Iemr Announces Results of AGM and News Officers
IEMR RESOURCES INC.
1500 West Georgia Street, Suite 1300 Vancouver, British Columbia V6G 2Z6
TSXV: IRI May 13, 2016
IEMR ANNOUNCES RESULTS OF AGM AND NEWS OFFICERS
(Vancouver, May 13, 2016) – IEMR Resources Inc. (TSXV: IRI) (the "Company" or "IEMR) is pleased to announce the results of its annual general meeting held on May 9, 2016 (the "Meeting"). The shareholders voted in favour of all items of business put forth at the Meeting.
The complete voting results for each item of business at the Meeting are as follows:
ELECTION OF DIRECTORS
The number of directors of the Company to be elected at the Meeting was fixed at five. Each of the five nominees listed in the Company's Management Information Circular dated April 4, 2016 were elected as a director of IEMR and comprised incumbent directors Charles Yuen and Natalie Ni Shi and new directors Zheng Fu, Xiaotong Fu and Zhichao Chen.
APPOINTMENT OF AUDITORS
Manning Elliot LLP, Chartered Professional Accountants, was re-appointed as IEMR's auditor until the next annual general meeting.
2015 STOCK OPTION PLAN
Shareholders approved the Company’s Stock Option Plan which the Company will file with the TSX Venture Exchange (the “Exchange”) for its approval pursuant to Exchange policies.
NEW CONTROL PERSON
Disinterested shareholders approved the creation of Zheng Fu and his 100%-owned company IEMR Group Limited ("IEMR Group") as a new 'Control Person' of the Company, as such term is defined in the policies of the Exchange. The votes attached to the common shares held by IEMR Group, Zheng Fu and their associates were excluded from the calculation of such approval. The then Chief Executive Officer Hongxue Fu, his wife and their company Energy & Mineral Resources Investment (Hong Kong) Company Limited ("IEMR HK") are all associates of Zheng Fu and IEMR Group and their votes were also excluded.
ACQUISITION OF CUMO SHARES FROM IEMR HK
Disinterested shareholders approved the acquisition of 9,000,000 common shares of American CuMo Mining Corporation from IEMR HK. The votes attached to the common shares held by IEMR HK, Hongxue Fu, his wife and their associates were excluded from the calculation of such approval. Zheng Fu and IEMR Group are both associates of IEMR HK and Mr. and Mrs. Fu and their votes were also excluded.
APPOINTMENT OF OFFICERS
Following the Meeting, Hongxue Fu resigned as the Company's Chief Executive Officer and the board of directors appointed Charles Yuen as interim Chief Executive Officer and Zheng Fu as President. The
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Company would like to thank Hongxue Fu for his financial support and valuable contributions over the past years towards the fulfillment of IEMR's goals and objectives.
About IEMR Resources Inc.
IEMR is a junior mining company listed on the TSX Venture Exchange under the symbol “IRI”. The Company is directly tied to and has been formed from capital sources in China and Canada. IEMR is devoted to taking full advantage of its capital by participating in mineral and energy projects ranging from exploration, development, production, processing, smeltering and mineral trade with a long-term view. The Company’s emphasis is on the Chinese and Canadian markets utilizing the capital stemming from China and the resources and market of Canada to create a maximum return for shareholders. The Company’s investment priorities ranked in order are copper, chromium, nickel, manganese, uranium, platinum silver, diamonds and molybdenum. Investment and or acquisitions in exploration projects will be focused in chromium, manganese, uranium and potash. The Company has already formed alliances of cooperation with large smeltering steel, copper, lead, zinc and aluminum companies.
For further information on IEMR, please refer to the Company’s profile on SEDAR at www.sedar.com or the Company’s website at www.iemr-resources.com.
On behalf of the Board of Directors of
IEMR RESOURCES INC.
/s/"Charles Yuen"
Charles Yuen Chief Financial Officer and Interim Chief Executive Officer
For further information, contact:
Charles Yuen Chief Financial Officer and Interim Chief Executive Officer IEMR Resources Inc.
Tel: (604) 877-8563 Email: [email protected] Website: www.iemr-resources.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" including but not limited to statements with respect to IEMR’s plans, the estimation of a mineral resource and the success of exploration activities. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; closing of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although IEMR has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
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statements 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 statements. IEMR undertakes no obligation or responsibility to update forward-looking statements, except as required by law.