claims (the "Acquired Property") currently forming part of Usha's White Willow Pegmatite Property (the "White Willow Property"), located in the Thunder Bay Mining Division near Atikokan, Ontario. As currently contemplated, the Transaction will be structured as follows: (i) Usha will assign the Assigned Option Interest to a newly incorporated, wholly-owned subsidiary of Usha ("Usha SubCo"); and (ii) Totec will then acquire all of the issued and outstanding shares of Usha SubCo. The Transaction is intended to constitute Totec's qualifying transaction (the "Qualifying Transaction"), as defined in Policy 2.4 of the TSX Venture Exchange (the "Exchange"). For Usha, the Transaction represents a strategic step to focus on its other core assets, while retaining exposure to the Acquired Property through an equity interest in Totec. Usha's Interest in the White Willow Property Usha's White Willow Property consists of 469 mineral claims optioned on March 15, 2023. The White Willow Property covers approximately 9,978 hectares in the Thunder Bay Mining Division, approximately 170 kilometres west of Thunder Bay. To date, Usha has incurred approximately $454,000 in exploration expenditures on the Property, including several rounds of prospecting, mapping and other grassroots fieldwork in preparation for a maiden drill program. The White Willow Property is subject to an underlying option agreement requiring cash payments totaling $220,000 and the issuance of 3,600,000 common shares of Usha. Payments made to date include $120,000 and the issuance of 2,600,000 common shares of Usha. The White Willow Property is also subject to net smelter return royalties ("NSR") of 3.0%, 1.5% to each of 2758145 Ontario Ltd. and Grid Metals Corp. Two-thirds of the NSR may be purchased from 2758145 Ontario Ltd. and Grid Metals Corp. at any time for consideration of $1,250,000 and $1,000,000, respectively. In connection with the Transaction, Usha will commission an independent technical report on the Acquired Property prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The costs associated with this report shall be borne by Totec. Completion of the Technical Report is a condition precedent to closing. Overview of the Proposed Transaction The LOI contemplates that Usha will first transfer the Assigned Option Interest to Usha SubCo, a wholly-owned subsidiary governed under the laws of British Columbia. Totec will then acquire all of the issued and outstanding shares of Usha SubCo, thereby indirectly acquiring the Assigned Option Interest in the Acquired Property. The final structure and form of the Transaction remains subject to satisfactory tax, corporate and securities law advice for both the Company and Usha and will be set forth in a definitive agreement (the "Definitive Agreement") to be entered into among the parties, which will replace the LOI. It is anticipated that, prior to completion of the Transaction, Totec will complete a consolidation of its share capital (the "Consolidation"), whereby every two (2) common shares will be consolidated into one (1) common share (each, a "Common Share"). The consideration for the acquisition of Usha SubCo will be satisfied through the issuance by Totec to Usha of 5,750,000 Common Shares (on a Post-Consolidation basis) at a deemed price of $0.075 per share (the "Consideration Shares"), representing an aggregate deemed value of $431,250. Additionally, Totec will agree to make an aggregate $100,000 cash payment due to the underlying optionor (the "Underlying Optionor") of the White Willow Property by March 2026, an obligation which would otherwise be Usha's. Usha will remain responsible for an aggregate 1,000,000 Usha common share issuance to the Underlying Optionor due by March 2026. Closing of the Transaction is subject to a number of conditions including but not limited to satisfactory due diligence investigations, the negotiation and execution of the Definitive Agreement, receipt of all required shareholder, regulatory and third-party approvals and consents, including that of the Exchange and the Underlying Optionor, satisfactory completion by Totec of the Concurrent Financing (defined below), and satisfaction of other customary closing conditions. The Transaction cannot close until the required approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all. No finders fees will be payable in connection with the Transaction. Additional information concerning the Transaction, including financial information respecting the Acquired Property, will be provided in a subsequent news release. Non-Arm's Length Qualifying Transaction and Shareholder Approval Mr. Deepak Varshney, the Chief Executive Officer of both Totec and Usha, is a common director and officer of the two companies. As such, the Transaction constitutes a "Non-Arm's Length Qualifying Transaction" under Exchange Policy 2.4. Consequently, Majority of the Minority Approval (as defined in Exchange policy 2.4) will be required. Totec intends to seek such approval either through a special meeting of shareholders or via written consent from shareholders holding more than 50% of the Company's issued and outstanding shares, excluding any shares beneficially owned or controlled by Mr. Varshney and any other person required to be excluded by the policies of the Exchange. Similarly, Usha will obtain approval for the transaction from shareholders holding more than 50% of its issued and outstanding shares, excluding shares held by common directors and officers and any other person required