Midnight Sun Shareholders Approve Rio Tinto Agreement
Vancouver, September 14, 2020 - Midnight Sun Mining Corp.(TSXV: MMA) (the "Company" or "Midnight Sun") is pleased to announce the Company's shareholders have approved the previously announced earn-in and joint venture agreement with Rio Tinto Mining and Exploration Limited ("Rio Tinto") (see news release dated April 27, 2020 for more information).
SHAREHOLDER APPROVAL OF RIO TINTO AGREEMENT
At Midnight Sun's annual general and special meeting of shareholders (the "Meeting") held on September 14, 2020 at Vancouver, British Columbia, the Company's shareholders voted overwhelmingly in support of the resolution approving the earn-in and joint venture agreement with Rio Tinto. Of the 27,042,013 shares voted at the meeting, 99.83% voted in favour of the resolution.
Al Fabbro, Interim President and Chief Executive Officer, stated, "We are excited to have received strong shareholder support for our agreement with Rio Tinto. I maintain my belief this is the best path to create significant value for Midnight Sun shareholders."
ANNUAL GENERAL AND SPECIAL MEETING RESULTS
The Company also reports all resolutions set out in the Company's Notice of Meeting and Information Circular, both dated August 14, 2020, passed at the Meeting.
Number of Directors
Shareholders approved setting the number of directors at five.
Election of Directors
| Votes For | Votes Withheld | |||
| Director | # | % | # | % |
| Allan J. Fabbro | 26,778,113 | 99.02% | 263,900 | 0.98% |
| Brett A. Richards | 26,657,613 | 98.58% | 384,900 | 1.42% |
| Robert Sibthorpe | 26,778,113 | 99.02% | 236,400 | 0.98% |
| Richard Mazur | 26,996,113 | 99.83% | 45,900 | 0.17% |
| Wayne Moorhouse | 26,967,613 | 99.72% | 74,400 | 0.28% |
All nominated directors were elected to serve on the board of Midnight Sun. Youwei (Tom) Ye did not stand for re-election and the Company thanks him for his valuable service as a director.
Appointment of Auditors
Davison & Company LLP. Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.
Stock Option Plan
Shareholders ratified and approved the continuation of the Company's 10% rolling Stock Option Plan.
ON BEHALF OF THE BOARD OF Midnight Sun Mining Corp.
Al Fabbro - Lead Director & Interim Chief Executive Officer
For Further Information Contact:
Al Fabbro
Lead Director
Tel: +1 604 351 8850
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63780
