Announces Results of Annual General and Special Shareholders Meeting
AC/9286914.1
Torr Metals
Inc.
1111 West Hastings Street
,
Suite
780
Vancouver, BC
C
anada
,
V6E 2J3
TORR
ANNOUNCES RESULTS OF ANNUAL GENERAL
AND SPECIAL SHAREHOLDERS MEETING
Vancouver, British Columbia
–
March 14, 2023
.
Torr Metals
Inc. (the "
Company
") (TSX
-
V:
TORR
)
T
he Company is pleased to announce the approval
of
all matters proposed to its shareholders pursuant to its
management information circular dated
February 7, 2023
(the "Circular") at its annual general and special meeting
(the "Meeting") held earlier today. At the Meeting, the shareholders elected
Malcolm
Dorsey
,
Sean Mager
,
Ewan
Webster
, Nicholas Stajduhar, and
John Williamson
as directors of the Company, appointed MS Partners LLP as
auditors for the ensuing year and authorized the directors to set their remuneration, approved the Company's 10%
rolling stock option plan ("Option Plan"), and approved the Company's restricted sha
re unit plan ("RSU Plan"), all
of which are more particularly described in the Circular.
The previous 10% rolling stock option plan of the Company was approved by the Company's shareholders on
February 10, 2022,
and the Option Plan
and the RSU Plan were
up
dated in accordance with the policies of the TSX
Venture Exchange (the
"Exchange") and adopted by the board of directors effective
February 7, 2023
, subject to
approval of the shareholders and the Exchange. The maximum number of common shares which may be
issued
under the Option Plan is 10% of the Company's issued and outstanding common shares (the "Shares") as of the
date of grant.
The maximum number of restricted share units ("RSUs") that may be granted under the RSU
Plan shall not exceed
3,593,129
Shares
, and each RSU entitles the holder, subject to vesting of at least one
year from the date of grant and any such other conditions as the directors may determine, to receive one
Share. The maximum aggregate number of Shares issuable to insiders of the Compan
y (as a group) under
the Option Plan and RSU Plan shall together collectively not exceed 10% of the issued and outstanding
number of Shares.
A copy of each of the Option Plan and the RSU Plan was appended to the Circular and
is available under the Company'
s profile on SEDAR.
Contact Information
For
further
information
concerning this press release, please contact
Malcolm Dorsey, President, Chief
Executive Officer, and Director
of
Torr Metals Inc.
at:
Telephone: 236
-
982
-
4300
Email:
malcolmd
@
torrmetals
.com
Ca
utionary Statement
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has
neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the
Exchange) has in any way
passed upon the merits of the
Amalgamation
and neither of the foregoing entities
accepts responsibility for the adequacy
or accuracy of this release or has in any way approved or
disappro
ved of the contents of this press release.
Certain statements contained in this press release constitute forward
-
looking information. These statements
relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”,
“
believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters
that are not historical facts are intended to identify forward
-
looking information and are based on the
parties’ current belief or assumptions as to the o
utcome and timing of such future events. Actual future
-
2
-
AC/9286914.1
results may differ materially. The business of the
Company
is subject to a number of material risks and
uncertainties. Please refer to the SEDAR filings
of the Company
for further details. Various assu
mptions
or factors are typically applied in drawing conclusions or making the forecasts or projections set out in
forward
-
looking information. Those assumptions and factors are based on information currently available
to the parties. The material factors a
nd assumptions include the parties being able to obtain the necessary
corporate, regulatory and other third parties approvals. The forward looking information contained in this
release is made as of the date hereof and the parties are not obligated to upda
te or revise any forward
looking information, whether as a result of new information, future events or otherwise, except as required
by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein,
investors should not p
lace undue reliance on forward looking information. The foregoing statements
expressly qualify any forward looking information contained herein.
(Not for dissemination in the United States of America.)