Black Iron Announces 2023 AGM Results and Provides Project Update
Black Iron Announces 2023 AGM Results and Provides Project Update
TORONTO, June 13, 2023 -- Black Iron Inc. (“ Black Iron ” or the “Company”) (TSX: BKI) reports, in accordance with the
policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated May 8, 2023
were elected as directors of the Company at the annual general meeting of shareholders of the Company (the “Meeting ”) held
today.
Detailed results of the vote for the election of directors are as follows:
Votes For % Votes For Votes
Withheld
% Votes
Withheld
Matthew Simpson 19,597,364 99.317 134,722 0.683
Bruce Humphrey 19,598,421 99.323 133,665 0.677
John Detmold 19,597,421 99.318 134,665 0.682
Pierre Pettigrew 19,597,421 99.318 134,665 0.682
David Porter 19,431,264 98.475 300,822 1.525
Zenon Potoczny 19,597,364 99.317 134,722 0.683
A total of 32,662,981 common shares were voted in connection at the Meeting, representing approximately 10.752% of the
issued and outstanding common shares of the Company.
Project Development Update
The Company has now completed all of the extensive documentation required to file an application to Ukraine’s government to
put a formal investment support agreement in place that will include transfer of the Ministry of Defence lands upon there being
peace. This documentation is going through a final review process involving Company management and external legal counsel,
with the aim of submitting to Ukraine’s Ministry of Economy around June month end. Several correspondences have also been
made directly with Ukraine’s recently appointed Deputy Minister of Defence assigned to Black Iron’s file to progress land
transfer negotiations.
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project
located in Kryviy Rih, Ukraine. Full mineral resource details and projected project economics can be found in the NI 43-101
technical report entitled “(Amended) Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit”
published in March 2020 with an effective date of November 21, 2017 under the Company’s profile on SEDAR at
www.sedar.com. The Project is surrounded by five other operating mines, including Metinvest’s YuGOK and ArcelorMittal's
iron ore complex. Please visit the Company's website at www.blackiron.com for more information
For more information, please contact:
Matt Simpson
Chief Executive Officer
Black Iron Inc.
Tel: +1 (416) 309-2138
Forward-Looking Information
This press release contains forward-looking information. Forward-looking information is based on what management believes
to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available
to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the election of
directors, submission of the investment support agreement, discussions with the Ukraine government and the Company’s
future plans. Generally, forward looking information can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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 but not limited to: the war in Ukraine; general business, economic, competitive, geopolitical and
social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks
described in the annual information form of the Company. Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. 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 statements.
Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral
resources are not mineral reserves and do not have demonstrated economic viability.