TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Angus Mining Inc. ("Angus" or the "Corporation") reported that all matters presented for approval at its annual and special meeting of shareholders held on December 21, 2020 (the "Meeting") were approved. Each of the matters voted upon at the Meeting are discussed in detail in the Corporation's management information circular dated November 20, 2020, which is available on SEDAR at www.sedar.com.
A total of 6,895,201 common shares representing 18% of the Corporation's issued and outstanding common shares were voted by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:
1. Election of Directors
At the meeting, each of the Corporations three directors, Fraser Buchan, Donn Burchill and John McBride were re-elected to the Board and A. Murray Sinclair was newly elected to the board, each to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.
Fraser Buchan
Mr. F. Buchan is currently the President and Chief Executive Officer of the Corporation. Mr. Buchan is the co-founder of Tradewind Markets, a private company that uses blockchain technology to facilitate trading, settlement, and custody of physical commodities. Mr. Buchan has served on the board of directors, as the head of corporate development, and as CEO of Castle Mountain Mining Inc., a company he founded in 2009. Mr. Buchan has also served as an executive director of Touchstone Gold, and as a director of Foxpoint Capital Corp. Prior to working in the mining business directly, Mr. Buchan was in institutional sales with GMP Europe in London, and GMP Securities in Toronto. Mr. Buchan earned a BA in Economics from McGill University in 2006.
Donn Burchill
Mr. Burchill, self-employed since 1998, has also worked as the Controller for Quest Capital Corp. from 1994 until 1997, as Chief Financial Officer for Kernow Resources & Development Ltd. from June 2009 to March 2010 and as President and Chief Executive Officer of Marchwell Ventures Ltd. from November 2011 to April 2018. Mr. Burchill received his Bachelor of Arts from the University of Victoria in 1976 and he is a Chartered Professional Accountant (CPA, CMA) since 1983. Mr. Burchill has over 25 years of public issuer experience and continues to serve as a director and officer for several public companies.
John McBride
Mr. McBride is a self-employed businessman and financier. He obtained his ICD.D corporate director designation through the Rotman Business School, and is certified by the Institute of Corporate Directors. He completed the Institute of Corporate Director’s Audit Committee Effectiveness program as well as the Institute of Corporate Directors Human Resources and Compensation Committee Effectiveness program. Since 1987, Mr. McBride has been a significant shareholder, director or advisor in several public companies; has chaired several audit committees; and has sat as an audit committee member for multiple public companies.
A. Murray Sinclair
With 35 years of business experience, Mr. Sinclair has extensive knowledge in the areas of asset backed lending, corporate restructuring, natural resources and real estate. Since December 2013, Mr. Sinclair has served as the Chief Investment Officer for Earlston Investments Corp., a private investment company. Mr. Sinclair was a founder and, prior to it being taken private, the Chairman of Sprott Resource Lending Corp., a TSX Exchange and NYSE-MKT listed resource lending corporation. From 2003 – 2013, Mr. Sinclair also held various senior management positions with Quest Capital Corp. the predecessor Company to Sprott Resource Lending Corp. Mr. Sinclair holds a Bachelor of Commerce degree from Queen’s University.
The detailed voting results were as follows:
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld |
| Fraser Buchan | 6,895,201 | 100 | 0 | 0 |
| Donn Burchill | 6,895,201 | 100 | 0 | 0 |
| John McBride | 6,895,201 | 100 | 0 | 0 |
| A. Murray Sinclair | 6,895,201 | 100 | 0 | 0 |
2. Appointment of Auditor
MNP LLP was appointed to serve as the auditor of the Corporation for the ensuing year, at remuneration to be fixed by the Board of Directors with 100% of votes cast in favour.
3. Approval of the Stock Option Plan
An ordinary resolution ratifying, confirming and approving the stock option plan of the Corporation, was approved with 100% of votes cast in favour.
4. Approval of Share Consolidation
A special resolution (the "Share Consolidation") authorizing the Corporation to consolidate the common shares of the Corporation (“Common Shares”) on the basis of every ten (10) pre-consolidation Common Shares being consolidated into one (1) post-consolidation Common Share was approved with 100% of votes cast in favour.
5. Approval of Private Placement
An ordinary resolution of disinterested shareholders of the Corporation approving the issuance of up to an aggregate of 31,250,000 Common Shares (on a post-consolidated basis) to certain members of management and others pursuant to a private placement (“Private Placement”) was approved with 100% of votes cast in favour.
6. Approval of Change of Name
A special resolution authorizing and approving a name change (“Name Change”) of the Corporation from “Angus Mining Inc.” to “Waverley Resources Ltd.”, or such other name as is authorized by the board of directors of the Corporation and is acceptable to the applicable regulatory authorities was approved with 100% of votes cast in favour.
7. Approval of Continuance into British Columbia
A special resolution: (i) approving the continuance of the Corporation from Ontario into British Columbia (the “Continuance”); (ii) to adopt new constating documents of the Corporation upon the Continuance; and (iii) to repeal the existing by-laws of the Corporation upon completion of the Continuance was approved with 100% of votes cast in favour.
The completion of the Share Consolidation, Private Placement, Name Change and Continuance are subject to the discretion of the directors, however, the Corporation intends to complete the aforementioned items during the first quarter of 2021.
Cautionary Note Regarding Forward-Looking Statements
Certain of the statements made and information contained herein is "Forward-looking information" within the meaning of applicable securities laws, including statements concerning our plans, future financings and operations, and the timing and completion of the Share Consolidation, Private Placement, Name Change and Continuance. Such forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, general economic, market and business conditions, including in light of the COVID-19 pandemic, changes in national and local government legislation or regulations regarding environmental factors, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; dependency on equity market financings to fund operations; and other risks and uncertainties, including those described in each management's discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For Further Information:
Fraser Buchan
Chief Executive Officer
Telephone: (416) 473-4099