to be excluded by the policies of the Exchange. The independent directors of each of Totec and Usha have determined the proposed terms of the Transaction to be fair and reasonable. Notwithstanding is characterization as a "Non-Arm's Length Qualifying Transaction" under Exchange Policy 2.4, the Transaction is not expected to constitute a "Related Party Transaction" under MI 61-101 Protection of Minority Security Holders in Special Transactions. Concurrent Financing Prior to or concurrent with completion of the Transaction, Totec will complete a non-brokered private placement (the "Concurrent Financing") of up to 20,000,000 units of Totec (each, a "Unit") on a Post-Consolidation basis at a price of $0.075 per Unit, for aggregate gross proceeds of up to $1,500,000. Each Unit will be comprised of one (Post-Consolidation) Common Share and one (Post-Consolidation) Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Post-Consolidation Common Share at an exercise price of $0.20 for a period of three (3) years from the date of issuance. The proceeds from the Concurrent Financing are expected to be used to fund the costs associated with completing the Transaction, carrying out the phase 1 exploration program on the Acquired Property (as will be recommended in the Technical Report), the $100,000 option payment due by March 2026, and for general working capital, as will be set out in more detail in the Form 3B2 Filing Statement or Form 3B1 information circular to be filed on SEDAR+ in connection with the Transaction. The pricing of the Concurrent Financing at $0.075 per Unit has been determined based on current market conditions and arm's length negotiations with potential investors and has been reviewed and approved by the independent directors of each of Totec and Usha. Subject to Exchange approval, Totec may pay commissions on proceeds raised under the Concurrent Financing commensurate with industry norms. No finders fees will be payable in connection with the Transaction itself. All securities issued in connection with the Concurrent Financing will be subject to a statutory hold period of four months and one day from the date of issuance. Resulting Issuer Upon completion of the Transaction, and assuming the full subscription of the Concurrent Financing on the terms described above, the resulting issuer (the "Resulting Issuer") will have 28,813,000 Common Shares issued and outstanding. The anticipated share ownership of the Resulting Issuer will be approximately as follows: Group of Shareholders Number of Common Shares Held Ownership Percentage of Resulting Issuer Existing Totec shareholders 3,063,000 10.63% Participants in the Concurrent Financing 20,000,000 69.41% Usha 5,750,000 19.96% Total 28,813,000 100.0% The Resulting Issuer will be engaged in the business of mineral exploration and the development of the Acquired Property. Upon completion of the Transaction, subject to receipt of all requisite approvals, it is anticipated that the Resulting Issuer will be listed on the Exchange as a Tier 2 - Mining issuer. Upon completion of the Transaction, Totec's board of directors and officers will remain in their current roles. Totec's current officers are Deepak Varshney, CEO, and Khalid Naeem, CFO, and Totec's board is currently comprised of Deepak Varshney, Andres Abogado, James Walker, and Paul McGuigan. Biographic information respecting each of these individuals is provided below: Deepak Varshney - Chief Executive Officer and Director Deepak Varshney brings a wealth of experience in mineral exploration and corporate leadership. As a professional geologist with over a decade of experience, Mr. Varshney has demonstrated a keen ability to identify and develop high-potential mineral assets. Mr. Varshney's expertise spans across various roles in the mining sector. He currently serves as part of the leadership of multiple resource companies, including Doubleview Gold Corp., showcasing his capacity to manage and drive growth across multiple ventures simultaneously. With an educational background from Simon Fraser University, Mr. Varshney combines academic knowledge with practical industry experience. Mr. Varshney has been instrumental in raising over $40 million in the last three years and is part of the Varshney Family Office, known for their successful ventures in the mining and real estate industries, which has successfully founded and funded projects worth over $100 million over the past three decades. Khalid Naeem - Chief Financial Officer Khalid Naeem brings over 18 years of financial expertise to his role as CFO. His extensive experience as a Canadian Chartered Professional Accountant has provided him with a deep understanding of financial management, tax compliance, mergers & acquisitions, risk management, and financial reporting. Mr. Naeem's career in the resource sector is marked by his ability to navigate the complex financial landscapes of exploration and mining companies. His current portfolio includes serving as CFO for several public issuers, including Usha Resources Ltd., Xander Resources Inc., and Formation Resources Inc. This multi-company experience demonstrates his capacity to manage diverse financial challenges and opportunities within the mining industry. Prior to joining the public company sector, Mr. Naeem held several positions of progressively increasing seniority at the Canada Revenue Agency (CRA). Andres Abogado - Director Andres Abogado is a lawyer in Mexico and Canada. He holds an LLB in Mexican Law, an NCA issued by the