Steppe Gold Limited (TSX: STGO) – Financing & Company Update 1 TSX Symbol: STGO Total Basic Shares O/S (M): 41.5 MATTHEW WOOD Chairman, President and CEO BATAA TUMUR-OCHIR Director and Executive Vice President Mongolia ANEEL WARAICH
Steppe Gold Limited (TSX: STGO) – Financing & Company Update
1
TSX Symbol: STGO
Total Basic Shares O/S (M): 41.5
MATTHEW WOOD
Chairman, President and CEO
BATAA TUMUR-OCHIR
Director and Executive Vice President Mongolia
ANEEL WARAICH
Director and Executive Vice President
PATRICK MICHAELS
Director
DR. ZAMBA BATJARGAL
Director
LEWIS MARKS
Director
SHELDON VANDERKOOY
Director
CONTACT INFORMATION
THE COMPANY’S HEAD OFFICE:
Shangri-La office, Suite 1201, Olympic street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914
TORONTO OFFICE:
90 Adelaide Street. W, Suite 400 Toronto, ON
M5H 3V9,
Canada
Tel: +1 647 697 0577
TRANSFER AGENT:
Lori Winchester
Senior Relationship Manager, Client
Management
Phone: +1 416 607-7898
Cell: +1 416 671-4558
Email: [email protected]
Toronto, ON – Steppe Gold Limited (TSX: STGO) (the “Company” or “Steppe
Gold”) announces that further to its Annual General Meeting of Shareholders of
the Company held on June 28, 2019, director Lewis Marks has refused to tender
his resignation as a director in compliance with the Company’s Majority Voting
Policy. The Company’s Majority Voting Policy requires a director who receives
more “withhold” votes than “for” votes in the election of directors to
immediately tender his or her resignation as a director.
The Company is required to have a Majority Voting Policy under the rules of the
Toronto Stock Exchange. The Toronto Stock Exchange has stated that:
“Majority voting was introduced to improve corporate governance standards in
Canada by providing a meaningful way for security holders to hold individual
directors accountable. TSX believes that the Majority Vot ing Requirement
introduced on June 30, 2014 enhances transparency and improves the
governance dialogue between issuers, security holders and other stakeholders.”
As announced on June 28, 2019, at the AGM, Lewis Marks received 9,487,890
“for” votes (40.22%) and 14,103,590 “withhold” votes (59.78%) in his election
for director. Notwithstanding the results of the vote and the clear provisions of
the Company’s Majority Voting Policy and the rules of the TSX, Mr. Marks has
refused to tender his resignation.
The TSX has indicated to the Company that as a result of Mr. Mark’s refusal to
comply with the policy, the exchange may conduct a review of Mr. Marks’
suitability to be a director or officer of TSX or TSX Venture Exchange listed
companies.
Mr. Marks remains a director of the Company until such time as he tenders his
resignation, is removed as a director by shareholders or is not re-elected at the
next annual general meeting of the Company.
ABOUT STEPPE GOLD LTD.
Steppe Gold is a precious metals development company with an
aggressive growth strategy to build Steppe Gold into the premier precious
metals company in Mongolia. The Company owns 100% of the advanced
staged Altan Tsaagan Ovoo Gold Project where a heap leach development
is currently being completed.
CAPITALIZATION
BOARD OF DIRECTORS
TSX: STGO
July 8, 2019