Business
Trigon Metals Announces Results of Annual and Special Meeting of Shareholders
TORONTO / Apr 09, 2024 / Business Wire / Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that, at its annual and special meeti
About this update from Safi Silver Corp.
[{"type":"text","content":"TORONTO / Apr 09, 2024 / Business Wire / Trigon Metals Inc. (TSX-V: TM) (“Trigon” or the “Company”) is pleased to announce that, at its annual and special meeting of Trigon shareholders that took place on April 9, 2024 (the “Meeting”), Trigon shareholders approved all matters put before them, including: (i) the proposed spinout of Trigon’s wholly-owned subsidiary, Safi Silver Corp. (“Spinco ”), which holds the Company’s Moroccan assets, namely the Silver Hill and Addana projects, pursuant to a plan of arrangement under section 192 of the Canada Business Corporations Act (the “Proposed Arrangement”); and (ii) the consolidation of Trigon common shares on the basis of one (1) post-consolidation Trigon common share for each five (5) pre-consolidation Trigon common shares (the “Share Consolidation”). The Proposed Arrangement and the Share Consolidation was approved by Trigon shareholders at the Meeting. The approved resolutions are as follows: Election of Board of Directors: Shareholders elected each of the seven management nominees as directors of the Company for the ensuing year. The elected directors are: • Mohammed Benharref • Daye Kaba • Gabriel Ollivier • Jed Richardson • David Shaw • Grant Sboros • Larissa Sprott Appointment of Auditor: Shareholders approved the appointment of the auditor. Stock Option Plan: The Company’s stock option plan (the “Option Plan”) was re-approved in accordance with the requirements of the TSX Venture Exchange (the “TSXV”). Share Consolidation: Shareholders endorsed the consolidation of Trigon common shares on the basis of one (1) post-consolidation Trigon common share for each five (5) pre-consolidation Trigon common shares. The Proposed Arrangement (Safi Silver Spinout): Shareholders gave their overwhelming support for the proposed spinout of Trigon’s wholly-owned subsidiary, Safi Silver Corp. (“Spinco”), which holds the Company’s Moroccan assets, namely the Silver Hill and Addana projects. The spinout is pursuant to a plan of arrangement under section 192 of the Canada Business Corporations Act (the “Proposed Arrangement”). Jed Richardson, CEO & Executive Chairman of Trigon Metals, commented, \"We are pleased to have the recommendations of the board supported by the shareholders, with particular focus on the spinout of the Moroccan Assets into Safi Silver., to realize the currently unrcognize...