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Search Minerals Announces Results of Annual General Meeting of Shareholders and Grant of Stock Options
St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - July 28, 2025) - Search Minerals Inc. ( T...
About this update from Search Minerals Inc.
[{"type":"text","content":"Search Minerals Announces Results of Annual General Meeting of Shareholders and Grant of Stock OptionsSt. Lewis, Newfoundland and Labrador--(Newsfile Corp. - July 28, 2025) - Search Minerals Inc. (TSXV: SMY) (\"Search Minerals\" or the \"Company\") is pleased to announce the results of its annual general meeting of shareholders held on July 24, 2025 (the \"Meeting\"). ELECTION OF DIRECTORSAt the Meeting, all the nominees for re-election as director were re-elected to serve until the next annual general meeting of shareholders. Following the Meeting, the Company's board of directors is comprised of Joseph Lanzon, Rohan Hazelton and Diane Poole. APPOINTMENT OF AUDITORAt the Meeting, the Company's shareholders approved the reappointment of Mao & Ying LLP Chartered Accountants as the Company's auditors for the ensuing year and authorized the board of directors to fix the auditors' remuneration.APPROVAL OF STOCK OPTION PLAN AND RESTRICTED SHARE UNIT PLANAt the Meeting, shareholders approved the Company's 10% rolling stock option plan and the Company's restricted share unit plan, each as described in the management information circular dated June 12, 2025 in respect of the Meeting. As a rolling plan, the stock option plan requires annual shareholder approval in accordance with TSX Venture Exchange policies. As a fixed plan, the restricted share unit plan only requires further shareholder approval if the number of shares issuable under the plan is amended. Both plans remain subject to the final acceptance of the TSX Venture Exchange, to the extent required.\"We are deeply grateful to our shareholders for their overwhelming support in re-electing the Board of Directors,\" said Joseph Lanzon, CEO and Director. \"This vote of confidence affirms our strategic vision and strengthens our mandate to advance Search Minerals' critical rare earth element portfolio. Together, with a focused, capable team, we are ready to accelerate the next phase of growth.\"GRANT OF STOCK OPTIONSThe Company also wishes to announce that the Board of Directors has granted an aggregate of 800,000 stock options to the directors of the Company under its 10% rolling stock option plan. The options are exercisable at a price of $0.33 per common share for a period of five years. 50% of the options vest immediately, with the remaining 50% vesting in one year. The stoc...