Federation of Law Societies of Canada, and a Masters of Law from the University of British Columbia, with specialization in international and immigration law. He has 12 years' experience as counsel both in Mexico and Canada. He advises junior mining companies and Canadian companies with legal needs in Mexico and Latin America, including regulatory compliance, permits, complex corporate structures and agreements. Mr. Abogado has also acted as counsel on a wide variety of matters, such as contract and settlement advice, immigration applications, regulatory compliance and complex settlement agreements in México, Spain and Latin American countries. He has also acted as counsel for individuals both in the Provincial Court and the Supreme Court of British Columbia in the application and interpretation of international treaties and he has prevented extraditions to Spanish speaking countries. Mr. Abogado is a member of the Law Society of British Columbia, the Vancouver Bar Association, the Canadian Bar Association, the British Columbia Arbitration and Mediation Institute and he has been appointed by the Mexican government as external counsel for the Mexican Consulate in Vancouver. James Walker - Director James Walker has extensive experience in engineering and project management; particularly within mining engineering, mechanical engineering, construction, manufacturing, engineering design, infrastructure, safety management, and nuclear engineering. He is also the CEO and President and Director of Ares Strategic Mining and a Director of Bayhorse Silver Inc. and Xander Resources Inc. Mr. Walker's professional experience includes designing nuclear reactors, submarines, chemical plants, factories, mine processing facilities, infrastructure, automotive machinery, and testing rigs. Mr. Walker holds degrees in Mechanical Engineering, Mining Engineering, and Nuclear Engineering, as well as qualifications in Project Management and Accountancy, and is a Chartered Engineer with the IMechE, and registered as a Project Manager Professional with the Association for Project Management. Paul McGuigan - Director Paul McGuigan is a Professional Geoscientist registered with the Association of Engineers and Geoscientists of British Columbia, with 45 years of international experience in mineral exploration, deposit evaluation, mine operations, and corporate governance. As a geochemical researcher, he developed mineral separation techniques commonly employed in exploration and heavy mineral sands mapping. First employed by Resource Associates of Alaska, Pechiney Ugine Kuhlmann, and Esso Minerals Canada, he operated in Canada and the USA. For the last 34 years, Mr. McGuigan has managed the Cambria group of consulting companies in North and South America, Europe, Africa, the Middle East, and the SW Pacific. In civic service, he has served as a member of the Consulting Practice and the Geoscience Committees of the Engineers and Geoscientists of BC, as a director of the BC Neurological Centre, and, lately, as past-president / director of the BC Centre for Ability Foundation. Sponsorship The Transaction is subject to the sponsorship requirements of the Exchange unless an exemption from those requirements is granted. Totec intends to apply for an exemption from the sponsorship requirements; however, there can be no assurance that an exemption will be obtained. If an exemption from the sponsorship requirements is not obtained, a sponsor will be identified at a later date. An agreement to act as sponsor in respect of the Transaction should not be construed as any assurance with respect to the merits of the Transaction or the likelihood of its completion. Filing Statement In connection with the Transaction and pursuant to the requirements of the Exchange, Totec intends to file a Form 3B2 Filing Statement or Form 3B1 information circular on its issuer profile on SEDAR+ ( which will include comprehensive information regarding the Transaction and the Resulting Issuer. Additional Information Trading in the common shares of Totec has been halted, and will remain halted, pending the satisfaction of all applicable requirements of Policy 2.4 of the Exchange. There can be no assurance that trading of common shares of Totec will resume prior to the completion of the Transaction. Further details concerning the Transaction (including additional information regarding Usha) and other matters will be announced when a Definitive Agreement is reached. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities. About Totec Resources Ltd. Totec is a Capital Pool Company within the meaning of TSXV Policy 2.4, has not commenced commercial operations, and has no assets other than cash. For further information, please contact: Deepak Varshney, CEO and DirectorTelephone: 778-899-1780 Forward Looking Statements: The information provided in this press release regarding Usha has been provided to Totec by Usha and has not been independently verified by Totec. The information provided in this press release regarding Totec has been provided to Usha and has not been independently verified by Totec. Completion of the Transaction is subject to a number of conditions including but not limited to Exchange acceptance, and if applicable pursuant to Exchange policies, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release. The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties, including assumptions that all conditions to the closing of the Transaction will be satisfied and that the Transaction will be completed on the terms set forth in the LOI. Although Totec and Usha consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this news release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that required approvals and the satisfaction of material conditions are not obtained in connection with the Transaction, the risk that the Transaction is not approved or completed on the terms set out in the LOI or Definitive Agreement (which has not or may not be entered into between Totec and Usha) or at all and that sufficient funds may not be raised pursuant to the Concurrent Financing. Although Totec and Usha believe that the expectations reflected in forward looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Totec and Usha disclaim any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. 