TORONTO, May 24, 2023
/PRNewswire/ - Mandalay Resources Corporation ("Mandalay" or "the
Company") (TSX: MND, OTCQB: MNDJF) is pleased to announce the
results of its Annual and Special General Meeting of Shareholders
(the "Meeting") held today virtually. All the resolutions presented
at the Meeting were approved by the shareholders, with the votes
cast by proxy representing 75.67% of the total shares outstanding
as of the record date.
Election of Directors
The number of directors was fixed at seven members and each of
the seven nominees listed in the Company's Management Information
Circular dated April 11, 2023, were
re-elected to the Company's Board of Directors. Abraham Jonker remains the lead independent
director and Bradford Mills
continues as Chair. Results of the votes cast by proxy are set out
below.
|
Resolution
|
Votes Cast by
Proxy For
|
% For
|
Votes Cast by
Proxy Withheld
|
%
Withheld
|
|
Bradford A.
Mills
|
70,224,872
|
99.96
|
25,673
|
0.04
|
|
Abraham
Jonker
|
70,223,624
|
99.96
|
26,921
|
0.04
|
|
Amy Freedman
|
70,229,724
|
99.97
|
20,821
|
0.03
|
|
Dominic
Duffy
|
70,224,512
|
99.96
|
26,033
|
0.04
|
|
Frazer
Bourchier
|
70,231,962
|
99.97
|
18,583
|
0.03
|
|
Julie
Galloway
|
70,229,924
|
99.97
|
20,621
|
0.03
|
|
Robert Doyle
|
69,340,956
|
98.71
|
909,589
|
1.29
|
Appointment of Auditors
Ernst & Young LLP was re-appointed as the auditor of the
Company to hold office until the close of the next Annual Meeting
of the Shareholders, or until their successor is otherwise
appointed, and the directors were authorized to fix the auditor's
remuneration. Results of the votes cast by proxy are set out
below.
|
Resolution
|
Votes Cast by
Proxy For
|
% For
|
Votes Cast by
Proxy Withheld
|
%
Withheld
|
|
Appointment of
Auditors
|
70,246,741
|
99.99
|
3,804
|
0.01
|
Omnibus Plan Resolution
The resolution to approve all unallocated securities, rights and
other entitlements under the Company's omnibus equity incentive
plan was passed. Results of the votes cast by proxy are set out
below.
|
Resolution
|
Votes Cast by
Proxy For
|
% For
|
Votes Cast by
Proxy Withheld
|
%
Withheld
|
|
Omnibus Plan
Resolution
|
69,929,152
|
99.54
|
321,393
|
0.46
|
About Mandalay Resources Corporation:
Mandalay Resources is a Canadian-based natural resource company
with producing assets in Australia
(Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is
focused on growing its production and reducing costs to generate
significant positive cashflow. Mandalay is committed to operating
safely and in an environmentally responsible manner, while
developing a high level of community and employee engagement.
Mandalay's mission is to create shareholder value through the
profitable operation and continuing the regional exploration
program, at both its Costerfield and Björkdal mines. Currently, the
Company's main objectives are to continue mining Youle and Shepherd
veins at Costerfield, both of which are expected to continue to
supply high-grade ore to the processing plant, and to extend
Youle's Mineral Reserves. At Björkdal, the Company will aim to
increase production from the Aurora zone and other higher-grade
areas in the coming years in order to maximize profit margins from
the mine.
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SOURCE Mandalay Resources Corporation