ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS 2020 Share Consolidation Approved
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55 University Avenue, Suite 1805
Toronto, Ontario, Canada,
M5J 2H7
www.conquestresouces.com
+1 647 728 4126
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS 2020
Share Consolidation Approved
Toronto, August 31, 2020 – Conquest Resources Limited (the “Company” or “ Conquest”), reports that
it held its Annual and Special Meeting of Shareholders today in Toronto .
At the meeting, John Kearney, Chairman and Chief Executive Officer, provided shareholders with an
update on the Company’s activities.
On August 27, 2020 Conquest received a 30 day extension from the TSX Venture Exchange (“TSXV”) for
completion of the previ ously announced acquisition of Canadian Continental Exploration Corp (the
“Acquisition”) and the previously announced private placement financing of up to $ 3 million (the
“Financing”). See Conquest News Releases July 16, 2020, August 7, 2020 and August 27, 2020.
In July 2020,Conquest entered into a conditional agreement with Canadian Continental Exploration Corp.
(“CCEC”) to acquire an extensive package of mining claims which surrounds Conquests’ Golden Rose
Mine Project at Emerald Lake in the Temagami mining camp northeast of Sudbury, Ontario. The package
consists of almost 10,000 hectares of mining lands highly prospective for precious and base metals and
under explored. When combined with the Company’s current land holdings including the past producing
Golden Rose Mine, Conquest will control over 130 square kilometers making it the one of the largest land
holders in the Temagami Mining Camp.
Under the Acquisition Agreement, Conquest will issue 40,306,667 post consolidated shares of Conquest to
the shareholders of CCEC, on the basis of one post consolidated share for each share of CCEC held.
Conquest will also issue 2,900,000 options, under the Company’s Stock Option Plan, exercisable at $0.15
per consolidated share (equivalent to $0.06 per pre -consolidated share) expiring in September 2021, in
replacement for existing options currently outstanding in CCEC.
It is expected that the Acquisition will close immediately following a Special Meeting of Shareholders of
Canadian Continental Exploration Corp, scheduled to be held on September 23, 2020. Final acceptance of
the Acquisition by the TSXV is subject to fulfilling the requirements of the Exchange.
In conjunction with the Acquisition, and conditional thereon, and subject to final acceptance of the
TSX Venture Exchange, the Company is completing a non-brokered private placement of up to $3 million.
The financing consists of a combination of Units at a price of 12 cents per Unit, with each Unit comprising
one post consolidated share and a half warrant exercisable at 18 cents for two years, and post consolidated
flow through shares at a price of 15 cents per share. The securities will be issued in the form of Subscription
Receipts which will be converted to shares and warrants upon completion of the Acquisition.
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BUSINESS OF THE AGM
Share Consolidation - One for Two and One half (1:2.5)
At the Annual and Special Meeting of Shareholders, Conquest shareholders voted 98.3% in favour to
approve as a Special Resolution the consolidation of all the issued and outstanding common shares of the
Corporation at a consolidation ratio of one (1) new post -consolidation share for every two and one half
(2.5) pre-consolidation shares (the “Consolidation”).
The TSX Venture Exchange has conditionally approved the Share Consolidation subject to the Corporation
fulfilling all the conditions of the TSXV in respect of the Share Consolidation.
It is intended that Articles of Amendment to implement the Consolidation will be filed with the Director
under the Business Corporations Act (Ontario) prior to completion of the Acquisition and such Articles of
Amendment will become effective upon the issuance by the Director under the OBCA of a Certificate of
Amendment.
Election of Directors
All the outgoing directors: Messrs. Kearney, Kinloch, Gauthier, McKillen, Palframan and Steenberg, were
re-elected as directors on a single ballot in accordance with the proxies submitted. The detailed results of
the proxies submitted for the vote on the election of directors are as follows:
Director Votes For % of Votes For Votes Withheld % of Votes
Withheld
John F. Kearney 33,178,388 98.6 473,000 1.4
Robert Kinloch 33,178,388 98.6 473,000 1.4
Gerald Gauthier 33,178,388 98.6 473,000 1.4
Terence McKillen 33,178,388 98.6 473,000 1.4
Peter Palframan 33,178,388 98.6 473,000 1.4
Neil J. F. Steenberg 33,178,388 98.6 473,000 1.4
Two nominees for election, Tom Obradovich and Jamie Levy were also elected as directors by a single
ballot in accordance with the proxies filed, subject to completion of Acquisition of Canadian Continental
Exploration Corp and the TSXV approval , such appointment to be effective as of the closing date the
Acquisition of Canadian Continental Exploration Corp. The detailed results of the proxies submitted for the
vote on the election of these two directors are as follows:
Director Votes For % of Votes For Votes Withheld % of Votes
Withheld
Tom Obradovich 33,648,388 99.9 3,000 0.01
Jamie Levy 33,648,388 99.9 3,000 0.01
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Re-Appointment of Auditors
McGovern Hurley LLP Chartered Professional Accountants were re-appointed as the Company's Auditors
for the current year and the directors were authorized to fix the remuneration of the Auditors.
Approval of the Corporation’s Stock Option Plan
By a single ballot in accordance with the proxies submitted, the Corporation’s Stock Option Plan was
ratified.
About Conquest
Conquest Resources Limited incorporated 1n 1945 is a mineral exploration company that is engaged in the
exploration of gold properties in Ontario.
Conquest owns 100% interest in the Golden Rose Project at Emerald Lake, in the Temagami mining camp,
located approximately 65 kilometers northeast of Sudbury, Ontario, underlain by highly prospective Abitibi
Greenstone geology along a strike length of 17 kilometers. The former Golden Rose Min e is located deep
within the regionally large, unexplained Emerald Lake (Temagami) Anomaly which closely resembles the
magnetic signature of the adjacent Sudbury Basin.
Conquest also owns a 100% interest in the Alexander Gold Property located immediately e ast of the Red
Lake and Campbell Mines in the heart of the Red Lake Gold Camp on the important “Mine Trend” regional
structure. Conquest’s property is almost entirely surrounded by Evolution Mines land holdings.
In addition, Conquest owns a 100% interest in the Smith Lake Gold Property which consists of six patented
claims and 181 staked mining claims to the north, west and south of the Renabie Gold Mine in Rennie
Township which had production of over 1,000,000 ounces of gold.
In July 2020, Conquest entered into a conditional agreement to acquire Canadian Continental Exploration
Corp. which holds an extensive package of mining claims which surrounds Conquests’ Golden Rose Mine
Project at Emerald Lake in the Temagami mining camp northeast of Sudbury, Ontario.
FOR FURTHER INFORMATION CONTACT:
John F. Kearney
Chairman
416-362-6686
Robert Kinloch
President
306-881-8296
Paul Smith
Senior Geologist
902-698-2662
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