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VANCOUVER, BC, June 22, 2022 /CNW/ - Finlay Minerals Ltd. (TSXV: FYL) ("Finlay" or the "Company") is pleased to report that all matters set before the Annual General and Special Meeting of the Company held on Wednesday, June 22, 2022 ( the "Meeting") were approved by the shareholders. An aggregate of 52,519,041 common shares of the Company ("Common Shares") were voted representing 41.71% of the issued and outstanding Common Shares.
The seven nominees for the Board of Directors were elected and they are: John A. Barakso, Robert F. Brown, Richard T. Dauphinee, Alvin W. Jackson, Ilona Barakso Lindsay, David A. Schwartz, and Kristina Walcott.
Additionally, the reappointment of De Visser Gray LLP, Chartered Professional Accountants, as auditors for the Company was approved by shareholders.
At the Meeting, shareholders also approved the amendments to the Company's 10% rolling Stock Option Plan (the "Stock Option Plan"), as described in the Company's Information Circular dated May 18, 2022 (the "Information Circular"). The Stock Option Plan was amended to comply with the new TSX Venture Exchange Policy 4.4 – Security Based Compensation, as disclosed in the Information Circular. The amended Stock Option Plan is a 10% "rolling" plan and as at the date hereof, 12,591,678 Common Shares are reserved for issuance under the amended Stock Option Plan (based on an aggregate 125,916,788 issued and outstanding Common Shares as at the date hereof). There are currently 6,100,000 stock options outstanding under the amended Stock Option Plan, exercisable for 6,100,000 Common Shares. The amended Stock Option Plan was conditionally approved by the TSX Venture Exchange on May 26, 2022 and is subject to final acceptance of the TSX Venture Exchange.
At a meeting of the Board of Directors held subsequent to the Meeting, the following officers were appointed for a further year:
President & CEO
Chief Financial Officer
Vice President, Exploration & QP, and
Vice President, Corporate Relations
About Finlay Minerals Ltd.
Finlay is a TSX Venture Exchange company focused on exploration for base and precious metal deposits in northern British Columbia.
Finlay trades under the symbol "FYL" on the TSX Venture Exchange. For further information and details, please visit the Company's website at www.finlayminerals.com.
On behalf of the Board of Directors,
Robert F. Brown, P. Eng.
President & CEO
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.
Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.
SOURCE Finlay Minerals Ltd.
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