VANCOUVER, British Columbia, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Arras Minerals Corp. (TSX-V: ARK) (“Arras” or “the Company”) is pleased to announce the detailed voting results of the proposals considered at its annual meeting of shareholders held on September 8, 2022 (the “Meeting”). A total of 8,747,150 or 16.6% of the Company’s issued and outstanding shares were represented at the Meeting.
The Company’s shareholders have voted to set the number of directors to seven (7) (7,542,371 or 96.5% voted “For”, and 273,923 or 3.5% voted “Against”).
The following nominees, as listed in Arras’ management information circular, were elected as directors of the Company:
G. Wesley Carson
Brian Edgar, Chairman commented, “We are very pleased to welcome Christian Milau to the Arras Board of Directors. Christian brings a wealth of industry experience over the past 25 years and we look forward to working with him as an important new addition to our Board of Directors.”
Arras is also pleased to announce that the Company’s shareholders have ratified and approved the appointment of Smythe LLP as the Company’s auditors, for the fiscal year ending October 31, 2022 (8,737,070 or 99.9% voted “For”, and 10,080 or 0.1% abstained from voting).
Finally, a majority of the Company's shareholders voted to approve and adopt the Company's equity incentive plan (7,506,323 or 96.0% voted "For", and 309,971 or 4.0% voted "Against").
Full details of the proposals are fully described in the Company’s management information circular filed on July 29, 2022 available on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director
+1 604 687 5800
About Arras Minerals Corp.
Arras Minerals Corp. is British Columbia incorporated public company trading on the TSX-V exchange under the symbol “ARK.” The Company is advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project.
Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Arras’ future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding the use of net proceeds from the recent private placement, plans and expectations of the drill program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras’ exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras’ management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “continues,” “may,” variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management’s control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption “Risk Factors” in the Non-Offering Prospectus filed on the Company’s profile on SEDAR on May 31, 2022 and in the Company’s Annual Report on Form 20-F for the fiscal year ended October 31, 2021 filed with the U.S. Securities and Exchange Commission filed on February 17, 2022 available on www.sec.gov. Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.