Business
KWG Resources Announces Results of Annual and Special Shareholders' Meeting
Toronto, Ontario--(Newsfile Corp. - February 8, 2023) - KWG Resources Inc. (CSE: KWG) (FSE: KW61) ("KWG" or the "Company") is pleased to announce the results of
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[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - February 8, 2023) - KWG Resources Inc. (CSE: KWG) (FSE: KW61) (\"KWG\" or the \"Company\") is pleased to announce the results of the annual and special meeting of shareholders (the \"Meeting\") held on February 7, 2023. Shareholders holding an aggregate of 650,247,304 votes (32.63% of the outstanding votes) were present or represented by proxy at the Meeting. The shareholders voted in favour of all four items tabled at the Meeting, namely: (i) the re-appointment of McGovern Hurley LLP as auditors of the Company, which was approved by 99.56% of the votes cast by shareholders present in person or represented by proxy at the Meeting, (ii) setting the number of directors (between the minimum and maximum prescribed by the Company's articles) at eight (8), which was approved by 98.99% of the votes cast by shareholders present in person or represented by proxy at the Meeting; (iii) the election of the eight nominees listed in the management information circular dated January 3, 2023 as directors of the Company for the ensuing year or until their successors are elected or appointed; and (iv) the amendment to the Company's stock option plan, which was passed by 93.38% of the votes cast by shareholders present in person or represented by proxy at the Meeting. At the Meeting, the shareholders approved the expansion of the Company's board of directors from five to eight and three nominees to fill these newly created positions were elected as directors of the Company, namely Megan McElwain, who is the current President of the Company, Corina Moore, who is the former President and Chief Executive Officer of the Ontario Northland Transportation Commission, and Rajesh Sharma, who is the current Chief Executive Officer of Fancamp Exploration Ltd.. Following the Meeting, the newly-elected board of directors approved the grant of stock options on 120,000 multiple voting shares to each of the newly elected directors, namely Megan McElwain, Corina Moore and Rajesh Sharma, with each option being exercisable to purchase one multiple-voting share at a price of $2.85 within 5 years from the date of the grant. About KWG: KWG is the owner of 100% of the Black Horse chromite project (formerly part of Fancamp's \"Koper Lake-McFaulds\" properties). Bold Ventures Inc. is carried through exploration of the former Fancamp cl...