Symbol: TSX: ME
TORONTO, June 19, 2020 /CNW/ - Moneta Porcupine
Mines Inc. (TSX: ME) (OTC: MPUCF) (XETRA:
MOP) ("Moneta" or the "Corporation") announced approval
of each of the matters set out in the Corporation's Management
Information Circular dated May 12,
2020 at the 2020 Annual Meeting of Shareholders held via
webcast on June 18, 2020 (the
"Meeting").
The total number of shares represented by shareholders present
in person and by proxy at the Meeting was 112,075,979, representing
35.98% of the Corporation's outstanding shares.
The eight director nominees proposed by management were elected
by a show of hands with proxies received as follows:
|
Nominee
|
Votes
For
|
Percent
|
Withheld
|
Percent
|
|
Mark
Ashcroft
|
93,607,837
|
92.44%
|
7,651,560
|
7.56%
|
|
Rodney A.
Cooper
|
93,032,162
|
91.88%
|
8,227,235
|
8.12%
|
|
Kevin B.
Heather
|
92,802,337
|
91.65%
|
8,457,060
|
8.35%
|
|
Alex D.
Henry
|
89,441,667
|
88.33%
|
11,817,730
|
11.67%
|
|
Gary V.
O'Connor
|
92,214,159
|
91.07%
|
9,045,238
|
8.93%
|
|
Ian C.
Peres
|
89,258,389
|
88.15%
|
12,001,008
|
11.85%
|
|
Josef
Vejvoda
|
93,633,862
|
92.47%
|
7,625,535
|
7.53%
|
|
Mark Wayne
|
93,604,637
|
92.44%
|
7,654,760
|
7.56%
|
Final voting results, on all matters voted on at the Meeting,
are available on SEDAR at www.sedar.com.
Mr. Alex Henry, CPA, CA has been
appointed as Chairman of the Board of Directors. Mr. Henry is the
managing partner of Hampton-Metrix Capital Partners Inc. and has
served on Moneta Porcupine's board since 2005. Since 1981, Mr.
Henry has held various positions in the investment banking
industry. He has managed private placements, public equity
financings and alternative investment products both in Canada and internationally. Mr. Henry
qualified as a Chartered Accountant with Touche Ross LLP (now
Deloitte LLP) in Toronto,
Ontario.
Mr. Mark Ashcroft, P.Eng. has
been appointed to the Corporation's board of directors effective
June 18, 2020. Mr. Ashcroft has
experience in engineering mining in Canada and overseas. Mr. Ashcroft is currently
the President, CEO and Director of Aurelius Minerals Inc. and has
previously held roles in various institutional brokerage and
advisory businesses including five years in debt and commodities
financing in the Metals and Mining team of Barclay's Capital in
London, UK.
Mr. Warren Bates and Mrs.
Patricia Sheahan did not stand for
re-election. The board wishes to thank Mr. Bates and Mrs. Sheahan
for their contributions over their considerable tenure on the board
and wishes them well in their future
endeavours.
About Moneta
The Corporation holds a 100% interest in
6 core gold projects strategically located along the
Destor-Porcupine Fault Zone in the Timmins Gold Camp with over 85
million ounces of past gold production. The projects consist of the
Golden Highway, North Tisdale,
Nighthawk Lake, DeSantis East,
Kayorum and Denton projects. The Golden Highway Project covers 12
kilometres of prospective ground along the DPFZ of which 4 km hosts
the current 43-101 mineral resource estimate comprised of an
indicated resource of 556,500 ounces gold contained within 3.82 Mt
@ 4.53 g/t Au and a total of 1,174,000 ounces gold contained within
8.47 Mt @ 4.31 g/t Au in the inferred category at a 3.00 g/t Au
cut-off. A preliminary economic assessment on the South West
deposit located within the Golden Highway Project commenced in Q1,
2020. The results of the PEA are due to be delivered later in 2020.
The study will review several development scenarios for the South
West deposit which was the subject of a resource update in
November 2019.
The Corporation's public documents may be accessed at
www.sedar.com. For further information on the Corporation, please
visit our website at www.monetaporcupine.com or email us at
info@monetaporcupine.com.
SOURCE Moneta Porcupine Mines Inc.