Vancouver, British Columbia--(Newsfile Corp. - July 4, 2022) - Keon Capital Inc. (TSXV: KEON.H) ("Keon", or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of holders of common shares (the "Shareholders") of the Company held on June 30, 2022 (the "Meeting"). Of the 1,915,728 Company shares issued and outstanding as at the May 26, 2022 record date, 817,029 shares (42.65%) were represented and voted at the Meeting.
All the matters put forward before Shareholders for consideration and approval as set out in the Company's management information circular dated May 26, 2022 (the "Circular") were approved by the requisite ordinary and special majorities of votes cast at the Meeting.
Election of Directors
All three of the management nominees disclosed in Keon's Circular for election to the Company's board of directors - William Murray, Murray Oliver and John McCleery - were duly elected, in each case with 815,990 (99.87%) votes cast FOR and 1,039 (0.13%) votes WITHHELD. The directors will remain in office until the next annual meeting of the Company's shareholders or until their successors are elected or appointed.
Appointment of Auditors
The Shareholders reappointed Davidson & Company LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor.
Approval of New Stock Option Plan
The Company's new stock option plan was approved by the Shareholders, with 73.51% of shares represented at the Meeting voting in favour. Of the remaining shares represented at the Meeting, the approximately 26.49% of the shares held by interested Shareholders were excluded from the vote on the stock option plan.
Sale of Mexican Subsidiary
The special resolution, requiring the support of at least 2/3rds of the votes cast, to ratify the December 2019 sale of the Company's Mexican subsidiary, Minera Fumarola S.A. de C.V. pursuant to subsection 301(3)(b) of the Business Corporation Act (BC), was approved by 815,990 votes attached to 99.87% of the shares represented at the Meeting, with the remaining 1,093 shares (0.13%) voted against.
The Company also announces that Nick Furber has resigned as the Company's Chief Financial Officer. The Board of Directors would like to thank Mr. Furber for his contributions to the Company and wish him every success in his future endeavors.
The Company is also pleased to announce that John McCleery has been appointed President and Chief Executive Officer of the Company and Luke Montaine has been appointed Chief Financial Officer and Corporate Secretary of the Company.
Mr. McCleery is a mining entrepreneur with over 40 years experience in resource exploration, development and financing of projects globally. Most recently Mr. McCleery co-founded Creston Moly and served as Director and Head of Corporate Development where he spearheaded over $40 million in equity financing to acquire and advance the El Creston project in Mexico. Under his co-leadership, the El Creston project advanced to become Mexico's largest molybdenum deposit, advancing through to pre-feasibility in under two years, and was subsequently acquired by Mercator Minerals for $195 million.
Mr. McCleery has established a reputation as the catalyst behind various successful start-up and early-stage resource companies bringing new sources of projects and capital.
Mr. Montaine has been involved in the capital markets for over 18 years in various capacities, including the roles of investment advisor, corporate development, corporate finance, and has organized fund raising for many venture capital and private equity companies, raising over $50 million.
After studying economics at the University of British Columbia, Mr. Montaine began his career as an investment advisor at Global Securities Corporation, a boutique securities and futures brokerage firm in Vancouver, British Columbia, prior to it being acquired by PI Financial Corp. Mr. Montaine has extensive experience in structuring, financing and sourcing assets for various public and private companies.
Mr. Montaine currently serves as CEO and director of Ord Mountain Resources Corp., which is in the process of doing a transaction with a local airline - BluSky Aviation/Cascadia Airlines. In addition, Mr. Montaine is the CEO of Elephant Capital Corp. a uranium company with operations in New Mexico which has announced an RTO with Evolving Gold, and recently closed $5 million subscription receipts financing to complete the transaction. Mr. Montaine also serves as the CEO of Roadman Investments Corp. a publicly traded investment issuer.
On behalf of the Board of Directors
Chairman and Director
Tel: (604) 288 2553
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