Road Town, British Virgin Islands--(Newsfile Corp. - July 26, 2018) - Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders ("AGM") held today in St. Michael, Barbados.
All of the nominee directors listed in Talon's management information circular dated June 25, 2018 (the "Circular") were elected as directors. The results of the shares voted in respect of the election of each director were as follows:
|Name of Nominee||Votes For||Votes Withheld|
|Luis Mauricio F. de Azevedo||52,076,425||(99.75%)||130,100||(0.25%)|
|John D. Kaplan||52,191,525||(99.97%)||15,000||(0.03%)|
|Gregory S. Kinross||52,191,525||(99.97%)||15,000||(0.03%)|
|Anthony J. Naldrett||51,524,925||(98.69%)||681,600||(1.31%)|
|Warren E. Newfield||52,076,425||(99.75%)||130,100||(0.25%)|
|David L. Deisley||51,642,025||(98.92%)||564,500||(1.08%)|
|Henri van Rooyen||52,074,425||(99.75%)||132,100||(0.25%)|
|David E. Singer||52,189,525||(99.97%)||17,00||(0.03%)|
In addition, at the AGM, the shareholders were asked to consider, and if deemed appropriate, to pass a resolution (the "Loan Extension Resolution") which extends the maturity date of the existing loan agreements amongst the Company, as borrower, certain of its subsidiaries, as guarantors, and Resource Capital Fund VI L.P. ("RCF") as lender, as more fully described in the Circular. RCF is a "related party" of Talon under Multilateral Instrument 61-101 ("MI 61-101"), as RCF, assuming the exercise of the conversion rights under a convertible loan, has beneficial ownership of, and control or direction over, directly or indirectly securities of the Company carrying more than 10% of the voting rights attached to all of the Company's outstanding voting securities. Accordingly, the Company was required to obtain "minority approval" (as defined in MI 61-101) for the Loan Extension Resolution. As such, all votes by RCF and any of its respective related parties, associates or affiliates, and any joint actors of the foregoing were excluded from the voting results.
The results of the shares voted in respect of the Loan Extension Resolution were as follows:
|Votes For (%)||Votes Against (%)|
|39,805,424 (99.94%)1||25,004 (0.06%)|
At the AGM, shareholders also voted in favour of appointing MNP LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration.
Talon is a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.
For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:
Talon Metals Corp.
Tel: (416) 361-9636 x102
1 Excludes 12,376,097 shares held by RCF