18:22:34 EDT Wed 08 May 2024
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or Name
USA
CA



McEwen Mining Inc
Symbol MUX
Shares Issued 277,044,650
Close 2016-06-03 C$ 3.15
Market Cap C$ 872,690,648
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McEwen shareholders elect directors at AGM

2016-06-03 16:14 ET - News Release

Also News Release (C-MAQ) McEwen Mining and Minera Andes Acquisition Co

Mr. Robert McEwen of McEwen Mining reports

MCEWEN MINING AND MCEWEN MINING - MINERA ANDES ACQUISITION CORP. ANNOUNCE RESULTS OF THEIR ANNUAL GENERAL AND SPECIAL MEETINGS

McEwen Mining Inc. (McEwen Mining) and McEwen Mining and Minera Andes Acquisition Corp. (ExchangeCo) have released the results of their annual general and special meetings held on May 31, 2016. McEwen Mining reports that Robert McEwen, Allen Ambrose, Michele Ashby, Leanne Baker, Richard Brissenden, Gregory Fauquier, Donald Quick and Michael Stein were elected as directors. The shareholders of McEwen Mining also approved on an advisory basis the compensation of the named executive officers as described in the proxy statement, approved on an advisory basis to have the say-on-pay vote every three years and ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the year ending Dec. 31, 2016. Colin Sutherland was also elected as director of ExchangeCo. In addition, the holders of ExchangeCo voted in favour of amending the definition of redemption date for the amended articles of incorporation dated Sept. 22, 2011.

Detailed voting results for the re-election of directors of McEwen Mining are as follows.

Nominee                          For         Withheld      Percentage      Percentage   
                                                                  for        withheld 

Robert R. McEwen         135,985,987          276,417           99.80            0.20       
Allen V. Ambrose         134,181,850        2,080,554           98.47            1.53    
Michele L. Ashby         135,687,564          574,840           99.58            0.42    
Leanne M. Baker          135,775,333          487,071           99.64            0.36    
Richard W. Brissenden    135,765,115          497,289           99.64            0.36    
Gregory P. Fauquier      135,730,664          531,740           99.61            0.39    
Donald R.M. Quick        135,685,264          577,140           99.58            0.42  
Michael L. Stein         135,748,415          513,989           99.62            0.38   
                                                                                

ExchangeCo, a subsidiary of McEwen Mining, was formed to facilitate the acquisition of Minera Andes Inc. in 2012. In connection with this acquisition, ExchangeCo issued exchangeable shares to holders of Minera Andes shares. The exchangeable shares are convertible on a one-for-one basis into shares of McEwen Mining. Holders of exchangeable shares also vote on the same matters as holders of McEwen Mining common shares, and their votes are included in the above results.

Detailed voting results for the election of the director of ExchangeCo are as follows.

Nominee                          For         Withheld      Percentage      Percentage   
                                                                  for        withheld 

Colin Sutherland           2,341,717           70,599           97.07            2.93                                                                    

In addition, the holders of ExchangeCo voted in favour of amending the definition of redemption date for the amended articles of incorporation dated Sept. 22, 2011. The amendment will allow McEwen Mining to redeem all outstanding exchangeable shares of ExchangeCo.

We seek Safe Harbor.

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