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.
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