Medallion Resources Announces Results of Annual General and Special Meeting of Shareholders
Medallion Resources Announces Results of Annual General and Special
Meeting of Shareholders
VANCOUVER, British Columbia, May 27, 2022 -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt:
MRDN – “Medallion” or the “Company”) is pleased to announce that shareholders have approved all resolutions put forth
at the Annual General and Special Meeting of Shareholders (the “Shareholders’ Meeting”) held in Vancouver, BC, on May 27,
2022.
In the annual meeting, 34.86% of the eligible shares were represented and all motions put forward by the Company were
passed.
The number of directors of the Company was fixed at six and Mark Saxon, Rod McKeen, David Shaw, Andrew Morden, Gabriel
Alonso-Mendoza and Kurt Forrester were elected as directors of the Company to hold office until the next annual general
meeting.
Davidson LLP was re-appointed as auditors of the company and the board is authorized to fix the remuneration to be paid to
the auditors.
95.4% of the Medallion shareholders other than directors, who were not eligible to vote, voted in favor of the Up-Listing
Resolution authorizing the Company to proceed with its plans to list on the Nasdaq Capital Market (“NasdaqCM”) and, at the
board’s discretion, delist from the Tier 2 of the TSX Venture Exchange. 100% of all shareholders voted in favor of a share
consolidation at a consolidation ratio sufficient to meet the Initial Listing Requirements of NasdaqCM, namely a US$4.00 per
share minimum bid price, up to a maximum consolidation ratio of 90 pre-consolidation shares for each post-consolidation
share.
“Today’s result in support of the Company’s new Strategic Plan outlined in our news release dated April 26, 2022 is an
important step towards listing on Nasdaq and strengthening the management team to commercialize Medallion’s rare earth
element processing technologies and establish other technologies to support the clean energy transition,” Mark Saxon,
President & CEO stated.
About Medallion Resources
Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related
business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a
rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore,
Medallion has recently licensed an innovative REE separation technology from Purdue Research Foundation which can be
utilized by Medallion and sub-licensed by Medallion to third party REE producers.
REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense
systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral
transportation, processing and the safe management of waste materials. Medallion utilizes Life Cycle Assessment
methodology to support investment and process decision making.
More about Medallion can be found at medallionresources.com .
Contact(s):
Mark Saxon , President & CEO
+1.604.681.9558 or [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Medallion management takes full responsibility for the content of and has prepared this news release. Some of the
statements contained in this release are forward-looking statements, such as statements that describe Medallion’s plans with
respect to general strategic matters and the advancement of its business plan, and Medallion’s ability to advance and
commercialize its technology platforms and negotiate commercial agreements with third parties.
Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes,"
"intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or statements that events,
conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words.
Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and
uncertainties, including the risks related to market conditions and regulatory approval and other risks outlined in the
Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from
those currently anticipated in these statements. These forward-looking statements are made as of the date of this press
release, and, other than as required by applicable securities laws, Medallion disclaims any intent or obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, except
as required pursuant to applicable laws.
This release is neither an offer to sell, nor the solicitation of an offer to buy, the Company’s securities in the U.S.. Any such
offer or solicitation can only be made by means of a prospectus, which forms a part of the Company’s registration statement
filed with the U.S. Securities and Exchange Commission on Form F-1:
https://www.sec.gov/Archives/edgar/data/0001370496/000149315222013128/formf-1.htm.