Turmalina Metals Announces AGM Results
LEGAL_39544617.1
Thursday, August 18, 2022
Turmalina Metals Announces AGM Results
Vancouver, B.C. – Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX,
3RI-FSE) is pleased to announce voting results of its annual general meeting of shareholders (AGM) that
was held on August 12, 2022.
At the AGM, shareholders set the size of the board of directors at five and the following nominees were
elected:
James Rogers
Bryan Slusarchuk
Francisco Azevedo, Jr.
Laura Bastias
Latika Prasad
Shareholders also approved:
• The appointment of Davidson & Company LLP as the auditor of Turmalina Metals for the
ensuing fiscal year,
• Authorization for the directors to fix the remuneration paid to the auditor, and
• A resolution authorizing the new update of Turmalina Metal Corp.’s rolling stock option plan
(the “New Option Plan”).
The New Option Plan allows the board of directors to grant such number of stock options of the Company
up to 10% of the issued and outstanding common shares of the Company at the time of grant. The
Company adopted the New Option Plan in order to comply with recent amendments made to the TSX
Venture Exchange (the “TSXV”) policy governing security based compensation and include, among other
things:
• specific restrictions with respect to adjustments to security based compensation. Any adjustment
to stock options granted (except in relation to a consolidation or share split) is subject to the prior
acceptance of the TSXV;
• Investor Relations Service Providers may not receive any security based compensation other than
stock options; and
• allowing for option holders to exercise options on a “Cashless Exercise” or “Net Exercise” basis.
The Company has 6,520,000 stock options currently outstanding under the New Option Plan and 169,952
stock options remain available for grant. All options granted under the Company’s previous option plan
are now subject to the New Option Plan without any action required on the part of the option holders.
A copy of the New Option Plan was attached to the Circular, a copy of which was filed on SEDAR on July
19, 2022.
LEGAL_39544617.1
On Behalf of the Company,
James Rogers, Chief Executive Officer and Director
Email: [email protected]
Website: turmalinametals.com
Address: #488 - 1090 West Georgia St, Vancouver, BC V6E 3V7.
For Investor Relations enquiries, please contact Bryan Slusarchuk at +1 833 923 3334 (toll free) or via
Statements
About Turmalina Metals: Turmalina Metals is a TSXV-listed exploration company focused on developing our
portfolio of high grade gold-copper-silver projects in South America. Our focus is on tourmaline breccias, a deposit
style overlooked by many explorers. Turmalina Metals is led by a team respon sible for multiple gold-copper-silver
discoveries who are highly experienced in this deposit style. Our projects are characterised by open high -grade
mineralization in established mining and exploration areas that present compelling drill targets. The San Francisco
project is in Argentina. For further information on the San Francisco Project, refer to the technical report entitled
“NI43-101 Technical Report San Francisco Copper Gold Project, San Juan Province, Argentina” dated November 17,
2019 under the Corporation’s profile at www.sedar.com. The Chanape Project is in Peru. For further information
on the Chanape Project, refer to the technical report entitled “NI43 -101 Technical Report on the Chanape Gold-
Silver-Copper Project, San Damian District, Huarochiri Province, Peru” dated June 20, 2022.
Forward Looking Statement: This news release contains certain "forward-looking statements" within the meaning
of such statements under applicable securities law. Forward-looking statements are frequently characterized by
words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or
conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in
drawing the conclusions or making the projections contained in the forward -looking statements throughout this
news release. Forward-looking statements are based on the opinions and estimates of management at the date
the statements are made and are subject to a variety of risks (including those risk factors identified in the
Corporation’s prospectus dated November 21, 2019) and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the forward-looking statements. The Corporation is
under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward -looking
statements, whether as a result of new information, future events or otherwise, except as expressly required by
applicable law.
There is no assurance when the government-imposed measures related to COVID-19 in Argentina and Peru will be
lifted. There is uncertainty over the form and duration of government measures and multiple policy changes may
occur with regards to these measures over time. The Company may not provide updates on various government
measures and changes to these measures as they occur. Protocols related to COVID-19, and the effects of the
pandemic on service providers located throughout South America, may lead to delays in the future reporting of
results.