Shore Gold AGM – Voting Results and Decisions
SHORE GOLD INC. ANNOUNCES THE RESULTS OF THE 2017 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
Shore Gold Inc. (“Shore” or the “Corporation”) (TSX – SGF) is pleased to announce that all of the nominees listed in the management proxy circular dated July 28, 2017 were elected as directors of the Corporation at its annual and special meeting of shareholders held on September 6, 2017 (the “Meeting”).
In addition, shareholders also approved at the Meeting:
- -a resolution to re-appoint KPMP LLP as the Corporation’s independent auditors;
- a resolution to amend the Corporation’s articles of incorporation to change the name of the Corporation;
- a resolution to restate the Corporation’s articles of incorporation; and
- a resolution regarding the continuation of the Corporation’s amended and restated Shareholder Rights Plan.
Detailed results of the vote for the election of directors held at the Meeting are set out below:
Nominee Votes For Votes Withheld Number % Number %
- Kenneth MacNeill 139,806,623 83.96% 26,699,657 16.04%
- Harvey Bay 138,143,576 82.97% 28,362,704 17.03%
- Arnie Hillier 136,337,120 81.88% 30,169,160 18.12%
- Ewan Mason 163,984,692 98.49% 2,521,588 1.51%
- Neil McMillan 141,002,254 84.68% 25,504,026 15.32%
- Brian Menell 165,021,250 99.11% 1,485,030 0.89%
- Peter Ravenscroft 165,579,587 99.44% 926,693 0.56%
- Michael Ryer 164,287,935 98.67% 2,218,345 1.33%
The Company was advised that certain individuals had been appointed as proxyholders by a significant number of shareholders. Based on legal advice, the Chairman assessed that the solicitation of these proxies was not done in accordance with applicable laws in Canada regulating public companies. It was the Chairman’s view that, in soliciting proxies in this fashion, it was unfair to the shareholders of the Company as a whole in that only those shareholders who were solicited in this fashion were aware that a proxy contest was underway, which is the type of conduct the proxy solicitation rules preclude, in that they require that all shareholders have the same information in making their voting decision. It was clearly communicated at last year’s Meeting that to maintain the integrity of the Corporation’s voting procedures, all parties must comply with the law and any failure to comply with the law in the future will result in those votes being struck. Although these votes were inconsequential to the results, these individuals were warned last year. As a result, the Chairman disallowed these votes, resulting in 11,824,531 votes not being allowed to stand.
The name and trading symbol change will not come in to effect until certain regulatory step occur, as well as other
preparations required by the Corporation; a further press release will be issued when the name change becomes effective.
Voting results for all matters will be posted on SEDAR at www.sedar.com.
Shore is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Exchange under the trading symbol “SGF”.
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