Treasury Metals Announces Voting Results from its Annual and Special Meeting of Shareholders
Press Release
TORONTO, June 26, 2024 – Treasury Metals Inc. (TSX: TML; OTCQX: TSRMF) (“Treasury Metals” or the “Company”) is pleased to announce that at its annual and special meeting of shareholders (the “Meeting”) held earlier today, the Company’s shareholders voted overwhelmingly in favour of certain matters relating to the proposed plan of arrangement involving the Company and Blackwolf Copper and Gold Ltd. (“Blackwolf”) pursuant to which the Company will acquire all of the common shares of Blackwolf (the “Arrangement”), as well as certain annual general matters.
A total of 77,138,926 common shares (“Shares”) were voted in person or represented by proxy at the Meeting, representing approximately 41.13% of the votes attached to all the outstanding Shares as at the record date of the Meeting.
| Resolution | Number of Shares | Percentage of Votes Cast | ||
| For | Withheld/Abstain | For | Withheld/Abstain | |
| Arrangement Share Issuance Issuance of up to 113,149,040 Shares as consideration for the Arrangement |
70,275,013 | 350,329 | 99.50 | 0.50 |
| Financing Share Issuance Issuance of up to 55,700,000 Shares in connection with the Company’s non-brokered private placement |
70,278,846 | 346,496 | 99.51 | 0.49 |
| Continuance Continuance of the Company out of Ontario and into British Columbia |
66,453,435 | 4,171,907 | 94.09 | 5.91 |
| Election of Non-Arrangement Directors (if the Arrangement is not completed): | ||||
| James Gowan | 69,881,236 | 744,106 | 98.95 | 1.05 |
| Jeremy Wyeth | 69,837,964 | 787,378 | 98.89 | 1.11 |
| Michele Ashby | 69,878,566 | 746,776 | 98.94 | 1.06 |
| Paul McRae | 69,852,045 | 773,297 | 99.91 | 1.09 |
| Margot Naudie | 66,011,838 | 4,613,504 | 93.47 | 6.53 |
| Christophe Vereecke | 69,878,306 | 747,036 | 98.94 | 1.06 |
| Approval of Non-Arrangement Incentive Plan Approval of new omnibus equity incentive plan if the Arrangement is not completed |
65,865,686 | 4,759,659 | 93.26 | 6.74 |
| Election of Arrangement Directors (effective upon completion of Arrangement): | ||||
| James Gowan | 69,892,877 | 732,465 | 98.96 | 1.04 |
| Michele Ashby | 69,892,065 | 733,277 | 98.96 | 1.04 |
| Andrew Bowering | 69,881,091 | 744,251 | 98.95 | 1.05 |
| Morgan Lekstrom | 69,876,790 | 748,552 | 98.94 | 1.06 |
| Robert McLeod | 69,814,874 | 810,468 | 98.85 | 1.15 |
| Paul McRae | 69,812,826 | 812,516 | 99.85 | 1.15 |
| Margot Naudie | 65,947,774 | 4,677,568 | 93.38 | 6.62 |
| Jeremy Wyeth | 69,855,789 | 769,553 | 98.91 | 1.09 |
| Approval of Arrangement Incentive Plan Approval of new omnibus equity incentive plan effective upon completion of the Arrangement and listing of Shares on the TSX Venture Exchange |
69,766,465 | 858,877 | 98.78 | 1.22 |
| Re-appointment of Auditors Re-appointment of RSM Canada LLP as auditors of the Company and authorization for the Board to fix their remuneration |
76,800,795 | 160,883 | 99.79 | 0.21 |
The report of voting results will be made available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
In addition to the approval by Treasury Metals shareholders, Blackwolf securityholders approved the Arrangement at the special meeting of Blackwolf securityholders held earlier today. The Arrangement is expected to be completed on or about July 3, 2024, subject to approval by the Supreme Court of British Columbia and satisfaction of certain other closing conditions.
For a more detailed description of the Arrangement, please refer to the Company’s management information circular dated May 27, 2024.
About Treasury Metals Inc.
Treasury Metals Inc. is a gold-focused company with assets in Canada. Its Goliath Gold Complex (which includes the Goliath, Goldlund and Miller deposits) is located in Northwestern Ontario. For information on the Goliath Gold Complex, refer to the technical report, prepared in accordance with NI 43-101, entitled “Goliath Gold Complex – NI 43-101 Technical Report and Prefeasibility Study” and dated March 27, 2023 with an effective date of February 22, 2023, led by independent consultants Ausenco Engineering Canada Inc. The technical report is available on SEDAR+ at www.sedarplus.ca, on the OTCQX at www.otcmarkets.com and on the Company website at www.treasurymetals.com.
Contact:
Jeremy Wyeth
President & CEOOrin
Baranowsky
CFO
Treasury Metals Inc.
T: +1 416-214-4654; Toll-free: +1-855-664-4654
Email: ir@treasurymetals.com
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