Mammoth Announces Annual and Special Meeting Results and Closing of Private Placement

2021-02-03 / @thenewswire

(TheNewswire)

Toronto, Canada - TheNewswire - February 3, 2021 - Mammoth Resources Corp. (TSXV:MTH), (OTC:MMMRF), (the “Company”, or “Mammoth”) is pleased to announce results of voting at its virtual annual and special meeting of shareholders which was held earlier today via Zoom conference facility (the “Meeting"). All matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, dated December 15 2020, were approved by a majority of votes cast at the Meeting. Matters before this meeting, include the following.

Number of Directors - shareholders approved the setting of the number of Directors at three.

Election of Directors - shareholders elected the following slate of Directors: Thomas Atkins, Richard Simpson and Paul O’Brien.

Appointment of Auditors - appointment of Davidson & Company LLP, Chartered Accountants as Auditors of the Corporation for the ensuing year with their remuneration to be fixed by the Board of Directors.

Reconfirmation of the Stock Option Plan - shareholders approved the Company's rolling 10% stock option plan.

It should be noted that the Company has previously approved an Advance Notice Policy dealing with the nomination of Directors at an Annual General Meeting. A copy of the Company’s Advance Notice Policy was attached to the Information Circular to this Meeting.

Closing Private Placement Financing

Mammoth was recently granted conditional approval by the TSX Venture Exchange (the “Exchange”) to close its previously oversubscribed $688,500 gross proceeds private placement financing (refer to press release dated January 21, 2021). The expiry date on the four-month hold period for the securities issued under this private placement has been set as May 28, 2021. Upon providing this announcement the Company anticipates receiving final approval from the Exchange for closing this private placement.

Mammoth Resources to Present at GCFF Virtual Conference - Precious Metals Day

The “GCFF Virtual Conference - Precious Metals Day” is a free online webinar which will be held on February 4th 2021. The Conference is being held following the dramatic increase in the gold price in 2020, and with it the reinvigorated gold and precious metals exploration mining sector. With new capital flowing into precious metals companies in 2020, the results of their exploration campaigns will present themselves in 2021. GFCC is offering the opportunity for interested parties to learn about how they might profit from gold, silver and other precious metals exploration mining companies at the event.

The GCFF Virtual Conference - Precious Metals Day is a free online webinar and will provide viewers with:

- High level macro-economic analysis on the precious metals sector’s outlook in 2021,

- Understanding the opportunities presented by the precious metals sector, and

- Hearing directly from precious metals company CEOs about their projects.

Mammoth Resources President and CEO, Thomas Atkins will be presenting Feb 4, 2021 (THIS THURSDAY) 12:20 pm PST / 3:20 pm EST “Commencing Field Exploration at the Tenoriba Property in Mexico.”

About Mammoth Resources:

Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the 5,333 hectare Tenoriba gold property located in the Sierra Madre Precious Metal Belt in southwestern Chihuahua State, Mexico. Mammoth is seeking other opportunities to option exploration projects in the Americas on properties it deems to host above average potential for economic concentrations of precious metals mineralization.

To find out more about Mammoth Resources and to sign up to receive future press releases, please visit the company's website at: www.mammothresources.ca., or contact Thomas Atkins, President and CEO at: 416 509-4326.

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.

Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements; examples include the listing of its shares on a stock exchange and establishing mineral resources. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.