Goldgroup Announces the Results of its 2017 Annual General and Special Meeting of Shareholders
VANCOUVER, July 7, 2017 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) held its annual general and special meeting of shareholders in Vancouver, B.C. on June 14, 2017.
At the meeting, all director nominees listed in the Company's management information circular dated May 17, 2017, were elected as directors of the Company.
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Common Shares represented at the Meeting: |
19,246,544 |
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Total issued and outstanding Common Shares as at Record Date: |
185,136,689 |
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Percentage of issued and outstanding Common Shares represented: |
10.4% |
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MATTERS VOTED UPON |
VOTING RESULTS | |||||
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1. |
Number of Directors |
Votes in Favour |
Votes Against | |||
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The fixation of the number of directors at four. |
19,199,782 (99.76%) |
46,762 (0.24%) | ||||
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The number of directors was fixed at four (4) | ||||||
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2. |
Election of Directors |
Votes in Favour |
Votes Withheld | |||
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The election of the following nominees as directors of the Company for the ensuing year or until their successors are appointed: |
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Keith Piggott |
18,049,860 (93.78%) |
1,196,684 (6.22%) | ||||
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Corry J. Silbernagel |
19,074,226 (99.10%) |
172,318 (0.90%) | ||||
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Javier Reyes |
17,926,653 (93.14%) |
1,319,891 (6.86%) | ||||
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Javier Montano |
18,040,519 (93.73%) |
1,206,025 (6.27%) | ||||
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Each of the four nominees proposed by management was elected as a director of the Company. | ||||||
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3. |
Appointment of Auditors |
Votes in Favour |
Votes Withheld | |||
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The appointment of Davidson & Company LLP, Chartered Accountants, as auditors of the Company and the authorization of the directors to set their remuneration. |
19,216,719 (99.85%) |
29,825 (0.15%) | ||||
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Davidson & Company LLP, Chartered Accountants, was re-appointed as the auditors of the Company and the directors were authorized to set their remuneration. | ||||||
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4. |
Stock Option Plan |
Votes in Favour |
Against | |||
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The approval of the Company's 2017 Stock Option Plan attached as Schedule "A" to the Company's management information circular filed on SEDAR on May 10, 2017, and of all unallocated stock options thereunder. |
17,971,226 (93.37%) |
1,275,318 (6.63%) | ||||
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The Shareholders approved the Company's 2017 Stock Option Plan attached as Schedule "A" to the Company's management information circular filed on SEDAR on May 17, 2017, and all unallocated stock options thereunder. | ||||||
The formal report on voting results with respect to all matters voted upon at the meeting has been filed on SEDAR.
About Goldgroup
Goldgroup is a Canadian-based gold production, development, and exploration Company with a significant upside in a portfolio of projects in Mexico and Ecuador, including a 50% interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San Jos?(C) de Gracia located in the State of Sinaloa. The Company operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora, Mexico, and is continuing the environmental assessment and permitting processes to advance to production the El Mozo property in Ecuador.
Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico and Ecuador. Goldgroup's mission is to increase gold production, mineral resources, profitability and cash flow, with a view to building a leading gold producer.
For further information on Goldgroup, please visit www.goldgroupmining.com
On behalf of the Board of Directors,
Mr. Keith Piggott, Chairman and President
Tel: 1-520-247-5753
Investor Relations
Toll Free: 1-877-655-ozAu (6928)
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain information contained in this news release, including any information relating to future financial or operating performance (including future production and cost estimates), may be considered "forward-looking information" (within the meaning of applicable Canadian securities law) and "forward-looking statements" (within the meaning of the United States Private Securities Litigation Reform Act of 1995). These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Actual results could differ materially from the conclusions, forecasts and projections contained in such forward-looking information. These forward-looking statements reflect Goldgroup's current internal projections, expectations or beliefs and are based on information currently available to Goldgroup. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Certain assumptions may have been made regarding the Company's plans at the Cerro Prieto project. Many of these assumptions are based on factors and events that are not within the control of Goldgroup and there is no assurance they will prove to be correct. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those reflected in the forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors including, without limitation: uncertainties related to actual capital costs, operating costs and expenditures, production schedules and economic returns from Goldgroup's projects; uncertainties associated with development activities; uncertainties inherent in the estimation of mineral resources and precious metal recoveries; uncertainties related to current global economic conditions; fluctuations in precious and base metal prices; uncertainties related to the availability of future financing; potential difficulties with joint venture partners; risks that Goldgroup's title to its property could be challenged; political and country risk; risks associated with Goldgroup being subject to government regulation; risks associated with surface rights; environmental risks; Goldgroup's need to attract and retain qualified personnel; risks associated with potential conflicts of interest; Goldgroup's lack of experience in overseeing the construction of a mining project; risks related to the integration of businesses and assets acquired by Goldgroup; uncertainties related to the competitiveness of the mining industry; risk associated with theft; risk of water shortages and risks associated with competition for water; uninsured risks and inadequate insurance coverage; risks associated with potential legal proceedings; risks associated with community relations; outside contractor risks; risks related to archaeological sites; foreign currency risks; risks associated with security and human rights; and risks related to the need for reclamation activities on Goldgroup's properties, as well as the risk factors disclosed in Goldgroup's Annual Information Form and MD&A. Any and all of the forward-looking information contained in this news release is qualified by these cautionary statements. Although Goldgroup believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Goldgroup expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except as may be required by, and in accordance with, applicable securities laws.
SOURCEGoldgroup Mining Inc.
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