Business
CMX Provides Update on AGM
(via TheNewswire) Toronto, ON / TheNewswire / November 23, 2018 . Chilean Metals Inc....
About this update from Power Metallic Mines Inc.
[{"type":"text","content":"CMX Provides Update on AGM(via TheNewswire)\n \n \nToronto, ON / TheNewswire / November 23, 2018. Chilean Metals Inc. (\"Chilean Metals,\" \"CMX\" or the \"Company\") (TSX.V:CMX, OTCQB: CMETF, SSE:CMX, MILA:CMX, FRA: IVV1, BER : IVV1) is pleased to announce the results of its annual general and special meeting which was held on November 23, 2018. In accordance with the TSX Venture Exchange (\"Exchange\") decision of July 27, 2018, and as confirmed by the BC Securities Commission order (with reasons to follow) issued on November 21, 2018 (after the time of proxy cut-off for the meeting), the Company excluded the shares that were issued in the private placement completed in June 2018 from the votes tabulated at the meeting by AST Trust Company (Canada). As explained in previous Company news releases such shares have not yet received formal Exchange acceptance. \n\n \n \nBased on these premises, with none of the private placement shares tabulated, the directors nominated by the Company, Michael Sharry, Terry Lynch, Peter Kent, Les Mallard and Greg McKenzie were duly elected and all other items put forward in the Company's information circular dated October 22, 2018 were approved - appointment of auditors, approval of the settlement shares, ratification of the Advance Notice Policy and ratification of the stock option plan. \n\n \n \nAs previously announced on October 5, 2018, the Board had approved an Advance Notice Policy. The full policy was disclosed to shareholders by way of its October 5, 2018 news release. The Board's purpose in adopting the policy was to ensure that its shareholders have adequate time and information to review any proposed new directors. The policy allows shareholders time to evaluate information and so that unexpected Board nominations (from the floor of the meeting, for example) do not unreasonably impact shareholders' ability to make informed voting decisions, by the proxy cut off time, as many shareholders are not able to attend in person. The Company's October 22, 2018 information circular disclosed four additional nominations received in compliance with the Advance Notice Policy. With none of the private placement shares tabulated, the dissident nominees received substantially less votes than the management nominees and accordingly were not elected. \n\n\n \n\n\n\n \nThe Company hopes to promptly move ...