16:38:41 EST Tue 07 Dec 2021
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International Montoro Resources Inc (2)
Symbol IMT
Shares Issued 64,512,105
Close 2020-12-16 C$ 0.05
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Int'l Montoro shareholders approve all matters at AGM

2020-12-16 16:33 ET - News Release

Mr. Karim Rayani reports

MONTORO ANNOUCES ELECTION OF DIRECTORS AND AGM RESULTS

International Montoro Resources Inc.'s nominees listed in the management information circular for the 2020 annual general meeting of shareholders held on Dec. 15, 2020, were duly elected as directors confirming the current management slate. The shareholders elected Karim Rayani, Mark Luchinski, Gary Musil, Brent Griffin and Fraser Rieche as directors for the upcoming year. The scrutineer reported that there were a total of 49 shareholders holding 16,905,657 shares represented in person or by proxy at the meeting. This represents 26.21 per cent of the total 64,512,105 shares issued and outstanding as at record date. Detailed results are set out herein.

Resolution votes for (per cent):

  • Fixing the number of directors: 97.14 per cent;
  • Election of directors:
    • Karim Rayani: 95.56 per cent;
    • Gary Musil: 97.30 per cent;
    • Fraser Rieche: 97.61 per cent;
    • Brent Griffin: 97.61 per cent;
    • Mark Luchinski: 97.61 per cent.
  • Appointment of auditor: 96.08 per cent;
  • Approval of the stock option plan: 95.85 per cent.

The advance notice policy (ANP) resolution submitted by management to shareholders for consideration was also approved as presented at 93.36 per cent; as attached to the information circular as Schedule C. In order for the ANP to remain in effect, the ANP must be ratified, confirmed and approved at each subsequent annual general meeting.

The final resolution regarding the plan of arrangement was tabled until a later date to allow the company to prepare and provide to the shareholders details regarding the proposed arrangement; and with a new and separate proxy.

At the directors meeting following; the directors appointed Mr. Rayani as president/chief executive officer and Mr. Rieche as corporate secretary/chief financial officer for the upcoming year. The audit committee will comprise Mr. Musil, Mr. Griffin and Mr. Luchinski. The directors also fixed the remuneration to be paid to the auditor for the financial year ended Aug. 31, 2019.

The board of directors would also like to thank the company's shareholders for their patience and continued support since the outbreak of COVID-19, a global pandemic, and these difficult markets throughout the past year.

About International Montoro Resources Inc.

Montoro, listed on the TSX Venture Exchange for over 25 years, is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

  • Exploits zone, Newfoundland (Slip and Victoria Lake -- Au prospects);
  • Atikokan, Ont. (BlackFly -- Au prospect);
  • Red Lake, Ont. (Camping Lake -- Au prospect);
  • Elliot Lake, Ont. (Serpent River/Pecors -- nickel-copper-platinum-group-elements discovery) and (uranium-rare-earth-elements);
  • Quebec (Duhamel -- nickel-copper-cobalt prospect and titanium, vanadium and chromium prospect);
  • Prince George, B.C. (Wicheeda North -- rare earth elements prospect).

We seek Safe Harbor.

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