ELMGF - Element79 Gold Announces Special Meeting Results
(TheNewswire)
Vancouver, BC - The N ewswire - December 19, 2023- Element79 GoldCorp. (CSE:ELEM)(OTC:ELMGF)(FSE:7YS) ("Element79 Gold", the"Company") is pleased to announce thevoting results from its Special Meeting of Shareholders (the"Meeting"), held on December 19, 2023.
Shareholders voted in favour of all matters of businessbefore the Meeting. Each of those matters is set out in detail in theManagement Information Circular published in connection with theMeeting, which is available on the Company's website www.element79.gold . A totalof 14,038,535 common shares, representing approximately 10.76% of theCompany's outstanding common shares, were voted in person and by proxyat the Meeting.
All of the resolutions presented to the shareholders wereoverwhelmingly approved, including approval by an ordinary resolutionof the insider shares for debt, and disinterested shareholder approvalby special resolution of the proposed conversion of an existing loanowed by the Corporation to Tellus LLC (“Tellus”) into CommonShares at an issue price of Cdn $0.10 per Common Share, as moreparticularly described in the Circular, and the creation of Tellus asa new Control Person, subject to regulatory approval.
About Element79 Gold
Element79 Gold is a mining company focused on gold andsilver committed to maximizing shareholder value through responsiblemining practices and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing,high-grade gold and silver mine, the Lucero project located inArequipa, Peru, with the intent to restart production in the nearterm.
The Company also holds a portfolio of 5 propertiesalong the Battle Mountain trend in Nevada, with the Clover and WestWhistler projects believed to have significant potential for near-termresource development. Three properties in the Battle MountainPortfolio are under contract for sale to Valdo Minerals Ltd., with ananticipated closing date around the end of Q1/2024. The Company hasalso signed an Option Agreement to sell the Maverick Springs project,an advanced-stage exploratory property with an Inferred Resource of3.71MMoz AuEq (1.37MMoz Au and 175MMoz Ag) and anticipates completingthis sale on or before March 28, 2024.
In British Columbia, Element79 Gold has executed aLetter of Intent and funded a drilling program to acquire a privatecompany that holds the option to 100% interest of the SnowbirdHigh-Grade Gold Project, which consists of 10 mineral claims locatedin Central British Columbia, approximately 20km west of Fort St.James.
The Company has an option to acquire a 100% interest inthe Dale Property, 90 unpatented mining claims located approximately100 km southwest of Timmins, Ontario, and has recently announced thatit has transferred this project to its wholly-owned subsidiary,Synergy Metals Corp, and is advancing through the Plan of Arrangementspin-out process through Q1 2023.
For more information about the Company, please visit www.element79.gold
Contact Information:
James C. Tworek, Chief Executive OfficerE-mail : jt@element79gold.com
For investor relations inquiries,please contact:
Investor Relations Department
Phone: +1.403.850.8050
E-mail: investors@element79.gold
Neither the Canadian SecuritiesExchange nor the Market Regulator (as that term is defined in thepolicies of the Canadian Securities Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
Copyright (c) 2023 TheNewswire - All rights reserved.