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Contango ORE, Inc. Announces Results of the Annual Meeting of Stockholders; Calendar Year 2021 Budget for Joint Venture Company

Nachrichtenquelle: Business Wire (engl.)
12.12.2020, 01:18  |  155   |   |   

Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that the Company held its annual meeting of stockholders on December 11, 2020 and the following directors were elected to serve until the 2021 annual meeting of stockholders:

Brad Juneau
Rick Van Nieuwenhuyse
Joseph S. Compofelice
Joseph G. Greenberg
Richard A. Shortz

The following proposals were also approved by the stockholders:

  1. The ratification of the appointment of Moss Adams LLP as the independent auditors of the Company for the fiscal year ending June 30, 2021;
  2. The approval of an amendment to the Company’s Certificate of Incorporation to increase the number of authorized shares of its common stock from 30,000,000 shares to 45,000,000 shares;
  3. The approval, on a non-binding advisory basis, of the compensation of the Company’s named executive officers;
  4. The approval, on a non-binding advisory basis, of an annual advisory vote on the compensation of the Company’s named executive officers; and
  5. The grant of discretionary authority to the Chairman of the Annual Meeting to adjourn the Annual Meeting, if necessary to solicit additional proxies.

Additionally, the Company’s Board of Directors re-appointed the following officers of the Company:

Brad Juneau - Executive Chairman of the Board

Rick Van Nieuwenhuyse - President and Chief Executive Officer

Leah Gaines - Vice President, Chief Financial Officer, Chief Accounting Officer, Treasurer and Secretary

On December 10, 2020, the Management Committee of Peak Gold, LLC (“Peak Gold”), the Company’s joint venture with Kinross Gold Corporation (“Kinross”) approved a total budget of $18 million for calendar year 2021 to undertake in-fill drilling, engineering and environmental studies necessary to complete a Feasibility level study, additional exploration, community relations and ready the project for formal permitting. The Company’s proportionate share of the approved budget is approximately $5.4 million.

Rick Van Nieuwenhuyse, the Company’s President and CEO commented, “CORE’s stockholders have overwhelmingly supported the board and management as we chart a clear path to achieve commercial production at the Peak Gold project along with our partners at Kinross Gold and the Tetlin Alaska Native Tribe. We are completing an expected $3.6 million fourth quarter calendar year drill and environmental program at the Peak Gold site. We have also approved an $18 million Peak Gold budget (CORE’s share is $5.4 million) for calendar year 2021 to undertake in-fill drilling, engineering and environmental studies necessary to complete a Feasibility level study, additional exploration, community relations and ready the project for formal permitting. It is exciting to see the tangible progress being made to advance the Peak Gold resource.”

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Disclaimer

Contango ORE, Inc. Announces Results of the Annual Meeting of Stockholders; Calendar Year 2021 Budget for Joint Venture Company Contango ORE, Inc. (“CORE” or the “Company”) (OTCQB: CTGO) announced today that the Company held its annual meeting of stockholders on December 11, 2020 and the following directors were elected to serve until the 2021 annual meeting of stockholders: …

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