All of the matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular were approved by the requisite majority of votes cast at the AGM.
Shareholders voted in favour of all matters brought before the meeting including the re-appointment of PricewaterhouseCoopers as auditors for the ensuing year, and the election of management’s nominees as directors.
Magna Gold Corp. is pleased to announce that, further to its news release dated April 24, 2020, its subsidiary, Molimentales del Noroeste, S.A. de C.V. has entered into a definitive agreement with Peal de Mexico, S.A. de C.V. to settle the existing arbitration proceedings between Peal and Molimentales in relation to the Company’s San Francisco gold mine located in Sonora, Mexico.
Net proceeds from the private placement will be used to acquire a private Brazilian company that has a purchase agreement to acquire a 100% interest in the 172 ha freehold Lima Property for a purchase price of Cdn$500,000, as well as initial exploration work in preparation for bulk sampling at Lima, and for general working capital.
For compliance reasons, and as a result of his employer’s perceived conflicts, Mr. Kevin Olson was unable to accept his appointment as director of the corporation. As a result, the remaining board members have appointed Mr. Christopher Cheng, P.Eng to fill the vacancy.
“Teck’s already strong liquidity will be further augmented with these transactions,” said Don Lindsay, President and CEO. “Together with our US$4 billion revolving credit facility that matures in Q4 2024 and our US$2.5 billion project financing facility for QB2, this new US$1 billion facility and the extension of near term debt maturities will give Teck significant liquidity as we complete QB2 and the Neptune expansion project.”
Bob Willis, CEO & Director, stated, “San Marco very much appreciates the strong support from the institutional investor community. We are looking forward to continue a very expanded drill program at the Buck Property as soon as possible.”
MAG Silver intends to use the net proceeds of the Offering, if any, primarily to fund the completion of construction of the Juanicipio Project, with any remainder to fund further exploration of Juanicipio and other projects, and for working capital and general corporate purposes.
During this MCTO all management, officers and directors of the Company will be prohibited from trading in the Company’s shares pursuant to the Company’s black-out procedures.
“We are pleased to reach the milestone of advancing from trading on the OTCQB to the OTCQX. This will make it easier for our U.S. investors to participate in Silver One, by reducing the requirement of having a Canadian trading account,” said Greg Crowe, the CEO of Silver One.
Major Drilling Group International Inc. is one of the world’s largest drilling services companies primarily serving the mining industry. Established in 1980, Major Drilling has over 1,000 years of combined experience and expertise within its management team alone.
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
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