Erdene Announces Results of Annual and Special Meeting of Shareholders
HALIFAX, NOVA SCOTIA--(Marketwired - Jun 15, 2017) - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to announce its shareholders voted in favour of all items of business brought before them at the Company's Annual and Special Meeting of Shareholders ("AGM") held on June 14, 2017 in Halifax, Nova Scotia. Details of the AGM are provided below.
Appointment of Board and Executive
At the AGM, shareholders voted in favor of Erdene management's nominees to the board of directors, with details of the vote as follows:
| Nominee | Votes For | % For | Votes Withheld | % Withheld | ||
| Peter Akerley | 67,759,961 | 99.98 | % | 11,725 | 0.02 | % |
| Dr. Anna Biolik | 67,759,186 | 99.98 | % | 12,500 | 0.02 | % |
| William Burton | 67,765,265 | 99.99 | % | 6,421 | 0.01 | % |
| John Byrne | 67,770,686 | 100.00 | % | 1,000 | 0.00 | % |
| J.C. (Chris) Cowan | 67,755,336 | 99.98 | % | 16,350 | 0.02 | % |
| T. Layton Croft | 67,755,336 | 99.98 | % | 16,350 | 0.02 | % |
| David Mosher | 67,771,686 | 100.00 | % | 0 | 0.00 | % |
| Philip Webster | 67,770,686 | 100.00 | % | 1,000 | 0.00 | % |
Following the AGM, Erdene's board of directors appointed its executive officers for the coming year, namely: President and Chief Executive Officer - Peter Akerley; Chairman of the Board - Chris Cowan; Vice President and Chief Financial Officer - Ken MacDonald; and Corporate Secretary - Suzan Frazer.
Auditor Re-Appointed
KPMG LLP was re-appointed Auditor of the Company to hold office until the next AGM or until its successor is duly appointed.
Shareholder Rights Plan Affirmed
At the AGM, shareholders also affirmed the continuance and amendment and restatement of the shareholder rights plan ("Rights Plan") that had been approved by shareholders at the annual shareholder meetings in May 2008, June 2011, and June 2014. The Rights Plan was adopted by Erdene's board of directors to ensure the fair treatment of shareholders in connection with any takeover offer for the Company. Under the rules of the Toronto Stock Exchange the shareholders of Erdene must affirm the Rights Plan every three years.
About Erdene
Erdene Resource Development Corp. (TSX:ERD) is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia. Exploration success has led to the discovery and definition of several 100%-owned prospects and deposits including the Company's flagship and newly discovered, high-grade, near-surface Bayan Khundii gold project where two drill rigs are currently operational; the 5.6 km long Altan Nar gold-polymetallic mineralized trend that is host to 18 targets; the Altan Arrow gold-silver prospect; and the Zuun Mod molybdenum-copper deposit. In addition to the above properties, the Company has an Alliance with Teck Resources Ltd. on regional copper-gold exploration in the prospective Trans Altai region of southwest Mongolia. For further information on the Company, please visit www.erdene.com. Erdene has 145,550,586 issued and outstanding common shares and a fully diluted position of 156,592,160 common shares.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by many factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
Contact
Erdene Resource Development Corp.
Peter C. Akerley, President and CEO
Ken W. MacDonald, Vice President and CFO
(902) 423-6419
info@erdene.com / www.erdene.com
Twitter: https://twitter.com/ErdeneRes
