Serengeti Announces Results of its 2019 Annual and Special General Meeting
September 25, 2019
Vancouver, B.C., September 25, 2019. Serengeti Resources Inc. (SIR: TSX-V) ("Serengeti" or "the Company") is pleased to report that at the Annual and Special General Meeting of its shareholders held September 24, 2019 (the “ASGM”), the Company experienced a strong turnout of votes. A total of 90 votes were received in person and by proxy, representing 36,829,962 shares or 37.68% of the Company’s issued share capital. All resolutions proposed and voted on at the meeting were approved and duly passed with greater than 90.75% support.
At the meeting, Mr. George T. Tikkanen retired from Serengeti’s Board of Directors, after 15 years as a valued and respected member of the Board, providing much appreciated guidance and input during his term. Serengeti wishes to thank Mr. Tikkanen for his many years of service.
Serengeti is pleased to report that at the meeting, Mr. James Morton consented to and was elected as a new member of Serengeti’s board to replace Mr. Tikkanen. Additionally all the other incumbent directors, Mr. David W. Moore, Mr. Lewis D. Lawrick, Mr. Eric Strom and Ms. Teo Dechev were elected to Serengeti’s board, to hold office until the next annual general meeting of the Company.
Mr. James Morton is a director of Sabina Gold & Silver Corp, Chair of the Nominating & Governance Committee and a member of the Audit Committee. He played an instrumental role in the Company’s acquisition of the Back River Gold Project in Nunavut. He was a founding shareholder and director of Pathfinder Resources Ltd which was acquired by Bayswater Uranium Corporation. He is a former securities lawyer co-founder, and now advisor to Morton Law LLP, a Vancouver corporate finance law firm. He practiced corporate and securities law for 40 years acting for junior and advanced stage companies, primarily involved in resource exploration. He is a retired member of the B C Law Society, holds an LLB degree from the University of British Columbia and a Bachelor of Arts Degree from the University of Western Ontario.
Also at the ASGM, shareholders approved the re-appointment of its auditors, Dale Matheson Carr-Hilton LaBonte LLP, Chartered Professional Accountants as the independent auditor of the Company for the ensuing year, as well approved an amendment to the Company’s Stock Option Plan to increase the number of common shares reserved for issuance under the Plan from 12,624,000 to 19,545,000, less any options currently issued under the existing Plan.
Subsequent to the ASGM, the directors of the Company re-appointed the following officers of the Company: Mr. David Moore as President and Chief Executive Officer, Ms. Sheri Rempel as Chief Financial Officer, and Pamela White as Corporate Secretary.
The Company also announces the grant of incentive stock options to a director of the Company to acquire 400,000 shares of Serengeti, exercisable at a price of $0.30 for a period of 5 years from the date of grant pursuant to the Company’s Stock Option Plan.
All of the items approved at the meeting are detailed in the Company’s Management Information Circular dated July 26, 2019 which can be found either on the Company’s website at www.serengetiresources.com or on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
David W. Moore, P. Geo.
President, CEO and Director
About Serengeti Resources Inc.
Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is currently advancing its Kwanika copper-gold project in partnership with Posco International and exploring its extensive portfolio of properties in north-central British Columbia. A number of these other projects are available for option or joint venture and additional information can be found on the Company’s website at www.serengetiresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.