NASDAQ OMX

Mandalay Resources Corporation Announces the Results of its Annual and Special Meeting of Shareholders and Filing of Initial ESTMA Report

12.5.2017 00:03 | NASDAQ OMX

Dela

TORONTO, May 11, 2017 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:MND) is pleased to announce the results of its Annual and Special Meeting of Shareholders held today in Toronto, Ontario. All of the resolutions presented at the meeting were approved by the shareholders, with the votes cast by proxy representing 74.27% of the total shares outstanding as of the proxy cut-off date, May 9, 2017.

Election of Directors

The number of directors was fixed at six members and each of the six nominees listed in the Company's management information circular dated April 11, 2017 (the "Circular") were re-elected to the Company's Board of Directors. Abraham Jonker remains the lead independent director and Bradford Mills continues as the Chair. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

         
Motion Votes Cast by Proxy For % For Votes Cast by Proxy Withheld % Withheld
Number of Directors 335,006,431 99.97 93,232 0.03
Abraham Jonker 314,102,561 99.68 1,000,716 0.32
Amy Freedman 314,446,995 99.79 656,282 0.21
Bradford A. Mills 311,821,079 98.96 3,282,198 1.04
Mark Sander 314,767,313 99.89 335,964 0.11
Peter R. Jones 314,655,405 99.86 447,872 0.14
Robert Doyle 314,531,812 99.82 571,465 0.18

Appointment of Auditors

Ernst & Young LLP was 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. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

         
Motions Votes Cast by Proxy For % For Votes Cast by Proxy Withheld % Withheld
Appointment of Auditors 334,554,097 99.84 545,566 0.16

Restricted Share Unit Plan

The resolution to ratify the Company's restricted share unit plan and to approve all unallocated options, rights and entitlements thereunder was passed. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

         
Motions Votes Cast by Proxy For % For Votes Cast Against % Withheld
Restricted Share Unit Plan 282,789,839 89.75 32,313,438 10.25

Restricted Share Unit Issuance

The resolution to ratify the issuance of 573,339 restricted share units issued by the Company since May 12, 2016 was passed. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

         
Motions Votes Cast by Proxy For % For Votes Cast Against % Withheld
Restricted Share Unit Issuance 282,879,672 89.77 32,223,605 10.23

Stock Option Plan

The resolution to ratify the Company's amended stock option plan and to approve all unallocated options, rights and entitlements thereunder was passed. The vote was conducted by a show of hands. Detailed results of the votes cast by proxy are set out below.

         
Motions Votes Cast by Proxy For % For Votes Cast Against % Withheld
Restricted Share Unit Plan 282,752,261 89.73 32,351,016 10.27

ESTMA REPORT

The Company has filed its Extractive Sector Transparency Measures Act Report for the year ended December 31, 2016. The Extractive Sector Transparency Measures Act Report can be accessed on the Company's website at www.mandalayresources.com.

About Mandalay Resources Corporation

Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia, Chile and Sweden, and a development project in Chile. The Company is focused on executing a roll-up strategy, creating critical mass by aggregating advanced or in-production gold, copper, silver and antimony projects in Australia, the Americas, and Europe to generate near-term cash flow and shareholder value.

For Further Information
         
Mark Sander
President and Chief Executive Officer
         
Greg DiTomaso
Director of Investor Relations
         
Contact:
647.260.1566




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mandalay Resources Corporation via Globenewswire

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