Euromax Announces Results of Annual General Meeting
Euromax Announces Results of Annual
General Meeting
VANCOUVER, BC
,
June 26, 2023
/CNW/ - (TSX: EOX): ("
Euromax
" or the "
Company
") is pleased
to report that all resolutions proposed, as set out in the Notice of Meeting dated
18 May 2023
, were
duly passed at its Annual General Meeting held in
Skopje
, Republic of
North Macedonia
on
Monday,
June 26, 2023
.
At the Meeting, each of the individuals nominated by management for election as a director of the
Company were duly elected and the number of directors of the Company was fixed at eight (8) in
accordance with the Company's Articles. The results are as follows:
Name of Nominee
Vote For
% ¹
Tim Morgan-Wynne
308,082,872
98.98 %
Ali Vezvaei
308,087,872
98.98 %
Nicolas Treand
308,087,872
98.98 %
Martyn Konig
308,095,031
98.98 %
James Burke
308,095,031
98.98 %
Ivan Vutov
308,087,872
98.98 %
Stanislav Delchev
308,090,031
98.98 %
Patrick Forward
308,082,872
98.98 %
¹ out of 311,270,579 registered votes that vote for proposed nominees
Re-Appointment of Auditors
BDO LLP were re-appointed as auditors of the Company, to hold office until the next annual general
meeting of Shareholders, and the directors were authorized to fix their remuneration.
Approval of the amended the Company's Restricted Share Unit plan ("RSU Plan")
The proposed increase of the RSU Plan's limit to 49,001,332 common shares was approved.
The Board & Management wishes to express its thanks to all shareholders for their support.
Board Appointments
The Company further announces that the following members have been appointed to the Board
Committees:
Audit Committee
Stanislav Delchev
(Chair),
James Burke
,
Martyn Konig
and Ali Vezvaei;
Compensation Committee
Martyn Konig
(Chair), Ali Vezvaei and
James Burke
;
Technical Committee
Greg Morris
(Chair),
Tim Morgan-Wynne
and
Patrick Forward
.
Notice for eligibility for continued listing on Toronto Stock Exchange ("TSX")
The Company also announces that it has received notice from the TSX that the TSX is reviewing the
eligibility for continued listing of the Company's securities pursuant to Part VII of the
TSX Company
Manual
. Specifically, the TSX is reviewing the continued listing criteria outlined in sections 709,
710(a)(i) (financial conditions and/or operating results), section 710(c)(i) (minimum required
expenditures of
C$350,000
on exploitation and/or development work or
C$3 million
from sale of
commodities in the most recent year), section 710(c)(ii) (applicable working capital and appropriate
capital structure) and section 716 (management deficiencies or corporate governance). The
Company is being reviewed under the Remedial Review Process and has been granted 120 days to
comply with all requirements for continued listing. If the Company cannot demonstrate that it meets
all TSX requirements set out in Part VII of the Manual on or before October 20, 2023, the
Company's securities will be delisted 30 days from such date. The Company will examine whether
the TSX Venture Exchange would be a more appropriate exchange for the listing of its securities.
Appointment of Chief Executive Officer ("CEO")
Tim Morgan-Wynne
, who is acting as Executive Chairman, has been appointed as CEO of the
Company. This appointment satisfies one of the above outlined criteria for the TSX review on the
eligibility for continued listing of the Company, i.e. section 716 (management deficiencies or
corporate governance).
About Euromax Resources Ltd.
Euromax has a major development project in
North Macedonia
and is focused on building and
operating the Ilovica-Shtuka gold-copper project.
Forward-Looking Information
This news release contains statements that are forward-looking, such as those relating to the
Company's potential courses of action in response to recent decisions by agencies of the
government of
North Macedonia
, including potential legal appeals to other courts of applicable
jurisdiction in
North Macedonia
or the pursuit of international arbitration processes; the results of
any such appeals or legal processes that may be pursued by the Company, if any; any future
decisions, whether by way of appeal or otherwise, of any agency of the government of
North
Macedonia
or of any court of applicable jurisdiction; whether or not any decision of any agency of
the government of
North Macedonia
or of any court of applicable jurisdiction would be favourable
to the Company's interests; whether or not any decision of an agency of the government of
North
Macedonia
or of any court of applicable jurisdiction that was favourable to the Company's interests
would be implemented by applicable government authorities or could otherwise be enforced by the
Company; potential investments in the Ilovica-Shtuka Project, with or without the support of any of
the Company's current or future third-party investors; the potential impact of any investment by the
Company or any third-party investor on the development of the Ilovica-Shtuka Project; the effect of
the development of the Ilovica-Shtuka Project on the economy of
North Macedonia
, including the
number of jobs which may be produced in connection therewith; the results of operations and
financial condition of the Company; permitting and licensing matters related to the Ilovica-Shtuka
Project; capital spending by the Company; financing sources available to the Company, including
from any current or future third-party investors in the Company; commodity prices; mineral
resources; and property evaluation plans and programmes. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project", "intend", "believe",
"anticipate" and other similar words, or statements that certain events or conditions "may" or "will"
occur. Forward-looking statements are based on the opinions and estimates of management at the
dates the statements are made, and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from those projected in the
forward-looking statements. This information is qualified in its entirety by cautionary statements
and risk factor disclosure contained in filings made by the Company, including its annual
information form for the year ended
December 31, 2022
and financial statements and related
MD&A for the financial years ended
December 31, 2022
and 2021, and the unaudited condensed
consolidated interim financial statements for the three months ended
March 31, 2023
and 2022
along with the accompanying MD&A, filed with the securities regulatory authorities in certain
provinces of
Canada
and available on SEDAR. The forward-looking statements contained in this
document are as of the date of this document, and are subject to change after this date. Readers
are cautioned that the assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. Euromax disclaims any intention or
obligation to update or revise any forward looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.
SOURCE
Euromax Resources
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http://www.newswire.ca/en/releases/archive/June2023/26/c9495.html
%SEDAR: 00009131E
For further information:
For more information, please visit www.euromaxresources.com or
contact: Tim Morgan-Wynne, Executive Chairman, +44 20 3918 5160,
CO: Euromax Resources
CNW 17:00e 26-JUN-23