Kenadyr Announces Results of Annual and Special Shareholders' Meeting
VANCOUVER, BC – December 7, 2023 - Kenadyr Metals Corp. (TSX-V: KEN; OTC-MKTS: KNDYF; FRA: KM0) (the “Company” or “Kenadyr”) announces the results of its annual and special meeting of shareholders (the "Meeting") held earlier today. All matters presented for approval at the Meeting were duly authorized and approved, as follows:
1. Approval of the audited consolidated financial statements of the Company for its financial year ended December 31, 2022, and the report of the auditor thereon;
2. Election of Timothy McCutcheon, Michael Velletta and Jonathan Yan as directors of the Company for the ensuring year;
3. Appointment of Dale Matheson Carr-Hilton LaBonte LLP as auditors of the Company for the ensuing year and authorization of the directors to fix their remuneration;
4. Approval of the special resolution to sell the Company’s wholly-owned subsidiary Kenadyr Mining Corporation; and
5. Approval of the Company’s 10% rolling Stock Option Plan.
As previously announced on October 19, 2023 and described in more detail in the Company’s information circular dated November 2, 2023 prepared in connection with the Meeting, the Company has agreed to the sale of its wholly-owned subsidiary Kenadyr Mining Corporation to an arm’s length third party for consideration of a cash payment of US$1 million, subject to adjustment for any working capital deficiency. The Company expects to complete the sale in the near future, upon satisfaction of all conditions of closing, including the final approval of the TSX Venture Exchange.
Kenadyr’s CEO, Tim McCutcheon, stated “I am pleased that shareholders passed all matters at the shareholders meeting. We will release further announcements as the last conditions precedents are satisfied for closing the sale of Kenadyr Mining Corporation”
ON BEHALF OF KENADYR METALS CORP.
“Tim McCutcheon”
Tim McCutcheon Chief Executive Officer and Director
For more information, please contact:
Tim McCutcheon or Kevin Ma
E-mail: [email protected] Phone: +1-604-569-2963 Ext 105
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.
Cautionary Statement on Forward-Looking Information
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the holding of the Company’s AGM and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release.