Stelmine announces the results of its annual meeting of Shareholders and the grant of stock options

QUÉBEC CITY, March 30, 2021 (GLOBE NEWSWIRE) -- Stelmine Canada (« Stelmine ») (STH-TSXV) today announced the results of the annual meeting of its shareholders held on zoom on this date (the “Meeting”). During the Meeting, the candidates recommended by management, being André Proulx, Isabelle Proulx, Jacinthe Baril, Julie Lemieux, Michel Boily and Normand Goulet, were elected as directors of the Company. Brunet Roy Dubé, CPA S.E.N.C.R.L, were appointed as the Company’s independent auditors, and the Corporation’s Stock Option Plan (“Stock Option Plan”) was re-approved by the Company’s shareholders.

Ms. Ann Levasseur has decided not to seek re-election, however she will continue to accompany the Company as a management consultant. The Management wants to express his gratitude to Mrs. Levasseur for her involvement.

After the meeting, a total of 2,325,000 stock options granted according to the Company’s Option Plan. 2,225,000 options were granted to directors, executive officers and employee for a period of 5 years. The Company also allocated 100,000 options to a consultant for a period of 1 year. All options are issued at the grant date at an exercise price of 0.12$, being the closing price of the Company’s shares on the TSX Venture Exchange the day preceding the grant. Each option may be exercised during each period specified above from the grant date. Subject to approval of the TSX Venture Exchange.

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About Stelmine
Stelmine is a junior mining exploration company that concentrates its exploration activities in the Province of Québec. Stelmine holds 1574 claims spanning 815 km² on the eastern part of the Opinaca metasedimentary basin, containing zones having high potential for the discovery of gold deposits in geological contexts similar to that of the Eleonore Mine. Its capital stock consists of 45,896,188 issued and outstanding shares.

Forward-looking statements

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the listing and trading of the Corporation's common shares on the CSE and the availability of a listing statement on the CSE's website and on SEDAR are based on the 'Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.