Business
Aurania Shareholders Approve All Resolutions at Annual and Special Meeting
Toronto, Ontario--(Newsfile Corp. - June 14, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: ...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Shareholders Approve All Resolutions at Annual and Special MeetingToronto, Ontario--(Newsfile Corp. - June 14, 2023) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") is pleased to announce that its shareholders have approved all resolutions at the Company's Annual and Special Meeting (the \"Meeting\") which was held on June 14, 2023. At the Meeting, shareholders approved the financial statements for the year-ended December 31, 2022, and the report of the auditors thereon, the appointment of auditors, election of directors, amendments to the Company's restricted stock unit plan and the Company's incentive stock option plan for the upcoming year. Details of these matters are disclosed in the Management Information Circular for the Meeting dated May 2, 2023, and posted under the Company's profile on www.sedar.com and on the Company's corporate website http://www.aurania.com/investors/annual-general-meeting/. The formal part of the Meeting was followed by an update from Aurania's President & CEO, Dr. Keith Barron. A summary of Keith Barron's update will be provided in the coming days.The Company also announces that its Chairman, President and Chief Executive Officer, Dr. Keith Barron (the \"Lender\") completed a loan of C$2,000,000 to the Company. The loan is unsecured, bears interest at 2% per annum and matures upon notice of twelve months and one day from the Lender. The loan will help fund the Company's working capital and general corporate purposes as well as any exploration expenses in Ecuador. Dr. Keith Barron is a related party of the Company by virtue of the fact that he is the Chairman, the President and Chief Executive Officer, a promoter and a principal shareholder of the Company, and as a result, each of the Loan constitutes a \"related party transaction\" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is relying upon an exemption from the formal valuation and minority shareholder approval requirements under MI 61-101 in respect of the Related Party Transactions, in reliance on Sections 5.5(a) and 5.7(1) of MI 61-101, respectively, as the fair market value of the Related Party Transaction, collectively, does not exceed 25% of the Company's market capitalization, as ...