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. SOURCE: Totec Resources Ltd. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
30-04-2025
- Business
- Business Wire
Almonty Announces Results of Annual General and Special Meeting of Shareholders
TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (' Almonty ' or the ' Company ') (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI), a leading global producer of tungsten concentrate, announces the results of its annual general and special meeting of shareholders (the ' Meeting ') held today. 1. ELECTION OF DIRECTORS The seven (7) nominees listed in the Company's management information circular dated March 21, 2025 provided in connection with the Meeting (the ' Circular ') were elected as directors of the Company. Detailed results of the votes are as set out below: Nominee Votes For % For Votes Against % Against Lewis Black 131,574,682 99.90% 131,448 0.10% Daniel D'Amato 131,486,446 99.83% 219,684 0.17% Dr. Thomas Gutschlag 131,446,242 99.80% 259,888 0.20% Mark Trachuk 131,290,736 99.68% 415,394 0.32% Andrew Frazer 131,432,255 99.79% 273,875 0.21% David Hanick 131,423,270 99.79% 273,860 0.21% General Gustave F. Perna 131,642,762 99.95% 63,368 0.05% Expand 2. APPOINTMENT OF AUDITORS Zeifmans LLP was reappointed as the auditor of the Company until the close of the next annual meeting of shareholders, and the board of directors of the Company (the ' Board ') was authorized to fix their remuneration. Detailed results of the votes are set out below: Votes For % For Votes Withheld % Withheld 131,604,102 99.92% 102,028 0.08% Expand 3. APPROVAL OF AMENDMENT OF SHARE PURCHASE WARRANTS The amendment of the terms of 700,000 share purchase warrants in order to extend the term of such warrants, originally due to expire on February 19, 2025, to February 19, 2026, was approved by disinterested shareholders. Detailed results of the votes are set out below: Votes For % For Votes Against % Against 103,906,448 99.19% 847,512 0.81% Expand 4. APPROVAL OF SHARE CONSOLIDATION The consolidation of the common shares of the Company (the ' Shares '), at a consolidation ratio of up to five (5) pre-consolidation Shares for one (1) post-consolidation Share, was approved, and the Board was authorized to select the consolidation ratio within the approved range and to determine when the consolidation will be effected, provided it is not later than April 30, 2026, subject to the Board's authority to decide not to proceed with the consolidation of the Shares. Detailed results of the votes are set out below: 5. APPROVAL OF OMNIBUS EQUITY INCENTIVE PLAN The Company's omnibus equity incentive plan (the ' Omnibus Plan ') was approved. Detailed results of the votes are set out below: As the Omnibus Plan was passed at the Meeting, it was unnecessary to consider the Unallocated Option Resolution (as defined in the Circular). For a full description of the results of the Meeting, refer to the Company's Report of Voting Results dated April 30, 2025 and filed on the Company's profile on SEDAR+ at About Almonty Almonty is a diversified and experienced global producer of tungsten concentrate in conflict-free regions. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira mine in Portugal. Its Sangdong tungsten mine in Gangwon Province, South Korea is currently under construction. The Sangdong mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, and has significant upside potential from an underlying molybdenum deposit. Additional development projects underway include the Valtreixal tin/tungsten project in northwestern Spain and Los Santos Mine in western Spain. Further information about Almonty's activities may be found at and under Almonty's profile at Legal Notice The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as 'may', 'will', 'plan', 'expect', 'intend', and 'believe' or variations of such words and phrases. Forward-looking information or statements in this press release include matters relating to the implementation of any consolidation of the Shares, including its timing and the consolidation ratio. These statements and information are based on management's beliefs, estimates and opinions on the date the statements are made and reflect Almonty's current expectations. Forward-looking statements in this press release are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the possibility that the Board may not proceed with implementing any consolidation of the Shares and the possibility that any consolidation of the Shares will not produce any anticipated benefits for the Company or shareholders or may negatively impact the Company's business, operations or financial position. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
