PolyMet Reports Strong Positioning at Shareholders' Meeting
10 Julho 2013 - 9:36AM
Marketwired
PolyMet Mining Corp. (TSX:POM)(NYSE MKT:PLM) ("PolyMet" or the
"Company") is pleased to report 64.9% of the eligible shares were
represented at its Annual General and Special Meeting of
Shareholders held on July 9, 2013 in Vancouver, British Columbia
and all motions put forward by the Company were passed.
Chairman Ian Forrest took the opportunity to thank Glencore for
its continuing support and expressed his appreciation to
shareholders for their confidence as manifested by the recent
US$60.5 million rights offering being 58% oversubscribed.
Jon Cherry, Chief Executive Officer of the Company, in his
update provided to the meeting indicated that PolyMet is now well
positioned financially while it continues to make solid progress
toward completion of permitting. The Company anticipates commencing
construction of the NorthMet Project in the second half of 2014,
with first production by the end of 2015.
The number of directors of the Company was set at eight and
includes re-election of Jonathan Cherry, David Dreisinger, W. Ian
L. Forrest, Alan R. Hodnik, William Murray, Stephen Rowland,
Michael Sill and Frank Sims to the Company's board of directors.
PricewaterhouseCoopers LLP was re-appointed as auditors of the
Company.
The Amended and Restated Shareholder Rights Plan, as
subsequently amended and restated by the Shareholders in 2007, 2008
and confirmed in 2011 (the "Shareholder Rights Plan"), was approved
to (i) amend the definition of "expiration" time to extend the
period for which the Shareholder Rights Plans expires to the
earlier of the date of termination if not confirmed at the upcoming
meeting, or the date of termination if not re-confirmed at
subsequent meetings, and (ii) adding in a clause regarding
re-confirmation of the Shareholder Rights Plan.
About PolyMet
PolyMet Mining Corp. (www.polymetmining.com) is a
publicly-traded mine development company that owns 100% of Poly Met
Mining, Inc., a Minnesota corporation that controls 100% of the
NorthMet copper-nickel-precious metals ore body through a long-term
lease and owns 100% of the Erie Plant, a large processing facility
located approximately six miles from the ore body in the
established mining district of the Mesabi Range in northeastern
Minnesota. Poly Met Mining, Inc. has completed its Definitive
Feasibility Study and is seeking environmental and operating
permits to enable it to commence production. The NorthMet project
is expected to require approximately two million hours of
construction labor, creating approximately 360 long-term jobs, a
level of activity that will have a significant multiplier effect in
the local economy.
POLYMET MINING CORP.
Per: "Jon Cherry"
--------------------
Jon Cherry, CEO
This news release contains certain forward-looking statements
concerning anticipated developments in PolyMet's operations in the
future. Forward-looking statements are frequently, but not always,
identified by words such as "expects," "anticipates," "believes,"
"intends," "estimates," "potential," "possible," "projects,"
"plans," and similar expressions, or statements that events,
conditions or results "will," "may," "could," or "should" occur or
be achieved or their negatives or other comparable words. These
forward-looking statements may include statements regarding the
ability to receive environmental and operating permits, job
creation, or other statements that are not a statement of fact.
Forward-looking statements address future events and conditions and
therefore involve inherent known and unknown risks and
uncertainties. Actual results may differ materially from those in
the forward-looking statements due to risks facing PolyMet or due
to actual facts differing from the assumptions underlying its
predictions.
PolyMet's forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements
are made, and PolyMet does not assume any obligation to update
forward-looking statements if circumstances or management's
beliefs, expectations and opinions should change.
Specific reference is made to PolyMet's most recent Annual
Report on Form 20-F for the fiscal year ended January 31, 2013 and
in our other filings with Canadian securities authorities and the
U.S. Securities and Exchange Commission, including our Report on
Form 6-K providing information with respect to our operations for
the three months ended April 30, 2013 for a discussion of some of
the risk factors and other considerations underlying
forward-looking statements.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
Contacts: Corporate Douglas Newby Chief Financial Officer +1
(651) 389-4105dnewby@polymetmining.com Media LaTisha Gietzen VP -
Public, Gov't & Environmental Affairs +1 (218)
471-2150lgietzen@polymetmining.com Investor Relations PolyMet Jenny
Knudson VP - Investor Relations +1 (651)
389-4110jknudson@polymetmining.com MZ North America Pascal Nigen
Senior Vice-President +1 (212) 301-7149pnigen@mzgroup.us
www.mzgroup.us
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