VANCOUVER, BC / December 30, 2021 / iMetal Resources, Inc. (TSX.V:IMR) (OTC PINK:ADTFF) (FRANKFURT:A7V2) (“iMetal” or the “Company“) is pleased to release the results of its Annual General Meeting of shareholders which was held on December 20, 2021, at its corporate offices located at Suite 550, 800 West Pender Street, Vancouver, B.C.
All matters submitted to the shareholders for approval, as set out in the Company’s notice of meeting and information circular, were approved by an overwhelming majority of votes cast.
At the meeting, the shareholders re-elected the following directors:
Satvir S. Dhillon;
R. Timothy Henneberry;
Approved the reappointment of Davidson & Company LLP, Chartered Professional Accountants, as auditors of the Company, and ratified the existing incentive stock option plan of the Company. Shareholders also approved a potential consolidation of up to 20 for 1, to be implemented at the discretion of the Board of Directors.
Following the meeting, the Board of Directors resolved to proceed with a consolidation on the basis of five (5) old shares for one (1) new share. The Company currently has 51,370,372 common shares outstanding and, following completion of the consolidation, it is expected that the Company will have approximately 10,274,074 common shares outstanding.
The Company will provide further details regarding the consolidation, along with the effective date, as soon as they become available. Completion of the consolidation remains subject to the approval of the TSX Venture Exchange.
“On behalf of the board of directors, I would like to take this opportunity to thank the Company’s shareholders for their continued support throughout the past year,” commented Saf Dhillon, Chief Executive Officer and President of the Company.
About iMetal Resources Inc.
A Canadian based junior exploration company focused on the exploration and development of its portfolio of resource properties in Ontario and Quebec. iMetal is focused on advancing its Gowganda West Project that borders the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.
ON BEHALF OF THE BOARD OF DIRECTORS,
President & CEO
iMetal Resources Inc.
Suite 550, 800 West Pender Street, Vancouver, British Columbia, V6C 2V6.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include results of exploration, variations in results of mineralization, relationships with local communities, market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.