VANCOUVER, Canada, July 2, 2019, Sonoro Metals Corp., (TSXV: SMO | OTCQB: SMOFF | FRA: 23SP), (“Sonoro” and the “Company”), announces the results of its Annual General Meeting of Shareholders (“AGM”) held June 27, 2019 in Vancouver, BC. At the Meeting, shareholders approved all resolutions put before them by management including the election of all director nominees, the re-appointment of the auditors, the approval of the Company’s share incentive plan and the cancellation and grant of stock options.
Results of Annual General Meeting
Election of the Board of Directors
The shareholders elected to set the number of directors at six (6). The shareholders re-elected John M. Darch, Kenneth MacLeod, Stephen Kenwood, Scott Kelly and Neil Maedel and elected James Taylor to serve as directors of the Company until the next annual meeting of the shareholders. Detailed results are as shown in the table below:
|
Name of Nominee |
# of Shares |
% of Votes |
||||
|
For |
Against |
Withheld |
For |
Against |
Withheld |
|
|
Kenneth MacLeod |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
|
John M. Darch |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
|
Stephen Kenwood |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
|
Scott Kelly |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
|
Neil Maedel |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
|
James Taylor |
6,543,886 |
0 |
0 |
100% |
0% |
0% |
Appointment of Auditors
The shareholders re-appointed Smythe LLP, as the Company’s auditors of the Company for the ensuing year, with their remuneration to be determined by the Board of Directors.
Continuance of Share Option Incentive Plan
The shareholders approved the continuance of the Company’s share option incentive plan. The principal features of the Plan were disclosed in the Information Circular mailed to the shareholders and is available at www.sedar.com.
Cancellation and Grant of Stock Options
The shareholders approved the cancellation and grant of stock options to Kenneth MacLeod, President, CEO and director of the Company as described in the Information Circular.
Following the shareholder meeting, the Board re-appointed its Audit and Compensation Committees. Committee members are Kenneth MacLeod, Stephen Kenwood and James Taylor. The board also reappointed Kenneth MacLeod as President and Chief Executive Officer, Scott Kelly as Chief Financial Officer and Katharine Regan as Corporate Secretary.
Election of James Taylor as a Director
Mr. Taylor spent 35-years as an investment advisor with several firms, including Canaccord Investment Corp and Yorkton Securities from 1980 to 2011; Richardson GMP from 2011 to 2014; and Dundee Goodman from 2014 to 2016. During his employment as an investment advisor, Mr. Taylor participated in the financing of numerous exploration and venture companies that grew to success as significant mineral producers. Mr. Taylor also serves as a director at Auston Capital and Captiva Verde Land Corp.
“We are pleased to welcome Mr. Taylor to the Sonoro Board,” said Kenneth MacLeod, President and CEO of Sonoro. “His lengthy and comprehensive experience in funding resource companies will be of particular value to Sonoro as the Company continues its drilling program at the Cerro Caliche project and prepares for future drilling at the San Marcial project.”
About Sonoro Metals Corp.
Sonoro Metals Corp. is a publicly listed exploration and development company with a portfolio of exploration-stage precious metal properties in Sonora State, Mexico. The Company has highly experienced operational and management teams with proven track records for the discovery and development of natural resource deposits.
On behalf of the Board of SONORO METALS CORP.
Per: “Kenneth MacLeod”
KENNETH MACLEOD
President & CEO
For further information, please contact:
Sonoro Metals Corp. – Tel: (604) 632-1764
Email: info@sonorogold.com
Forward-Looking Statement Cautions:
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plan to continue its exploration activities on its Cerro Caliche Group of Concessions and its San Marcial concession, both located in the municipality of Cucurpe, Sonora, Mexico. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility of unfavourable interim exploration results, the lack of sufficient future financing to carry out exploration plans, and unanticipated changes in the legal, regulatory and permitting requirements for the Company’s exploration programs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company’s complete public disclosure record on SEDAR at www.sedar.com.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.