Golden Tag Announces Date of Annual General and Special Shareholder Meeting

Nachrichtenquelle: globenewswire
01.07.2020, 03:09  |  138   |   |   

TORONTO, June 30, 2020 (GLOBE NEWSWIRE) -- Golden Tag Resources Ltd. (“Golden Tag” or the "Company") (TSX.V: GOG) announces that it will hold an annual and special meeting of shareholders (the “Meeting”) on August 4, 2020. The record date for the shareholders entitled to vote at the Meeting has been set as at the close of business of June 22, 2020.

The board of directors of the Company proposes to adopt an amended and restated By-Law No. 1 – General Corporate By-Law, relating to general corporate matters (the “General By-Law”), which rescinds and replaces the Company’s existing general corporate by-law. The General By-Law, among other provisions, contains provisions to ensure that the Company’s by-law remains consistent with evolving corporate laws and governance practices and guidelines. The General By-Law will become effective upon confirmation by shareholders at the Meeting.

The board of directors of the Company has adopted a new 10% rolling incentive stock option plan (the “New Plan”) to replace the previous fixed number stock option. The New Plan is subject to the approval of the TSX Venture Exchange (the “TSXV”) and of shareholders of the Company at the Meeting.  These items of business and related items of business will be described in the information circular in respect of the Meeting to be posted under the Company’s profile on www.sedar.com.

On May 28, 2020, the Company announced that Mr. Greg McKenzie, President and Chief Executive Officer of the Company, was granted certain one-year nomination rights under the Investment Agreement dated May 19, 2020, pursuant to which he could appoint up to two directors of the Company. Mr. McKenzie has waived his rights to nominate a second director following the appointment of Tom English as director. Further, Mr. McKenzie has waived his one-year right to appoint successor directors (except with respect to his or Mr. Tom English’s successor).

Pursuant to its 2004 Incentive Stock Option Plan, as amended on June 30, 2008, the Company has granted 1,000,000 incentive stock options to certain Directors, who previously did not receive any awards, having an exercise price of $0.125 which vest over time and are exercisable for a period of up to 5 years.

Golden Tag Resources Ltd. is a junior exploration company exploring for high-grade silver deposits. The Company holds a 100% interest in the San Diego property in Durango State, Mexico. The San Diego property is located within the Velardeña Mining District, the site of several mines having produced silver, zinc, lead and gold over the past century. For more information regarding the San Diego property please visit our website at www.goldentag.ca. Golden Tag has no debt, 129,806,558 shares issued and outstanding, as well cash balances of approximately $2.1 million.

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