Lomiko Metals Inc. (the “Companyâ€) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is pleased to announce that on November 29, 2019 it held its Annual General and Special Meeting of Shareholders (the “Meetingâ€). A total of 32,423,014 common shares (43.23% of the outstanding common shares) were represented at the Meeting in person or proxy.
1. Number of Directors
The number of Directors to be set at four (4) was approved by resolution passed by a vote by ballot with 26,771,300 (98.07%) total votes cast “FOR†and 527,137 (1.93%) votes cast “AGAINSTâ€.
2. Election of Directors
Each of the following individuals were elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:
| Name | Votes “For†(%) | Votes “Withheld†(%) |
| A. Paul Gill | 26,547,134 (98.07%) | 751,297 (2.75%) |
| Jacqueline Michael | 26,963,004 (98.77%) | 335,427 (1.23%) |
| Julius Galik | 27,048,046 (99.08%) | 250,385 (0.92%) |
| Gabriel Erdelyi | 27,047,530 (99.08%) | 250,901 (0.92%) |
3. Appointment of Auditor
The appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditors of the Company, the authorization for the directors to fix the remuneration to be paid to the auditors and the change of auditors from Galloway, Botteselle & Company, Chartered Professional Accountants, to Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants which became effective February 8, 2018 was approved by a resolution passed by a vote by ballot, with 32,380,390 (99.88%) total votes cast “FOR†and 39,557 (0.12%) total votes “WITHHELDâ€.
4. 2019 Stock Option Plan
The 2019 Stock Option Incentive Plan was approved by a resolution passed by a vote by ballot with 26,107,574 (95.64%) total votes cast “FOR†and 1,190,857 (4.36%) total votes cast “AGAINSTâ€.
5. Sale of Subsidiary
The sale of the Company’s wholly-owned subsidiary in accordance with the Business Corporations Act (BC) to Promethieus Technologies Inc was approved by a special resolution passed by a vote by ballot, with 21,079,430 (99.76%) total votes cast “FOR†and 51,463 (0.24%) total votes cast “AGAINSTâ€. The resolution was non-arm’s length transaction and 6,167,538 votes were excluded from voting. Further to the Company’s press release dated September 30, 2019 and November 25, 2019 shareholder approval has been obtained to the transaction. The Company has been advised that the closing of the sale is subject to a financing to be completed by Promethieus Technologies Inc. of $3,670,750. Promethieus has advised the Company that closing will be on or before December 31, 2019, subject to regulatory approval.
6. Other Matters
At the first meeting of the newly constituted Board of Directors held immediately after the Meeting, A. Paul Gill was elected to serve as President and Chief Executive Officer and Jacqueline Michael as Chief Financial Officer until the next annual general meeting of the Company. The Board also elected Julius Galik, Gabriel Erdelyi and Jacqueline Michael to serve as the Company’s Audit Committee until the next annual general meeting of the Company.
For more information on the Company, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: [email protected].
On Behalf of the Board,
LOMIKO METALS INC.
A. Paul Gill,
Chief Executive Officer
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