Results from the Annual and General Shareholders Meeting and Stock Options
FOR IMMEDIATE RELEASE
TSX Venture Exchange: ABI.V
RESULTS FROM THE ANNUAL AND GENERAL SHAREHOLDERS MEETING AND
STOCK OPTIONS
Rouyn-Noranda, Quebec, December 6, 2023
Abcourt Mines Inc. (“Abcourt” or the “Corporation”) (TSX VENTURE: ABI) is pleased to
announce the results of its A nnual and General Meeting of Shareholders held on December 6,
2023 (the “Meeting”). The shareholders elected each of the nominees presented in the
management circula r relating to the Meeting, namely : Pascal Hamelin, Dan iel Adam, René
Branchaud, Loic Bureau, Jasmine Hinse, Lise Kistabish and François Mestrallet.
Lise Kistabish is a new director of the Corporation. Mrs. Kistabish graduated from the National
School of Public Administration (ENAP) in public management in a First Nation context. She has
over 25 years of experience in management and has been Director of training, employment and
social development for the Abitibiwinni First Nation Council since May 2019.
The Board of Di rectors would like to thank the only outgoing director, Nicole Veilleux, Chair of
the Audit committee and D irector of the Corporation since December 2018, for her valuable
contribution to the Corporation and the Board of Directors.
Shareholders also approved the appointment of Raymond Chabot Grant Thornton, Professional
Chartered Accountants, as auditors of t he Corporation for the financial year ending June 30,
2024.
At the Board meeting that followed the M eeting, the Board has appointed Pascal Hamelin as
President and Chief Executive Officer, Christine Lefebvre as Chief Finan cial Officer , Loic
Bureau as Chairman and Julie Godard, as Corporate Secretary. Also, the following directors
were appointed as members of the Board committees: Daniel Adam , Lise Kistabish and
Francois Mestrallet on the Audit Committee; René Branchaud, Loic Bureau and François
Mestrallet on the Compensation Committee; René Branchaud , Jasmine Hinse and Lise
Kistabish on the Governance Committee; and Pascal Hamelin, Daniel Adam and Loïc Bureau
on the Technical Committee (health, safety and environment).
The Board of Directors also granted stock options to its new director, on the same terms as
those granted last summer to its directors. The se stock options allow to subscribe 1,500,000
common shares of Abcourt at an exercise price of $0.05 per share, expiring in 5 years.
The Board of Directors also approved some amendments to its common share s tock option
Plan (the “Stock Option Plan”) to bring it into line with the most recent changes to the TSX
Venture Exchange (the “Exchange”) Policy on Security Based Compensation.
The maximum number of common shares that may be issued under the Stock Option Plan as
modified on August 23, 2023 is 42,810,000 (previously 14,500,000). The main amendments
subsequently adopted by the Board of Directors as requested by the Exchange include, among
other things, that the maximum number of common shares which may be reserved for issuance
to any one person pursuant to stock options during a twelve -month period may not exceed 5%
of the common s hares outstanding at the time of grant (on a non -diluted basis). The maximum
aggregate number of common s hares that are issuable pursuant to all security based
compensation granted or issued to insiders (as a gro up) must not exceed 10% of the common
shares of the Corporation at any point in time (unless the Corporation has obtained the requisite
disinterested shareholder approval pursuant to the Exchange requirements). The maximum
aggregate number of c ommon s hares that are issuable pursuant to all security based
compensation granted or issued in any 12 month period to insiders (as a group) mus t not
exceed 10% of the issued common s hares of the Corporation, calculated as at the date any
security based compensation is granted or issued to any insider (unless the Corporation has
obtained the requisite disinterested shareholder approval pursuant to the Exchange
requirements).
The amended Stock Option Plan also provides that the approval of the Corporation’s
disinterested shareholders will be required for any reduction in the exercise price of a stock
option or for the extension of the term of a stock option, if the participant is an insider of the
Corporation at the time of the proposed amendment.
All modifications to the Stock Option Plan are subject to the approval of the Exchange.
ABOUT ABCOURT MINES INC.
Abcourt Mines Inc. is a gold producer and a Canadian exploration corporation with strategically
located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and
mine where it concentrates its activities.
For further information, please visit our website at www.abcourt.ca, and consult our filings under
Abcourt's profile on www.sedarplus.ca, or contact:
Pascal Hamelin
President and CEO
T: (819) 768-2857
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc.,
T: (514) 722-2276, post 456
The TSX Venture Exchange and its regulatory service provider (as defined in the policies of the
TSX Venture Exchange) assume no responsibility for the adequacy or accuracy of this press
release.