CMC Metals Announces Results of AGM and Granting of Options

VANCOUVER, British Columbia, Nov. 06, 2024 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5N)

(“CMC” or the “Company”) is pleased to announce the results of its 2024 Annual and Special General Meeting (“AGM”) of shareholders held on September 25, 2024.

Shareholders approved all the resolutions detailed in the management information circular of the Company (the “Circular”), namely:

• Electing all the nominees to the Board of Directors of the Company.
• Appointing Manning Elliott LLP as auditor of the Company for the ensuing year and authorizing the directors to determine the auditor’s compensation.
• Approving the Incentive Stock Option Plan for the Company.
  

A total of 10,493,653 common shares of the Company were voted at the AGM, representing approximately 6.65% of the issued and outstanding common shares of the Company, with the following results:

The Company further wishes to announce that it has granted, effective today, an aggregate of 2,100,000 stock options (each an “Option) to certain directors, officers, staff, and consultants of the Company in accordance with the Company’s Rolling Stock Option Plan. Each Option is exercisable into one common share in the capital of the Company (each a “Share”) at a price of $0.025 per Share. The options are subject to a four month hold period to March 7, 2025 and then the holder can exercise the option at anytime for a period of five years from the date of grant, subject to certain vesting requirements in accordance with the Company’s option plan.

The Company will provide a detailed review of activities and outline of future proposed work and issue an updated newsletter which will be posted on our website in the very near future.

About CMC Metals Ltd.

CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects in the Rancheria Silver District include the Silver Hart Deposit and Blue Heaven claims (Yukon), Amy and Silverknife claims (British Columbia). Our polymetallic projects with potential for copper-silver-gold and other metals include Bridal Veil (central Newfoundland) and Logjam (Yukon).

On behalf of the Board:

“Kevin Brewer”
President, CEO and Director
CMC METALS LTD.

For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327-8013
kbrewer80@hotmail.com
Suite 1000-409 Granville Street
Vancouver, BC
V6C 2T6

To be added to CMC's news distribution list, please send an email to info@cmcmetals.ca or contact Mr. Kevin Brewer.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

“This news release may contain certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company’s filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.”