Canstar Announces New Independent Director and Results of Shareholders’ Meeting
220 Bay Street
Suite 550
Toronto, ON M5J 2W4
TSX-V: ROX
OTCPK: CSRNF
www.canstarresources.com
Canstar Announces New Independent Director and Results of
Shareholders’ Meeting
Toronto, Ontario – December 1 , 2021 – CANSTAR RESOURCES INC. (TSXV: ROX &
OTCPK:CSRNF) (“Canstar” or the "Company"), is pleased to announce that Jacqueline Allison
has been elected as an independent dire ctor to the Canstar board of directors (the “Board”),
subject to TSX Venture Exchange (“TSXV”) acceptance. In addition, the Company announces
that shareholders of the Company (“Shareholders”) approved the creation of 2176423 Ontario
Ltd., a corporation beneficially owned by Eric Sprott, as a new Control Person (as such term is
defined in the policies of the TSXV) of the Company . The Company received approval from
99.96% of disinterested Shareholders at the 2021 Annual and Special Meeting of Shareholders
(“Meeting”), which was held on November 29, 2021, in Toronto, Canada. Shareholder approval
was also received for adoption of an advance notice by-law (“Advance Notice By -Law”) with
99.68% approval, appointment of auditors (99.99% approval) and re-approval of the Company’s
stock option plan (99.20% approval).
Ms. Allison has more than 20 years of experience at major institutions in the fields of mineral
economics, financial analysis, investment management and investor relations. She previously
held the position of VP Investor Relations and Strategic Analysis at the Augusta Group of
Companies, and served in similar senior executive roles at Dominion Diamond Corp. and Hudbay
Minerals Inc. Prior to that, she was a VP and Research Analyst at a number of investment
management firms, including BMO Asset Management Inc. where she also served as Research
Director.
Ms. Allison is the Chair of the Management and Economics Society of the Canadian Institute of
Mining, Metallurgy and Petroleum ( “CIM”), a Trustee of the CIM Foundation, and a Corporate
Director at Laramide Resources Ltd . and a number of private companies . She holds a PhD in
Mineral Economics and an MSc (Applied) in Mineral Exp loration from McGill University, as well
as Professional Geoscientist (Ontario) and Chartered Financial Analyst designations.
Dennis Peterson and David Palmer, previous directors of the Company, did not stand for re -
election at the Meeting due to other time commitments. Dr. Palmer will continue to serve as a
Technical Advisor of the Company. The Company wishes to thank Mr. Peterson and Dr. Palmer
for their many years of dedication as directors of Canstar . The Board is now comprised of
Jacqueline Allison, Robert Bruggeman, Neil Burns, James Clare, and Sam Leung. All directors
received over 99.9% approval from Shareholders at the Meeting.
Rob Bruggeman, President & CEO, commented: “ We are delighted to welcome Jacqueline to
Canstar’s board of directors, given her diverse experience in the mining sector. With her addition,
we have assembled an impressive board with extensive technical, legal, governance, corporate
development and finance expertise. In addition, we continue to appreciate the ongoing support
from our three seasoned technical advisors – Dr. David Pa lmer, Dr. Laurie Curtis, and Dr.
Lawrence Winter.”
Jacqueline Allison stated: “This is an exciting time to be exploring in Newfoundland, and Canstar’s
large and underexplored land package offers attractive resource potential. I look forward to
working with Rob, the rest of the board and our advisors as the team advances the exploration
program to deliver on this potential.”
Mr. Bruggeman continued: “I would also like to thank our shareholders for approving 2176423
Ontario Ltd., a corporation beneficially owned by Eric Sprott, as a new Control Person of the
Company. Mr. Sprott has a tremendous investment track record in the p recious metals sector
and he was one of the first major investors to recognize the orogenic gold potential in central
Newfoundland. Canstar is very pleased to have Mr. Sprott as its largest shareholder.”
