Grants Incentive Stock Options
VANCOUVER, BC, June 11, 2020 /CNW/ - Sun Metals Corp. (TSXV: SUNM) ("Sun Metals" or "we" or the "Company") announces the results of voting at its virtual Annual General Meeting of Shareholders ("AGM") held Thursday, June 11, 2020. A total of 38,103,235 common shares were voted, representing 25.74% of total shares issued and outstanding as at the record date of the meeting.
Shareholders voted in favour of all items put forward by the Board of Directors and management. All six of the individuals nominated for the board of directors were elected as set out below:
% Votes For
% Votes Withheld
Shareholders also voted in favour of (i) reappointing KPMG LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorizing directors to fix their remuneration; and (ii) approving and ratifying the Company's Stock Option Plan.
Grant of Incentive Stock Options
The Company also announces that it has granted incentive stock options exercisable to purchase up to 4,030,000 common shares in the capital of the Company until June 11, 2025 to directors, officers, employees, and certain consultants. The stock options have an exercise price of $0.18 per share and have been granted in accordance with the Company's Stock Option Plan.
On Behalf of the Board of Directors of
SUN METALS CORP.
Chief Executive Officer
An updated interactive corporate presentation is available on Sun Metals' website at https://www.sunmetals.ca/investors/presentation/.
Neither 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 release.
About Sun Metals
Sun Metals is advancing its 100% owned flagship, high-grade Stardust Project located in northcentral British Columbia, Canada. Stardust is a high-grade polymetallic Carbonate Replacement Deposit with a rich history. Sun Metals also owns the Lorraine copper-gold project (joint-ventured with Teck Resources Limited), and the OK copper-molybdenum project.
SOURCE Sun Metals
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