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Cartier Resources Inc (2)
Symbol C : ECR
Shares Issued 118,436,319
Close 2017-05-18 C$ 0.295
Recent Sedar Documents

Cartier Resources shareholders elect 5 directors at AGM

2017-05-19 14:47 ET - News Release

Mr. Philippe Cloutier reports

CARTIER RESOURCES INC. ANNOUNCES AGM ELECTION RESULTS

At its annual general meeting held on May 19, 2017, the following people were elected as directors of Cartier Resources Inc.:

  • Michel Bouchard;
  • Philippe Cloutier;
  • Mario Jacob;
  • Jean-Yves Laliberte;
  • Daniel Masse.

The proposal to maintain the stock option plan as presented in the management information circular was approved by the shareholders at the annual general meeting. The proposal allows the company to grant a number of stock options representing a maximum of 10 per cent of the shares outstanding (on a non-diluted basis).

The proposal to appoint Deloitte LLP as auditor of the company as presented in the management information circular was approved by the shareholders at the annual general meeting.

Following the annual meeting, the board of directors named the following people as officers of the company:

  • Philippe Cloutier, PGeo, president and chief executive officer;
  • Gaetan Lavalliere, PGeo, vice-president;
  • Nancy Lacoursiere, chief financial officer;
  • Jean-Yves Laliberte, chairman of the board and corporate secretary.

Grant of stock options

On May 19, 2017, the board of directors awarded a total of 2,125,000 stock options to directors, officers, one employee of the company and Paradox Public Relations. Pursuant to the terms of the company's stock option plan, each option grants the holder of such option the right to purchase a common share of the company at a price of 29.5 cents per share no later than May 19, 2022.

In addition, in connection with the investment announced on May 26, 2016, the company announces that following its buyback of a tranche of 1.2 per cent of the gross revenue royalty on the Benoist property, it has agreed to proceed with the buyback of an additional tranche of 0.2 per cent with two investors by the issuance of 135,194 common shares at a price of 29.5 cents per share (67,597 common shares per investor), the whole subject to the approval of the TSX Venture Exchange. The Benoist property will continue to be subject to a 0.1-per-cent gross revenue royalty.

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