Home / Mining Company News Releases (Unreviewed) / Cartier Resources Inc. Announces AGM Election Results

Cartier Resources Inc. Announces AGM Election Results

VAL-D’OR, QUEBEC–(Marketwired – May 19, 2017) – Cartier Resources Inc. (TSX VENTURE:ECR) (the “Company“) announces that at its annual general meeting held on May 19th, 2017 that the following people were elected as directors of the Company:

Michel Bouchard
Philippe Cloutier
Mario Jacob
Jean-Yves Laliberté
Daniel Massé

The proposal to maintain the stock option plan as presented in the Management Information Circular was approved by the shareholders at the annual general meeting. The proposal allows the Company to grant a number of stock options representing a maximum of 10% of the shares outstanding (on a non-diluted basis).

The proposal to appoint Deloitte LLP as auditors of the Company as presented in the Management Information Circular was approved by the shareholders at the annual general meeting.

Following the annual meeting, the Board of Directors named the following people as officers of the Company:

Philippe Cloutier, P.Geo, President and Chief Executive Officer;
Gaétan Lavallière, P.Geo, Vice President;
Nancy Lacoursière, Chief Financial Officer;
Jean-Yves Laliberté, Chairman of the board and Corporate Secretary.

Grant of Stock Options:

On May 19th, 2017, the Board of Directors awarded a total of 2,125,000 stock options to directors, officers, one employee of the Company and Paradox Public Relations. Pursuant to the terms of the Company’s stock option plan, each option grants the holder of such option the right to purchase a common share of the Company at a price of $0.295 per share no later than May 19th, 2022.

In addition, in connection with the investment announced on May 26, 2016, the Company announces that following its buy-back of a tranche of 1.2% of the gross revenue royalty on the Benoist property, it has agreed to proceed with the buy-back of an additional tranche of 0.2% with two investors by the issuance of 135,194 common shares at a price of $0.295 per share (i.e. 67,597 common shares per investor), the whole subject to the approval of the TSX Venture Exchange. The Benoist property will continue to be subject to a 0.1% gross revenue royalty.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

]]>Cartier Resources Inc.
Philippe Cloutier
President and CEO
(819) 874-1331 or Toll free: 877 874-1331
(819) 874-3113 (FAX)
]]>

 

Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://feeds.mwnewsroom.com/article/rss?id=2145758. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

About Staff @ Geology for Investors

Geology for Investors seeks to demystify mineral exploration and mining projects for mining company investors. All of our writers and contributors are experienced and educated in geology and the geosciences.