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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 277,244,914
Close 2020-06-30 C$ 55.90
Recent Sedar Documents

Kirkland Lake holders elect eight directors at AGSM

2020-07-02 09:15 ET - News Release

Mr. Anthony Makuch reports

KIRKLAND LAKE ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

At Kirkland Lake Gold Ltd.'s annual general and special meeting of shareholders held on June 30, 2020, all resolutions proposed to shareholders were duly passed.

Based on proxies received, 210,350,317 common shares of the company, representing 75.87 per cent of the company's issued and outstanding common shares as at the record date, were voted and the individuals set out in the included table were elected as directors of the company until the next annual meeting of shareholders.

Name of nominee       Votes cast for  % votes cast for  Votes withheld  % of votes withheld

Jonathan Gill            178,683,301            92.54%      14,403,453                7.46%              
Peter Grosskopf          100,523,312            52.06%      92,563,443               47.94%             
Ingrid Hibbard           156,245,873            80.92%      36,840,881               19.08%             
Arnold Klassen           148,885,445            77.11%      44,201,309               22.89%             
Elizabeth Lewis-Gray     178,631,957            92.51%      14,454,735                7.49%              
Anthony Makuch           190,922,688            98.88%       2,164,066                1.12%              
Barry Olson              179,264,634            92.84%      13,822,120                7.16%              
Jeff Parr                177,259,274            91.80%      15,827,481                8.20%              

The company has clarified that a significant number of withhold votes attributable to Mr. Grosskopf are as a result him being overboarded under the provisions of Glass Lewis. The company has assured shareholders that this is being rectified and that Mr. Grosskopf will be resigning from his other board position effective July 29, 2020. As a result, following such resignation, Mr. Grosskopf will only sit on one outside board, being Kirkland Lake Gold.

Mr. Parr, chairman of the board, commented: "We fully appreciate shareholder concerns on overboarding and the challenges which arise when directors are overextended. Given the significant responsibility and time commitment required of a Kirkland Lake board member, we are very pleased to have resolved Peter Grosskopf's overboarding issue. Peter is a valued board member who brings a unique perspective and expertise to our board. We will continue to implement best corporate governance practices going forward to ensure the alignment of interests between shareholders and the board. We would like to thank shareholders for their continued support."

In addition:

  1. The number of directors to be elected to hold office until the next annual meeting or until their successors are elected or appointed was fixed at eight, in accordance with the articles and bylaws of the company;
  2. KPMG LLP, chartered accountants, was appointed as the company's auditor for the ensuing year;
  3. A non-binding advisory resolution on the company's approach to executive compensation was passed;
  4. Amendments to the long-term incentive plan and deferred share unit plan were all passed by a majority of shareholders.

For detailed voting results on each resolution, please refer to the company's report of voting results filed on SEDAR.

About Kirkland Lake Gold Ltd.

Kirkland Lake is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the company is anchored by three high-quality operations, including the Macassa mine and Detour Lake mine, both located in Northern Ontario, and the Fosterville mine located in the state of Victoria, Australia.

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