07:55:17 EDT Sun 12 Jul 2020
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Golden Tag Resources Ltd
Symbol GOG
Shares Issued 129,806,558
Close 2020-06-30 C$ 0.125
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Golden Tag to hold AGM on Aug. 4

2020-06-30 22:49 ET - News Release

Mr. Greg McKenzie reports


Golden Tag Resources Ltd. will hold an annual and special meeting of shareholders on Aug. 4, 2020. The record date for the shareholders entitled to vote at the meeting has been set as at the close of business of June 22, 2020.

The board of directors of the company proposes to adopt an amended and restated bylaw No. 1 (general corporate bylaw), relating to general corporate matters, which rescinds and replaces the company's existing general corporate bylaw. The general bylaw, among other provisions, contains provisions to ensure that the company's bylaw remains consistent with evolving corporate laws and governance practices and guidelines. The general bylaw will become effective upon confirmation by shareholders at the meeting.

The board of directors of the company has adopted a new 10-per-cent rolling incentive stock option plan to replace the previous fixed number stock option. The new plan is subject to the approval of the TSX Venture Exchange and of shareholders of the company at the meeting. These items of business and related items of business will be described in the information circular in respect of the meeting to be posted under the company's profile on SEDAR.

On May 28, 2020, the company announced that Greg McKenzie, president and chief executive officer of the company, was granted certain one-year nomination rights under the investment agreement dated May 19, 2020, pursuant to which he could appoint up to two directors of the company. Mr. McKenzie has waived his rights to nominate a second director following the appointment of Tom English as director. Further, Mr. McKenzie has waived his one-year right to appoint successor directors (except with respect to his or Mr. English's successor).

Pursuant to its 2004 incentive stock option plan, as amended on June 30, 2008, the company has granted one million incentive stock options to certain directors, who previously did not receive any awards, having an exercise price of 12.5 cents, which vest over time and are exercisable for a period of up to five years.

Golden Tag is a junior exploration company exploring for high-grade silver deposits. The company holds a 100-per-cent interest in the San Diego property in Durango state, Mexico. The San Diego property is located within the Velardena mining district, the site of several mines having produced silver, zinc, lead and gold over the past century.

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