CALGARY, June 22, 2018 /CNW/ - TVI Pacific Inc. (TSX-V:
TVI) (OTC Pink: TVIPF) ("TVI" or "the Company")
announces that shareholders have approved of all resolutions
brought before them at the Annual General Meeting of Shareholders
("AGM") held on June 21, 2018.
A total of 131,355,927 shares were represented in person or by
proxy at the meeting, representing approximately 20.04% of the
Company's outstanding shares.
Results of Annual General Meeting
The following Board members stood for re-election and were duly
re-elected: Clifford M. James,
Robert C. Armstrong, C. Brian Cramm, Jan R.
Horejsi and David
Moscovitz. These directors will hold office until the
next TVI annual meeting or until their successors are elected or
appointed or a director vacates office in accordance with the
by-laws of the Corporation. Of the 131,355,927 votes cast,
approximately 98.53% were in favour of the election of the
directors, while 1.47% were withheld.
Voting results for individual directors are set out below:
Name
of
Nominee
|
Votes
For
|
Percentage
|
Votes
Withheld
|
Percentage
|
Robert C.
Armstrong
|
125,283,995
|
98.53%
|
1,864,408
|
1.47%
|
C. Brian
Cramm
|
125,283,995
|
98.53%
|
1,864,408
|
1.47%
|
Jan R.
Horejsi
|
125,283,995
|
98.53%
|
1,864,408
|
1.47%
|
Clifford
M. James
|
125,283,995
|
98.53%
|
1,864,408
|
1.47%
|
David
Moscovitz
|
125,398,495
|
98.62%
|
1,749,908
|
1.38%
|
PricewaterhouseCoopers LLP was reappointed as the external
auditor of TVI and will hold office until the next annual meeting
at such remuneration as may be determined by the directors of the
Company. Approximately 99.82% of the votes cast supported the
appointment of the auditor, while 0.18% were withheld.
Shareholders also approved TVI'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 from time to time.
TVI's Stock Option Plan was previously approved at the Annual
Meeting of Shareholders on June 22,
2017, but annual approval of the rolling option plan is
required by the TSX Venture Exchange. The currently approved
plan will remain valid until the 2019 Annual Meeting of
Shareholders. Of the 127,148,403 eligible votes cast, 98.08%
were in favour of the Stock Option Plan, while 1.92% were
against.
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on the
acquisition of resource projects in the Asia Pacific region. TVI currently holds
a 30.66% equity interest in TVIRD and a 4.93% equity interest in
Integrated Green Energy Solutions Ltd, a publicly listed company
incorporated in Australia with
shares listed on the ASX, that is engaged in the commercialization
of technologies related to converting waste plastics to fuel in
Australia and
internationally. TVI's other holdings include a 14.4% equity
interest in Mindoro Resources Ltd.; a 10% interest in the Amazon
Bay Iron Sands project in Papua New
Guinea; and a 100% investment in shares of TG World.
As at the date of this announcement, TVI has 655,537,049
outstanding common shares and 698,987,039 fully diluted including
the currently issued outstanding options of
43,450,000.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING
STATEMENTS
Certain information set out in this News Release constitutes
forward-looking information. 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, 2017, which was filed on
SEDAR on April 19, 2018 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.
SOURCE TVI Pacific Inc.