Element79 Gold Announces Special Meeting Results
Element79 Gold Announces Special Mee�ng Results
VANCOUVER, BC / THENEWSWIRE / December 19, 2023 – Element79 Gold Corp. (CSE: ELEM)(OTC: ELMGF)(FSE: 7YS) ("Element79 Gold", the "Company") is pleased to announce the vo�ng results from its Special Mee�ng of Shareholders (the "Mee�ng"), held on December 19, 2023.
Shareholders voted in favour of all maters of business before the Mee�ng. Each of those maters is set out in detail in the Management Informa�on Circular published in connec�on with the Mee�ng, which is available on the Company's website www.element79.gold. A total of 14,038,535 common shares, represen�ng approximately 10.76% of the Company's outstanding common shares, were voted in person and by proxy at the Mee�ng.
All of the resolu�ons presented to the shareholders were overwhelmingly approved, including approval by an ordinary resolu�on of the insider shares for debt, and disinterested shareholder approval by special resolu�on of the proposed conversion of an exis�ng loan owed by the Corpora�on to Tellus LLC (“Tellus”) into Common Shares at an issue price of Cdn $0.10 per Common Share, as more par�cularly described in the Circular, and the crea�on of Tellus as a new Control Person, subject to regulatory approval.
About Element79 Gold
Element79 Gold is a mining company focused on gold and silver commited to maximizing shareholder value through responsible mining prac�ces and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart produc�on in the near term.
The Company also holds a por�olio of 5 proper�es along the Batle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant poten�al for near-term resource development. Three proper�es in the Batle Mountain Por�olio are under contract for sale to Valdo Minerals Ltd., with an an�cipated closing date around the end of Q1/2024. The Company has also signed an Op�on Agreement to sell the Maverick Springs project, an advanced-stage exploratory property with an Inferred Resource of 3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and an�cipates comple�ng this sale on or before March 28, 2024.
In Bri�sh Columbia, Element79 Gold has executed a Leter of Intent and funded a drilling program to acquire a private company that holds the op�on to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central Bri�sh Columbia, approximately 20km west of Fort St. James.
The Company has an op�on to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly-owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process through Q1 2023.
For more informa�on about the Company, please visit www.element79.gold
Contact Informa�on:
James C. Tworek, Chief Execu�ve Officer E-mail: [email protected]
For investor relations inquiries, please contact:
Investor Relations Department Phone: +1.403.850.8050 E-mail: [email protected]
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.