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Medallion Resources Announces Results of Annual General and Special Meeting of Shareholders
VANCOUVER, British Columbia, May 27, 2022 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN – “Medallion” or the “Company”
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, May 27, 2022 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN – “Medallion” or the “Company”) is pleased to announce that shareholders have approved all resolutions put forth at the Annual General and Special Meeting of Shareholders (the “Shareholders’ Meeting”) held in Vancouver, BC, on May 27, 2022. In the annual meeting, 34.86% of the eligible shares were represented and all motions put forward by the Company were passed. The number of directors of the Company was fixed at six and Mark Saxon, Rod McKeen, David Shaw, Andrew Morden, Gabriel Alonso-Mendoza and Kurt Forrester were elected as directors of the Company to hold office until the next annual general meeting. Davidson LLP was re-appointed as auditors of the company and the board is authorized to fix the remuneration to be paid to the auditors. 95.4% of the Medallion shareholders other than directors, who were not eligible to vote, voted in favor of the Up-Listing Resolution authorizing the Company to proceed with its plans to list on the Nasdaq Capital Market (“NasdaqCM”) and, at the board’s discretion, delist from the Tier 2 of the TSX Venture Exchange. 100% of all shareholders voted in favor of a share consolidation at a consolidation ratio sufficient to meet the Initial Listing Requirements of NasdaqCM, namely a US$4.00 per share minimum bid price, up to a maximum consolidation ratio of 90 pre-consolidation shares for each post-consolidation share. “Today’s result in support of the Company’s new Strategic Plan outlined in our news release dated April 26, 2022 is an important step towards listing on Nasdaq and strengthening the management team to commercialize Medallion’s rare earth element processing technologies and establish other technologies to support the clean energy transition,” Mark Saxon, President & CEO stated. About Medallion Resources Medallion Resources (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue Research ...