TVI Announces the Results of its Annual General and Special Meeting of Shareholders
CALGARY, AB, June 29, 2023 /CNW/ - TVI Pacific Inc. (TSXV: TVI) (OTC Pink: TVIPF) ("TVI" or "the Company") is pleased to announce that shareholders ("Shareholders") have approved all resolutions brought before them at the Annual General and Special Meeting of Shareholders ("AGM") held on June 28, 2023. A total of 261,905,619 shares were represented in person or by proxy at the meeting, representing approximately 38.80% of the Company's outstanding shares.
Current directors Clifford M. James, Robert C. Armstrong, C. Brian Cramm, Jan R. Horejsi and David Moscovitz were re-elected as directors and will hold office until the next annual meeting of Shareholders or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation. Additionally, Manuel Paolo A. Villar and Michael G. Regino were elected as directors, as nominees of Prime Resources Holdings Inc., in connection with the anticipated completion of the previously announced private placement. Messrs. Villar and Regino have been elected as directors upon the condition that they shall resign if the private placement does not close by July 31, 2023 or if there is a failure to obtain any regulatory approval or clearance for such nominee to act as a director of the Company.
Shareholders also voted in favour of (i) reappointing PricewaterhouseCoopers LLP as the external auditor of the Company for the ensuing year and authorizing directors to fix their remuneration; and (ii) re-approving the Company's Stock Option Plan, through which the total number of common shares reserved for issuance as incentive stock options granted to insiders shall not exceed 10% of the total issued and outstanding common shares.
TVI Pacific Inc. is a Canadian resource company focused on mining projects in the Philippines, one of the most prolifically mineralized countries in the world. TVI currently holds a 30.66% equity interest in TVI Resources Development Phils, a Philippines corporation. Through TVIRD, TVI has ownership in a currently producing gold mine and is focused on bringing on-stream the Siana gold mine at which equipment has been rehabilitated and commissioning of the plant has commenced in line with TVIRD's plan to restart operations. TVI has 674,987,039 outstanding common shares and 696,887,039 fully diluted including the currently issued outstanding options of 21,900,000.
Certain information set out in this News Release constitutes forward-looking information including, without limitation, the anticipated completion of the private placement transaction with Prime Resources Holdings, Inc. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions. Forward-looking statements in this News Release are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements.
Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2022, which was filed on SEDAR on May 15, 2023 and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE TVI Pacific Inc.
Patrick Hanna, CPA, CMA, Chief Financial Officer, TVI Pacific Inc., Phone: 403-265-4356, E-mail: [email protected]
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