Laurion Announces Voting Results FOR Its Annual and Special Meeting of Shareholders
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LAURION ANNOUNCES VOTING RESULTS FOR ITS
ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION
IN THE UNITED STATES.
TORONTO, ONTARIO - (July 12, 2019) – Laurion Mineral Exploration Inc. (TSX.V: LME and
OTCPINK: LMEFF) (“ LAURION” or the “Corporation”) is pleased to announce the voting
results of the Annual and Special Meeting of S hareholders of the Corporation that was
held on July 11, 2019 (the “Meeting”).
Election of Directors
Each of the nominees for election as directors listed in the Corporation’s management
information circular dated May 31, 2019 (the “Circular”) were elected as directors of
the Corporation for the ensuing year or until their successors are elected or appointed.
Despite such elections, since Dr. Neil Westoll received a greater number of votes
“WITHHELD” than votes “FOR” at the Meeting, he has ten dered his resignation to the
Chair of the board of directors (the “ Board”). Although issuers listed on the TSX Venture
Exchange (the “TSX-V”) are not required to adopt a majority voting policy requiring the
tendering of a resignation in such circumstances , the Board will consider Dr. Westoll’s
offer of resignation and also the candidates who are best suited to fill any vacancies on
the Board. Taking into account good governance practices and the interests of the
Corporation and its stakeholders, the Board will make its decision on whether to accept
his offer of resignation as soon as practical following a thorough review of the
circumstances which led to the offer.
Other Items of Business Considered at the Meeting
Each of the following resolutions voted on at the Meeting were also passed:
Fixing the number of directors of the Corporation (and the number of directors to
be elected at the Meeting) at five.
The reappointment of RSM LLP as auditors of the Corporation for the ensuing
year and the authorization of the directors of the Corporation to fix their
remuneration and the terms of their engagement.
The approval and ratification of the renewal of the Corporation’s rolling stock
option plan.
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The approval of the issuance of 1,467,008 common shares of the Corporation to
a certain member of management in exchange for the settlement of certain
debts of the Corporation (the “Shares for Debt Transaction”).
Notwithstanding the approval by the shareholders of the Corporation, the Shares for
Debt Transaction remains subject to approval by the TSX-V.
For further details regarding the matters considered at the Meeting, please refer to the
Circular, which can be found under the Corporation’s profile on SEDAR at
www.sedar.com.
About LAURION
The Corporation is a junior mineral exploration and development company listed on the
TSX-V under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION
now has 153,850,084 outstanding shares of which 62 .41% are owned and controlled by
Insiders and within the “friends and family” category.
LAURION’s emphasis is on the development of its flagship project, the 100% owned mid -
stage 44 km 2 Ishkoday Project, and its gold -silver and gold -rich polymetallic
mineralization with a significant upside potentia l. The Ishkoday Project has a project -
wide database (2008 to 2018) that includes 283 diamond drill holes totaling 40,729 m,
geological mapping, ground geophysics, and 14,992 individual samples with assays
and geochemical analysis. The mineralization on the Ishkoday is open at depth beyond
the current core-drilling limit of -200 m from surface, based on the historical mining to a -
685 m depth, as evidenced in the past producing Sturgeon River Mine.
FOR FURTHER INFORMATION, CONTACT:
Laurion Mineral Exploration Inc.
Cynthia Le Sueur-Aquin – President and CEO
Tel: 1-705-788-9186
Fax: 1-705-805-9256
Website: http://www.laurion.ca
Caution Regarding Forward-Looking Information
This press release contains forward -looking statements, which reflect the Corporation’s current
expectations regarding future events, including with respect to LAURION’s business, operations
and condition, and management's objectives, strategies, beliefs a nd intentions. The forward -
looking statements involve risks and uncertainties. Actual events and future results, performance
or achievements expressed or implied by such forward -looking statements could differ materially
from those projected herein includi ng as a result of a change in the trading price of the
common shares of LAURION, the TSX -V not providing its approval for the Shares for Debt
Transaction, the interpretation and actual results of current exploration activities, changes in
project parameter s as plans continue to be refined, future prices of gold and/or other metals,
possible variations in grade or recovery rates, failure of equipment or processes to operate as
anticipated, the failure of contracted parties to perform, labor disputes and othe r risks of the
mining industry, delays in obtaining governmental approvals or financing or in the completion of
exploration, as well as those factors disclosed in the Corporation’s publicly filed documents.
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Investors should consult the Corporation’s ongoin g quarterly and annual filings, as well as any
other additional documentation comprising the Corporation’s public disclosure record, for
additional information on risks and uncertainties relating to these forward -looking statements.
The reader is cautioned not to rely on these forward -looking statements. Subject to applicable
law, the Corporation disclaims any obligation to update these forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS
DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.