Torex Gold Announces Appointments and Results of Its 2021 Meeting of Shareholders
For Immediate Release
TOREX GOLD ANNOUNCES APPOINTMENTS AND RESULTS OF ITS 2021 MEETING OF SHAREHOLDERS
TORONTO, Ontario, June 29, 2021 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the appointment of Rick Howes as Chair of the Board following the Company’s 2021 annual and special meeting of shareholders (the “Meeting”) held virtually today. In addition, four new directors were appointed including Tony Giardini, Jennifer Hooper, Jay Kellerman and Rosie Moore. Results of the meeting are set out below.
The Meeting also marked the retirement of Fred Stanford as Executive Chair, as well as co-founder Michael Murphy, Andrew Adams and David Fennell, all of whom served on the Torex Board for more than a decade. Robin Bienenstock, who joined the Board in June 2020, chose not to stand for re-election.
Rick Howes, Chair of the Board of Torex, stated:
“I’m both pleased and proud to be appointed Chair of Torex’s Board. I look forward to working with my fellow directors and the management team to continue to deliver excellent operational results and execute on our strategy to pursue long-term growth and value generation.
“I want to thank Robin for her service over the past year and for her contributions toward advancing the Company’s strategy on ESG. And, of course, it’s a historic day with the retirement of Fred, Michael, Andrew and David, and on behalf of the entire team, I extend my utmost gratitude to them for their leadership in building Torex Gold into the successful and respected gold company it is today. With solid fundamentals in place and a clearly defined strategy going forward, Torex Gold is a company with a very promising future.”
ITEM 1. ELECTION OF DIRECTORS
At the Meeting, all director nominees listed in the Company’s management information circular (the “Circular”) dated May 18, 2021 were elected as directors of the Company. The detailed results of the vote by ballot are as follows:
| DIRECTOR | VOTE TYPE | NUMBER OF VOTES | % OF VOTES | ||||
| Richard A. Howes | For Withheld | 60,332,971 484,285 | 99.20% 0.80% | ||||
| Jody L.M. Kuzenko | For Withheld | 60,696,901 120,355 | 99.80% 0.20% | ||||
| Franklin L. Davis | For Withheld | 59,223,215 1,594,041 | 97.38% 2.62% | ||||
| Tony S. Giardini | For Withheld | 60,784,686 32,570 | 99.95% 0.05% | ||||
| Jennifer J. Hooper | For Withheld | 60,775,869 41,387 | 99.93% 0.07% | ||||
| Jay C. Kellerman | For Withheld | 60,777,720 39,536 | 99.93% 0.07% | ||||
| Rosalie C. Moore | For Withheld | 60,782,203 35,053 | 99.94% 0.06% | ||||
| Roy S. Slack | For Withheld | 60,679,478 137,778 | 99.77% 0.23% | ||||
| Elizabeth A. Wademan | For Withheld | 60,346,211 471,045 | 99.23% 0.77% |
Torex Gold Resources Inc.
ITEM 2. APPOINTMENT OF AUDITOR
On a vote by ballot, KPMG LLP, Chartered Public Accountants, were re-appointed as auditors of the Company.
| VOTES FOR | % VOTES FOR | VOTES WITHHELD | % OF VOTES WITHHELD | ||||
|---|---|---|---|---|---|---|---|
| 64,084,512 | 99.80% | 128,131 | 0.20% |
ITEM 3. EXECUTIVE COMPENSATION
On a vote by ballot, a non-binding advisory resolution was passed accepting the approach to executive compensation disclosed in the Circular and delivered in advance of the Meeting.
| VOTES FOR | % VOTES FOR | VOTES AGAINST | % OF VOTES AGAINST | ||||
|---|---|---|---|---|---|---|---|
| 59,718,710 | 98.19% | 1,098,546 | 1.81% |
The formal report on voting results with respect to all matters voted upon at the Meeting will be filed on SEDAR at www.sedar.com
ABOUT TOREX GOLD RESOURCES INC.
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal assets are the El Limón Guajes mining complex (“ELG” or the “ELG Mine Complex”) comprising the El Limón, Guajes and El Limón Sur open pits, the El Limón Guajes underground mine including zones referred to as Sub-Sill and El Limón Deep (“ELD”), and the processing plant and related infrastructure, which commenced commercial production as of April 1, 2016, and the Media Luna deposit, which is an advanced stage development project, and for which the Company issued an updated preliminary economic assessment in September 2018. The property remains 75% unexplored.
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOREX GOLD RESOURCES INC.
Jody Kuzenko Dan Rollins
President and CEO Vice President, Corporate Development & Investor Relations Direct: (647) 725-9982 Direct: (647) 260-1503 [email protected] [email protected]
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information also includes, but is not limited to the continued delivery of excellent operational results and execution on the Company’s strategy to pursue long-term growth and value generation; with solid fundamentals in place and a clearly defined strategy going forward, Torex Gold is a Company with a very promising future. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “continue”, "strategy", "promising”, “future” or variations of such words and phrases or state that certain actions, events or results “to deliver”, “to pursue, or “going forward”,”. Forward-looking information is 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 or implied by such forward-looking information, including, without limitation, those risk factors identified in the Company’s annual information form (“AIF”) and management’s discussion and analysis (“MD&A”). Forward-looking information is based on the assumptions discussed in the AIF and MD&A and such other reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.