Surge Copper Announces Results of Annual General Meeting
CAN: 41777323.2
PO Box 10351 888-700 West Georgia Street, Vancouver, BC, Canada, V7Y 1G5
www.surgecopper.com
TSX-V Trading Symbol: SURG
OTCQX: SRGXF
Frankfurt Trading Symbol: G6D2
Telephone: +1 (604) 781-5454
Email: [email protected]
September 23, 2022
NEWS RELEASE
Surge Copper Announces Results of Annual General Meeting
September 23, 2022, Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG)
(OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) is pleased to report that all
proposed resolutions were passed at its Annual General Meeting (the “ Meeting”), held on
September 21, 2022, via teleconference.
Shareholders voted in favour of setting the number of directors at 7, and re-elected the following
directors: Leif Nilsson, Shane Ebert, Christian Kargl -Simard, Richard Colterjohn, John Dorward,
James Pettit and Patrick Glazier.
Shareholders have also approved the Company’s new share comp ensation plan (the “ Share
Compensation Plan”), the issuance of restricted share units (“RSUs”) and deferred share units
(“DSUs”) and the re-appointment of DeVisser Gray LLP, Chartered Professional Accountants, as
auditors.
The Share Compensation Plan replaces the stock option plan previously adopted by the Company.
The Share Compensation Plan is a “rolling up to 10%” omnibus plan pursuant to which the total
number of common shares which may be issued pursuant to RSUs, stock options or DSUs
awarded or granted under the Share Compensation Plan, in the aggregate, is equal to a maximum
of 10% of the issued and outstanding common shares at the time of the award or grant. The Share
Compensation Plan was conditionally accepted, subject to final acceptance, by the TSX Venture
Exchange on August 11, 2022. The principal terms of the Share compensation Plan are
summarized in the management information circular filed in connection with the Meeting.
In accordance with Policy 4.4 of the TSX Venture Exchange, the Company obtained disinterested
shareholder approval to ratify, confirm and approve the grants or awards of 1,150,000 RSUs
(650,000 of which were granted with time-based vesting criterion, vest 1/3 after each 12, 24 and
36 months, and 500,000 of which were granted with performance-based vesting criterion, vest
after 36 months) and 750,000 DSUs (due to vest 12 months from the date of grant) on January
11, 2022 by the Company on the terms and conditions set forth in the Share Compensation Plan,
to the persons eligible to receive such RSUs and DSUs. This resolution was approved by a
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majority of votes cast by disinterested shareholders entitled to vote. A total of 22,488,709 common
shares held by the Company’s directors and officers were excluded.
We would also like to sincerely thank the Company’s shareholders for their continued strong
support.
About Surge Copper Corp.
The Company owns a 100% interest in the Ootsa Property, an advanced stage exploration project
containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit
Huckleberry Copper Mine, owned by Imperial Metals. The Ootsa Property contains pit constrained
NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and
Indicated categories.
The Company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg
is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits.
Berg contains pit constrained 43-101 compliant resources of copper, molybdenum, and silver in
the Measured and Indicated categories. Combined, the adjacent Ootsa and Berg properties give
Surge a dominant land position in the Ootsa -Huckleberry-Berg district and control over four
advanced porphyry deposits.
On Behalf of the Board of Directors
“Leif Nilsson”
Chief Executive Officer
For further information, please contact:
Riley Trimble, Corporate Communications & Development
Telephone: +1 604 416 2978
Email: [email protected]
Twitter: @SurgeCopper
LinkedIn: Surge Copper Corp
https://www.surgecopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This News Release contains forward-looking statements, which relate to future events. In some cases, you
can identify forward-looking statements by terminology such as "will", "may", "should", "expects", "plans",
or "anticipates" or the negative of these terms or other comparable terminology. All statements included
herein, other than statements of historical fact, are forward-looking statements, including but not limited to
the Company’s plans regarding the Berg Property and the Ootsa Property. These statements are only
predictions and involve known and unknown risks, uncertainties and other factors that may cause the
Company’s actual results, level of activity, performance, or achievements to be materially different from any
future results, levels of activity, performance, or achievements expressed or implied by these forward -
looking statemen ts. Such uncertainties and risks may include, among others, actual results of the
Company's exploration activities being different than those expected by management, delays in obtaining
or failure to obtain required government or other regulatory approvals , the ability to obtain adequate
financing to conduct its planned exploration programs, inability to procure labour, equipment and supplies
in sufficient quantities and on a timely basis, equipment breakdown, impacts of the current coronavirus
pandemic, and bad weather. While these forward-looking statements, and any assumptions upon which
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they are based, are made in good faith, and reflect the Company's current judgment regarding the direction
of its business, actual results will almost always vary, sometimes materially, from any estimates, predictions,
projections, assumptions, or other future performance suggestions herein. Except as required by applicable
law, the Company does not intend to update any forward-looking statements to conform these statements
to actual results.