Erdene Announces Results of Annual and Special Meeting of Shareholders and Appointment of Mongolian Executives
TSX: ERD | MSE: ERDN
www.erdene.com [email protected]
ERDENE ANNOUNCES RESULTS OF
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS AND
APPOINTMENT OF MONGOLIAN EXECUTIVES
Press Release
Halifax, Nova Scotia
2023.06.23
Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or
the “Company”) is pleased to announce its shareholders voted in favour of all items of
business brought before them at the Company's Annual and Special Meeting of
Shareholders (“Meeting”) held on June 22, 2023 in Halifax, Nova Scotia. Details of the
Meeting are provided below.
Additionally, the Company is pleased to announce the appointment of executives to its
primary Mongolian subsidiary, Erdene Mongol LLC (“Erdene Mongol").
Appointment of Board and Executive
At the Meeting, shareholders voted in favour of Erdene management’s nominees to the
board of directors, with details of the proxy voting results as follows:
Nominee Votes For % For Votes Against % Against
Peter C. Akerley 202,962,603 99.67 663,285 0.33
Dr. Anna G. Biolik 202,962,603 99.67 663,285 0.33
John P. Byrne 202,354,603 99.38 1,271,285 0.62
T. Layton Croft 202,962,603 99.67 663,285 0.33
Kenneth W. MacDonald 202,362,603 99.38 1,263,285 0.62
Cameron McRae 202,962,603 99.67 663,285 0.33
David V. Mosher 202,962,603 99.67 663,285 0.33
Hedley Widdup 202,844,603 99.62 781,285 0.38
Following the Meeting, Erdene’s board of directors appointed its officers for the coming
year, namely: President and Chief Executive Officer – Peter Akerley; Chairman of the
Board – T. Layton Croft; Chief Financial Officer – Robert Jenkins; and Corporate
Secretary – Suzan Frazer.
Additionally, Erdene Mongol LLC has appointed Bilguun Ankhbayar as Chief Executive
Officer and Jon M. L. Lyons as Chief Development Officer.
Having served as Erdene’s Vice President Business Development since 2015, Mr.
Ankhbayar is a seasoned executive with North American and Mongolian experience.
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www.erdene.com [email protected]
Since returning to Mongolia from Canada in 2010, Bilguun has held the roles of CEO of
Monrud LLC, a full service logistics and mine support management firm, and CEO of
Mongolian Investment Banking Group, a domestic investment dealer, assisting TSX and
ASX listed companies in financing and in a general advisory capacity. Earlier in his career,
Bilguun was employed in the investment banking division of Toll Cross Securities, a
Toronto based boutique investment bank. Bilguun graduated from Saint Mary’s University,
Canada with Bachelor of Commerce specializing in Finance, and is a CFA Charterholder.
Prior to his appointment as Chief Development Officer, Jon has been employed as
Erdene’s Vice President Projects since 2021, with responsibility for the overall delivery of
the company’s projects within scope, budget, and schedule aligned to the business case
and the Company’s vision for safety and sustainability. Previously, he led the government
permitting processes required to advance Erdene’s mineral exploration and mining
projects and maintained oversight of Health, Safety, Environment, and Community
Relations performance for the Company. Jon has lived and worked in Mongolia and the
region, including a previous posting with Erdene, since 2001. Jon holds an MBA from
Maastricht University and the EuroMBA consortium and a B.A. (summa cum laude) in
physics and anthropology from Wheaton College, Massachusetts. Mr. Lyons is fluent in
Mongolian and Russian languages.
Auditor Re-Appointed
KPMG LLP was re-appointed Auditor of the Company to hold office until the next Meeting
or until its successor is duly appointed, and the directors were authorized to fix the
Auditor’s remuneration.
Approval of Omnibus Equity Incentive Plan
Shareholders approved the omnibus equity incentive plan (“Omnibus Plan”), subject to
final approval of the Toronto Stock Exchange (“TSX”). The Omnibus Plan, if approved by
the TSX, will replace the legacy incentive stock option plan and the legacy deferred share
unit plan, and no further awards will be granted under the legacy plans.
Approval of Continuance of the Shareholder Rights Plan
At the Meeting, shareholders approved the continuance of the shareholder rights plan
(“Rights Plan”). The Rights Plan was adopted by Erdene’s board of directors to ensure
the fair treatment of shareholders in connection with any takeover offer for the Company.
Under the terms of the Rights Plan, the shareholders of Erdene must affirm the Rights
Plan every three years.
About Erdene
Erdene Resource Development Corp. is a Canada-based resource company focused on
the acquisition, exploration, and development of precious and base metals in
underexplored and highly prospective Mongolia. The Company has interests in three
TSX: ERD | MSE: ERDN
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mining licenses and an exploration license in Southwest Mongolia, where exploration
success has led to the discovery and definition of the Khundii Minerals District. Erdene
Resource Development Corp. is listed on the Toronto and the Mongolian stock exchanges.
Further information is available at www.erdene.com. Important information may be
disseminated exclusively via the website; investors should consult the site to access this
information.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute forward-looking
statements within the meaning of applicable securities laws. Forward-looking statements
may include estimates, plans, expectations, opinions, forecasts, projections, guidance or
other statements that are not statements of fact. Although Erdene believes that the
expectations reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to have been correct. Erdene cautions that
actual performance will be affected by a number of factors, most of which are beyond its
control, and that future events and results may vary substantially from what Erdene
currently foresees. Factors that could cause actual results to differ materially from those
in forward-looking statements include the ability to obtain required third party approvals,
market prices, exploitation and exploration results, continued availability of capital and
financing and general economic, market or business conditions. The forward -looking
statements are expressly qualified in their entirety by this cautionary statement. The
information contained herein is stated as of the current date and is subject to change after
that date. The Company does not assume the obligation to revise or update these
forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE
CONTENTS OF THIS RELEASE
Erdene Contact Information
Peter C. Akerley, President and CEO, or
Robert Jenkins, CFO
Phone: (902) 423-6419
Email: [email protected]
Twitter: https://twitter.com/ErdeneRes
Facebook: https://www.facebook.com/ErdeneResource
LinkedIn: https://www.linkedin.com/company/erdene-resource-development-corp-/
YouTube: https://www.youtube.com/channel/UCILs5s9j3SLmya9vo2-KXoA