Red Oak Mining Provides AGM Results & Proceeds with Financing
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RED OAK MINING PROVIDES AGM RESULTS & PROCEEDS WITH FINANCING
| VANCOUVER, British Columbia, February 27th, 2020 – | Red Oak Mining Corp. (“Red Oak” or the | ||
| “Company”) (TSXV: -ROC.H) | announces that all resolutions were passed by the requisite majority at its | ||
| annual general meeting (“AGM”) held in Vancouver, BC, on January 21, 2020. At the AGM, shareholders | |||
| voted in favor of setting the number of directors at three (3) and the following incumbent directors were re- | |||
| elected: Jay Roberge, Ian Graham, and Tyler Lowes. Further, shareholders approved the Company’s stock | |||
| option plan and the re-appointment of Charlton & Company LLP as auditors of the Company for the ensuing | |||
| year. | Following the AGM, the board of directors of Red Oak re-appointed Jay Roberge as Chairman, CEO |
and President, and Lucy Zhang as CFO.
A total of 6,058,644 common shares were voted at the AGM, representing 61.6% of the issued and outstanding Red Oak common shares. Red Oak would like to thank its shareholders for their participation and continued support.
The Company confirms it will proceed with the second tranche of the current $500,000 private placement of up to an aggregate 10,000,000 common shares at a price of $0.05 per common share originally announced on November 26th, 2019. This financing is a two tranche private placement, of which a first tranche comprising gross proceeds of $200,000 closed on December 18, 2019. Proceeds from this private placement will be used for general working capital and to seek and evaluate new opportunities.
About Red Oak Mining Corp.
Red Oak Mining Corp. is a publicly listed and traded company under the trading symbol ROC.H. The Company’s objective is to leverage the Board and Management’s experience and acquire assets within the mining sector. Emphasis is on elements that are in growing demand due to increasing growth in the global battery electric vehicle market.
For further information please contact:
Jay Roberge, CEO & Chairman [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Reader Advisory
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.