Wesdome Gold Mines Announces Results of Annual General and Special Meeting
TORONTO, June 02, 2020 - Wesdome Gold Mines Ltd. (TSX: WDO) (the “Company”) announces the results of the Company’s annual general meeting of shareholders (the “Meeting”) held by way of live webcast earlier today. A replay of the Meeting is available on the Company’s website.
A total of 71,804,870 common shares were represented at the Meeting, representing 51.86% of the total issued and outstanding common shares of the Company.
All matters presented for shareholder approval at the Meeting were approved, as follows:
| a) | Appointment of Grant Thornton LLP as auditors of the Company for the ensuing year and authorizing the directors of fix their remuneration; |
| b) | Election of the directors of the Company for the ensuing year; |
| c) | Approval of the 2020 Omnibus Equity Incentive Plan; and |
| d) | Approval of an advisory non-binding resolution accepting the approach to executive compensation disclosed in the Management Information Circular of the Corporation dated April 20, 2020 |
Election of Directors
The following seven individuals were elected as directors of the Company, until the next annual meeting of shareholders, as set out in the table below:
| Name of Nominee | Votes cast FOR | % of votes cast FOR | Votes cast WITHHELD | % of votes cast WITHHELD |
| Charles Main | 70,953,866 | 98.82 | 850,642 | 1.18 |
| Duncan Middlemiss | 71,789,383 | 99.98 | 15,125 | 0.02 |
| Nadine Miller | 70,608,724 | 98.33 | 1,195,784 | 1.67 |
| Warwick Morley-Jepson | 70,366,784 | 98.00 | 1,437,724 | 2.00 |
| Brian Skanderbeg | 71,156,324 | 99.10 | 648,184 | 0.90 |
| Edie Thome | 71,468,893 | 99.53 | 335,615 | 0.47 |
| Bill Washington | 70,863,667 | 98.69 | 940,841 | 1.31 |
Re-Appointment of Auditors
Based on proxies received and votes cast by show of hands during the Meeting, Grant Thornton LLP, Chartered Accountants, were appointed as independent auditors of the Company for the ensuing year and the directors are authorized to fix their remuneration, with the following results:
| Votes cast FOR | % of votes cast FOR | Votes cast WITHHELD | % of votes cast WITHHELD | |
| Appointment of Auditors | 70,895,409 | 98.73 | 909,099 | 1.27 |
Approval of the 2020 Omnibus Equity Incentive Plan
Based on proxies received and votes cast by ballot during the Meeting, the 2020 Omnibus Equity Incentive Plan was approved, with the following results:
| Votes cast FOR | % of votes cast FOR | Votes cast AGAINST | % of votes cast AGAINST | |
| 2020 Omnibus Equity Incentive Plan | 65,935,072 | 91.83 | 5,869,436 | 8.17 |
Advisory Vote on Executive Compensation
Based on proxies received and votes cast by ballot during the Meeting, the advisory non-binding resolution accepting the approach to executive compensation disclosed in the Management Information Circular of the Corporation dated April 20, 2020 was approved, with the following vote result:
| Votes cast FOR | % of votes cast FOR | Votes cast AGAINST | % of votes cast AGAINST | |
| Advisory Vote on Executive Compensation | 69,507,571 | 96.80 | 2,296,937 | 3.20 |
Please refer to the Company’s Report of Voting Results filed on SEDAR at www.sedar.com for further details on the above matters.
ABOUT WESDOME
Wesdome Gold Mines has had over 30 years of continuous gold mining operations in Canada. The Company is 100% Canadian focused with a pipeline of projects in various stages of development. The Company’s strategy is to build Canada’s next intermediate gold producer, producing 200,000+ ounces from two mines in Ontario and Quebec. The Eagle River Complex in Wawa, Ontario is currently producing gold from two mines, the Eagle River Underground Mine and the Mishi Open pit, from a central mill. Wesdome is actively exploring its brownfields asset, the Kiena Complex in Val d’Or, Quebec. The Kiena Complex is a fully permitted former mine with a 930-metre shaft and 2,000 tonne-per-day mill. The Company has further upside at its Moss Lake gold deposit, located 100 kilometres west of Thunder Bay, Ontario. The Company has approximately 138.5 million shares issued and outstanding and trades on the Toronto Stock Exchange under the symbol “WDO”.
For further information, please contact:
| Duncan Middlemiss | or | Lindsay Carpenter Dunlop |
| President and CEO | VP Investor Relations | |
| 416-360-3743 ext. 2029 | 416-360-3743 ext. 2025 | |
| duncan.middlemiss@wesdome.com | lindsay.dunlop@wesdome.com | |
| 220 Bay St, Suite 1200 | ||
| Toronto, ON, M5J 2W4 | ||
| Toll Free: 1-866-4-WDO-TSX | ||
| Phone: 416-360-3743, Fax: 416-360-7620 | ||
| Website: www.wesdome.com |
PDF available: http://ml.globenewswire.com/Resource/Download/458edc19-2258-4a27-81a7-2897eef9ffb1
