VANCOUVER, BC / ACCESSWIRE / March 10, 2020 / Lucky Minerals Inc. (TSXV:LKY)(OTC:LKMNF)(FRA:LKY) ("Lucky" or the "Company") announces the results of its Annual General and Special Meeting of Shareholders which was held on March 5, 2020 (the "Meeting"). The Shareholders approved each resolution as presented and set out in the Information Circular that was sent to the Company's Shareholders and filed on SEDAR on February 7, 2020.
The following resolutions were approved and passed by Shareholders at the Meeting:
a) Approval of Meeting Notice, Management Information Circular, Form of Proxy, Voting Instruction Form, and request for annual and interim financial statements.
b) Approval, and appointment of, Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the Company's auditors for the ensuing year.
c) Set the number of Directors for the ensuing year at five (5) and to elect the following individuals to the Board of Directors: Adrian Rothwell, Joao Carrelo, Robert Rosner, Shaun Dykes, and Francois Perron. Mr. Stuart Greene did not stand for re-election. The Company wishes to thank Mr. Greene for his dedicated service and contribution as a Director during his tenure, and the Board of Directors, along with management, wish him all the best in his future endeavours.
d) Ratify the Company's rolling 10% stock option plan.
e) Seek disinterested Shareholder approval pertaining to the second closing of a shares for debt transaction with certain creditors, directors, and officers of the Company to settle an aggregate of $114,057 of debt through the issuance of 2,281,144 common shares of the Company at a deemed price of $0.05 per share.
f) Continuation of the Company under the Business Corporations Act (British Columbia) and adoption of new articles.
In addition to the matters related to the aforementioned Meeting, the Company also announces that, effective March 5, 2020, Mr. Sebastian Tang resigned as Chief Financial Officer. Robert Rosner, Director, has been appointed as interim Chief Financial Officer to replace Mr. Tang until such time as a permanent individual is appointed to the position. The Company also wishes to clarify the hold period relating to the closing of the private placement announced in February. Common shares and warrants issued in that transaction are subject to a four month and one day hold period expiring June 25th, 2020 and not June 13th, 2020 as initially published.
About Lucky
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna and Emigrant Projects.
The Company's Fortuna Project is a royalty-free 550km2 (55,000 Ha, or 136,000 Acres) exploration concession. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador. Lucky has a memorandum of understanding on Fortuna with First Quantum Minerals Ltd. ("First Quantum") whereby First Quantum is able to earn up to 70% of copper targets. The Emigrant Creek Project covers a 15 km2 area in an intensely altered and mineralized porphyry copper-gold-molybdenum system in southern Montana.
ON BEHALF OF THE BOARD
"Adrian Rothwell"
Chief Executive Officer
Further information on Lucky can be found on the Company's website at www.luckyminerals.com and at www.sedar.com, or by contacting Adrian Rothwell, President and CEO, by email at [email protected] or by telephone at (866) 924 6484.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE: Lucky Minerals Inc.