(TheNewswire)
VANCOUVER, BC – TheNewswire - April 24, 2023 - Margaret Lake Diamonds Inc.("MLD" or the "Company") (TSXV:DIA) (FKT:M85)(OTC:DDIAF) is pleased to announce the results of its AnnualGeneral and Special Meeting (“ AGSM ”), held on April 6, 2023. All resolutions presented tothe shareholders were approved with over 81.9% of votes cast being infavour of each resolution (see the SEDAR filing of the Company’s Information Circular, datedMarch 6, 2023).
As a result,
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Dale Matheson Carr-Hilton LaBonte LLP was re-appointedas the auditor of the Company.
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The number of Directors was set at three with thefollowing nominees elected as directors: Yari Nieken, QuinnField-Dyte, Andreas Schleich.
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The Company’s 10% Rolling Stock Options Plan wasre-approved.
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The Company’s Restricted Share Unit (RSU) Plan wasapproved, subject to TSX Venture Exchange approval.
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authorization to apply to voluntarily delist the CommonShares from the TSX Venture Exchange and to seek approval from theCanadian Securities Exchange, or other qualified stock exchange, tolist its securities for public trading was approved by the majority ofthe minority shareholders of the Company.
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a share consolidation of the outstanding common shareson the basis of one post-consolidated common share for up to tenpre-consolidated common shares was approved, subject to TSX VentureExchange approval.
The company has also entered into an Asset PurchaseAgreement with Elco Securities Ltd. (the “ Purchase Agreement ”) whereby the Company will sell 100% of the shares of itswholly owned subsidiary, National Uranium Corp. (“ National ”) aColorado corporation which owns 100% of the mining claims known as theMormon Lake Project, Gilia Country, Arizona (“ Mormon Lake ”) forconsideration of $30,000. Associated project branding, developedcreative content and third party sourced/compiled data and technicalpublications related to Mormon Lake will also be sold as part of thetransaction. The sale of this non-core asset is being conducted tosimplify the Company’s operations and reduce expenses related tomaintaining the asset package.
On behalf of the Board
Margaret Lake Diamonds Inc.
"Yari Nieken"
President, Chief Executive Officer, Chairman
Tel: 604.328.0425 | Email: ynieken@gmail.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Disclaimer forForward-Looking Information
Information set forth in this newsrelease may involve forward-looking statements under applicablesecurities laws. Forward-looking statements are statements that relateto future, not past, events. In this context, forward-lookingstatements often address expected future business and financialperformance, and often contain words such as “anticipate”,“believe”, “plan”, “estimate”, “expect”, and“intend”, statements that an action or event “may”,“might”, “could”, “should”, or “will” be taken oroccur, including statements that address potential quantity and/orgrade of minerals, potential size and expansion of a mineralized zone,proposed timing of exploration and development plans, or other similarexpressions. All statements, other than statements of historical factincluded herein including, without limitation, statements regardingthe use of proceeds, TSXV final approval, and the explorationpotential of the Diagras project based on historical drill results andforward-looking statements. By their nature, forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause our actual results, performance orachievements, or other future events, to be materially different fromany future results, performance or achievements expressed or impliedby such forward-looking statements. Such factors include, amongothers, the following risks: the need for additional financing;operational risks associated with mineral exploration; fluctuations incommodity prices; title matters; and the additional risks identifiedin the annual information form of the Company or other reports andfilings with the TSXV and applicable Canadian securities regulators.Forward-looking statements are made based on management’s beliefs,estimates and opinions on the date that statements are made, and theCompany undertakes no obligation to update forward-looking statementsif these beliefs, estimates and opinions or other circumstances shouldchange, except as required by applicable securities laws. Investorsare cautioned against attributing undue certainty to forward-lookingstatements.
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