Sabina Gold & Silver Corp. Amends Text of Proposed New Articles for Upcoming Annual General and Special Meeting of Shareholde...
May 22 2020 - 4:30PM
Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX),
(“
Sabina” or the “
Company”)
announces that it has amended the text of the proposed new Articles
of the Company which are to be presented for shareholder approval
at the Company’s upcoming shareholders’ meeting on June 4, 2020.
In order to satisfy ISS concerns regarding the
Company’s proposed Articles for adoption at the upcoming Annual
General and Special Meeting of shareholders on June 4, 2020, the
Company has revised language in section 14.12(4) of the proposed
Articles:
From:
“The Company may require any proposed nominee to
furnish such other information as may reasonably be required by the
Company to determine the eligibility of such proposed nominee to
serve as an independent director of the Company or that could be
material to a reasonable shareholder’s understanding of the
independence, or lack thereof, of such proposed nominee.”
To:
“The Company may require any proposed nominee to
furnish such other information as required by Applicable Securities
Laws to determine the eligibility of such proposed nominee to serve
as an independent director of the Company or that could be material
to a reasonable shareholder’s understanding of the independence, or
lack thereof, of such proposed nominee.”
About Sabina Gold &
Silver
Sabina Gold & Silver Corp. is well-financed
and is an emerging precious metals company with district scale,
advanced, high grade gold assets in one of the world’s newest,
politically stable mining jurisdictions: Nunavut, Canada.
Sabina released a Feasibility Study on its 100%
owned Back River Gold Project which presents a project that has
been designed on a fit-for purpose basis, with the potential to
produce ~200,000 ounces a year for ~11 years with a rapid payback
of 2.9 years (see “Technical Report for the Initial Project
Feasibility Study on the Back River Gold Property, Nunavut, Canada”
dated October 28, 2015).
The Project received its final Project
Certificate on December 19, 2017. The Project received
its Type A Water License on November 14, 2018 and is now in receipt
of all major authorizations for construction and operations.
In addition to Back River, Sabina also owns a
significant silver royalty on Glencore’s Hackett River
Project. The silver royalty on Hackett River’s silver
production is comprised of 22.5% of the first 190 million ounces
produced and 12.5% of all silver produced thereafter.
The Company had approximately $21.2 million in
cash, cash equivalents and short-term investments as at March 31,
2020.
For further information, please
contact:
Nicole Hoeller, Vice-President, Communications: 1
888 648-4218 nhoeller@sabinagoldsilver.com
This news release has been authorized by the
undersigned on behalf of Sabina Gold & Silver Corp.
Bruce McLeod, President & CEOSuite 1800 – Two
Bentall Centre555 Burrard StreetVancouver, BC V7X 1M7Tel 604
998-4175 Fax 604 998-1051http://www.sabinagoldsilver.com
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