Adyton Resources Corp. Files Amendment to Information Circular for Shareholders Meeting
BRISBANE, June 22, 2021 - Adyton Resources Corp. (TSX Venture: ADY) announces that it has filed an amendment (the "Amendment") to its management information circular dated May 28, 2021 (the "Information Circular") in respect of its annual and special meeting of shareholders scheduled to be held on June 28, 2021 (the "Meeting"), in order to correct certain typographical errors and update certain additional information.In the section of the Information Circular entitled "Business of the Meeting - 3. Election of Directors", the Information Circular contained a typographical error in the last name of one of the director nominees proposed for election at the Meeting, in that his name was stated as "Jason Kovac" when his correct name is "Jason Kosec". Accordingly, all references to "Jason Kovac" or "Mr. Kovac" in the Information Circular have been amended to read "Jason Kosec" or "Mr. Kosec", as applicable. The form of proxy for the Meeting also contained this typographical error and Adyton has distributed to its registered shareholders a revised form of proxy for the Meeting correcting this error. Unless authority to do so is withheld by the shareholder delivering the revised form of proxy, the persons named in the form of proxy intend to vote FOR the election of Mr. Kosec as a director. In addition, in the event that any shareholder delivers the original form of proxy for the Meeting which contained this typographical error, the persons named in the form of proxy intend to vote FOR the election of Mr. Kosec as a director, unless authority to do so is withheld by the shareholder delivering the form of proxy, on the basis of the discretionary authority conferred under the proxy upon the persons named in the proxy with respect to amendments to matters identified in the Notice of Annual and Special Meeting of Shareholders for the Meeting or other matters that may properly come before the Meeting.
In addition, in the section of the Information Circular entitled "Business of the Meeting - 5. Non-Option Omnibus Incentive Plan", it was stated that an aggregate of 60,142,857 common shares of Adyton held by "Insiders" and "Associates" of Adyton, representing 48.2% of its issued and outstanding common shares, will be excluded for the purposes of disinterested shareholder approval of Adyton's proposed non-option omnibus incentive plan (the "Omnibus Plan") and determining whether the Omnibus Plan is approved, in accordance with the policies of the TSX Venture Exchange (the "TSX-V"). It has subsequently been determined that it is not necessary to exclude the votes of Mayur Resources Limited ("Mayur"), which holds an aggregate of 53,333,333 common shares of Adyton, in determining disinterested shareholder approval for the Omnibus Plan under TSX-V policies on the basis that, while Mayur is an "Insider" which beneficially owns more than 10% of the issued and outstanding Adyton common shares, it is not an "Associate" of any of the directors and officers of Adyton, being the Insiders to whom awards may be granted under the Omnibus Plan. Accordingly, in accordance with the policies of the TSX-V, an aggregate of 6,809,524 common shares of Adyton, representing 5.5% of the issued and outstanding common shares, will be excluded for the purposes of disinterested shareholder approval of the Omnibus Plan and determining whether the Omnibus Plan is approved.
The Amendment and the revised form of proxy have been filed under the Company's profile on SEDAR at www.sedar.com and can also be obtained from Adyton upon request.
ON BEHALF OF THE BOARD OF Adyton Resources Corp.
Frank Terranova, Chairman, President and Chief Executive Officer
For further information please contact:
Frank Terranova, Chairman, President and Chief Executive Officer
E-mail: fterranova@adytonresources.com
Phone: +61 7 3854 2389
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 press release.
ABOUT ADYTON RESOURCES CORPORATION
Adyton Resources Corp. is focused on the development of gold and copper resources in world class mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is exploring for copper and gold. The Company's mineral exploration projects are located on the Pacific Ring of Fire which hosts several world class copper and gold deposits.
For more information about Adyton and its projects, visit www.adytonresources.com