The Board adopted the Advance Notice By-Law on October 18, 2021 (the "Advance Notice By-
Law") and it was ratified at the Meeting. The purpose of the Advance Notice By-law is to provide
shareholders, the board and management of the Company with guidance for the advance notice
of the nomination of directors by Shareholders. The Advance Notice By-law is the framework by
which the Company seeks to ensure that shareholders seeking to nominate a candidate to the
board must provide timely notice in proper form to the Company in advance of any annual general
meeting or special meeting of shareholders where directors are up for election.
Notice will be considered timely if (a) in the case of an annual general meeting of shareholders, it
is provided not less than thirty (30) days and not more than sixty -five (65) days prior to the date
of the meeting; provided, however, that in the event the annual general meeting is called for a
date that is less than fifty (50) days after the date (the “Notice Date ”) on which the first public
announcement of the meeting was made, notice by a nominating shareholder may be made not
later than the tenth (10th) day following the Notice Date; and (b) in the case of a special meeting
(which is not also an annual general meeting) called for the purpose of electing directors, not later
than the fifteenth (15th) day following the Notice Date.
The advance notice provisions will provide the Company with adequate prior notice of director
nominations, as well as suffici ent information on the nominees, allowing it to evaluate any
proposed nominees’ qualifications and to communicate its views to shareholders in a timely
fashion. It will also facilitate an orderly and efficient meeting process and allow all shareholders a
reasonable opportunity to evaluate all proposed nominees in order that they be able to make an
informed vote.
A copy of the Advance Notice By-Law has been filed under the Company's profile on SEDAR at
www.sedar.com.
About Canstar Resources Inc.
Canstar Resources is a Canadian -based company with a strong technical team that is focused
on mineral exploration in Newfoundland, Canada. The C ompany’s flagship exploration project,
Golden Baie Project, consists of a large claim package (62,175 hectares) with multiple
outcropping gold occurrences on a major structural trend in south Newfoundland that is
prospective for high-grade orogenic gold mineralization. The Company also holds the Buchans -
Mary March project and other mineral exploration properties in Newfoundland. Canstar
Resources is listed on the TSX Venture Exchange under the symbol ROX and trades on the
OTCPK under the symbol CSRNF.
For further information, please contact:
Rob Bruggeman, President & CEO
Email: [email protected]
Phone: 1-647-247-8715
Website: www.canstarresources.com
Cautionary Statement
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.
This News Release includes certain “forward -looking statements” which are not comprised of
historical facts. Forward looking statements include estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the effect that the Company or
management expects a stated condition or res ult to occur. Forward looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,
“would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address
future events and conditions, by their very nature they involve inherent risks and uncertainties.
Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Risks,
uncertainties and other factors involved with forward -looking information could cause actual
events, results, performance, prospects and opportunities to differ materially from those
expressed or implied by such forward -looking information. For ward looking information in this
news release includes, but is not limited to, the Company’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and
estimates of market conditions. Factors that could cause actual results to differ materially from
such forward -looking information include, but are not limited to failure to identify mineral
resources, failure to convert estimated mineral resources to reserves, the inability to complete a
feasibility study which recommends a production decision, the preliminary nature of metallurgical
test results, delays in obtaining or failures to obtain required governmental, environmental or other
project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other
indigenous peoples, uncertainties relating to the availability and costs of financing needed in the
future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity
prices, delays in the development of projects, capital and operating costs varying significantly
from estimates and the other risks involved in the mineral exploration and development industry,
an inability to predict and counteract the effects of COVID -19 on the business of the Company,
including but not limited to the effects of COVID -19 on the price of commodities, capital market
conditions, restriction on labour and international travel and supply chains, and those risks set out
in the Company’s public documents filed on SEDAR. Although the Company believes that the
assumptions and factors used in preparing the forward -looking information in this news release
are reasonable, undue reliance should not be placed on such information, which only applies as
of the date of this news release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. The Company disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information, future events or
otherwise, other than as required by law.