VANCOUVER, Oct. 10, 2019 /CNW/ - Victory Metals
("TSX-V:VMX") ("Victory" or the "Company") is
pleased to announce the results of its annual and special meeting
of shareholders held today in Vancouver,
British Columbia (the "Meeting"). All matters
submitted to shareholders for approval as set out in the Company's
Notice of Meeting and Information Circular, both dated August 22, 2019, were approved by the requisite
majority of votes cast at the Meeting.
Shareholders approved setting the number of directors of the
Company at four members and the incumbent directors – Paul Matysek, Collin
Kettell, Craig Roberts, and
Douglas Forster – were elected as
directors to hold office for the ensuing year.
Shareholders also voted in favour of (i) reappointing Davidson
& Company LLP, Chartered Professional Accountants, as auditor
of the Company until the next annual meeting of shareholders at a
remuneration to be fixed by the directors of the Company; (ii)
approving and adopting a new stock option plan as described in the
Information Circular (the "New Stock Option Plan"); and
(iii) ratifying and approving the existing stock option plan of the
Company should the New Stock Option Plan not be approved by the TSX
Venture Exchange. The New Stock Option Plan, which remains subject
to TSX Venture Exchange approval, is a rolling stock option plan
reserving a maximum of 10% (presently 9,038,780) of the issued
shares of the Company at the time of a stock option grant.
Management of the Company would like to thank the Company's
shareholders for their continued support. The total number of
common shares of the Company ("Common Shares") represented
by shareholders present in person and by proxy at the Meeting was
51,922,278 Common Shares, representing 57.44% of the Company's
total issued and outstanding Common Shares.
About Victory Metals
Victory owns a 100% interest in the Iron Point Vanadium Project,
located 22 miles east of Winnemucca,
Nevada. The project is located within a few miles of
Interstate 80, has high voltage electric power lines running
through the project area and a railroad line passing across the
northern property boundary. The Company is well financed to advance
the project through resource estimation and initial feasibility
study work. Victory has a proven capital markets and mining team
led by Executive Chairman Paul
Matysek. Major shareholders include Casino Gold (46%), and
management, directors and founders (27%). Approximately 35% of the
Company's issued and outstanding shares are subject to an escrow
release over the next two and a half years.
Please see the Company's website at www.victorymetals.ca.
On Behalf of the Board of Directors of
VICTORY METALS INC.
Paul Matysek
Executive Chairman and Director
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 contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (collectively "forward-looking
statements"). Certain information contained herein constitutes
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"expects", "believes", "aims to", "plans to" or "intends to" or
variations of such words and phrases or statements that certain
actions, events or results "will" occur. Forward-looking statements
are based on the opinions and estimates of management as of the
date such statements are made and they are subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed by such
forward-looking statements or forward-looking information,
including the business of the Company, the speculative
nature of mineral exploration and development, fluctuating
commodity prices, competitive risks, and delay, inability to
complete a financing or failure to receive regulatory approvals.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. The Company does not undertake to
update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws.
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SOURCE Victory Metals Inc
