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Noranda Income Fund Annual General Meeting Voting Results

TORONTO, June 19, 2020 (GLOBE NEWSWIRE) -- Noranda Income Fund (the “Fund”) (NIF-UN.TO) announced today the voting results from its Annual General Meeting (the “AGM”) of unitholders held this morning.

At the AGM, there were 32 holders of Priority Units and Special Fund Units (“Units”) of the Fund represented in person or by proxy, holding 20,762,003 Units and representing 41.53% of the Fund’s 49,989,975 issued and outstanding Units. The results of the vote for the election of trustees were as follows:

Class Nominee Votes For % Proxy Votes Withheld % Proxy
Priority and
Special Units
Daniel Desjardins 18,864,395 91.86% 1,672,390 8.14%
Wendy Kei 18,838,307 91.73% 1,698,478 8.27%
Anthony P.L. Lloyd 18,938,389 92.22% 1,598,396 7.78%
François R. Roy 18,919,789 92.13% 1,616,996 7.87%
Eva Shaw 18,693,676 91.03% 1,843,109 8.97%
Dirk Vollrath 18,192,504 88.58% 2,344,281 11.42%

Following the AGM, Anthony P.L. Lloyd, an Independent Trustee and member of the Board since 2015, was appointed Chair by the Board of Trustees.

Noranda Income Fund is an income trust whose units trade on the Toronto Stock Exchange under the symbol "NIF.UN". Noranda Income Fund owns the electrolytic zinc processing facility and ancillary assets (the "Processing Facility") located in Salaberry-de-Valleyfield, Québec. The Processing Facility is the second-largest zinc processing facility in North America and the largest zinc processing facility in eastern North America, where the majority of zinc customers are located. It produces refined zinc metal and various by-products from sourced zinc concentrates. The Processing Facility is operated and managed by Canadian Electrolytic Zinc Limited, a wholly-owned subsidiary of Glencore Canada Corporation.

Further information about Noranda Income Fund can be found at www.norandaincomefund.com.

For further information, please contact:
Paul Einarson
Chief Financial Officer of Canadian Electrolytic Zinc Limited, Noranda Income Fund's Manager
Tel: 514-745-9380