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New Break Announces Results of Annual General and Special Meeting
December 16, 2021
Toronto, Ontario, December 16, 2021 – New Break Resources Ltd. (“New Break” or the “Company”) is pleased to release the results its Annual General and Special Meeting of Shareholders held on Tuesday, December 14, 2021 (the “Meeting”).
Results of Annual General and Special Meeting
A total of 11,768,300 common shares were represented in person or by proxy at the Meeting, representing 32.5% of the Company's issued and outstanding common shares. All directors nominated as listed in the Management Information Circular dated December 3, 2021 (the “Circular”), were re-elected, as shown in the following table below:
| Nominee | Votes For | Votes Withheld | ||
| Joshua Bailey | 11,768,300 | 100.00% | - | - |
| Michael Farrant | 11,768,300 | 100.00% | - | - |
| Ashley Kirwan | 11,768,300 | 100.00% | - | - |
| C. Nigel Lees | 11,748,300 | 99.83% | 20,000 | 0.17% |
| Thomas Puppendahl | 11,768,300 | 100.00% | - | - |
| Michael Skutezky | 11,748,300 | 99.83% | 20,000 | 0.17% |
At the Meeting, the shareholders of the Company also approved:
- The re-appointment of McGovern Hurley LLP, Chartered Professional Accountants as the auditor of the Company for the ensuing year and authorized the directors to fix their remuneration;
- the Company's Stock Option Plan as described in the Circular;
- a special resolution to amend the articles of the Company to remove the share transfer restrictions contained therein; and
- the adoption of a new By-Law No. 1 as described in the Circular, to replace the existing By-Law No. 1.
| Matters Voted Upon | Votes For | Votes Withheld | ||
| Appointment of Auditors | 11,768,300 | 100.00% | 11,768,300 | 100.00% |
| Amendment to Company Articles to Remove Share Transfer Restrictions (1) | 11,068,300 | 94.05% | 700,000 | 5.95% |
| Matters Voted Upon | Votes For | Votes Against | ||
| Re-approval of the Stock Option Plan | 11,068,300 | 94.05% | 700,000 | 5.95% |
| Adoption of a New Company By-Law No. 1 to Replace the Existing By-Law No. 1 (1) | 11,068,300 | 94.05% | 700,000 | 5.95% |
- Administrative items required in connection with the Company’s plans to go public in Q1 2022.
About New Break Resources Ltd.
New Break is a private Canadian mineral exploration and development company with a dual vision for value creation. In northern Ontario, New Break is focused on acquiring highly prospective gold projects in well-established mining camps, within proximity to existing infrastructure, while at the same time, through our prospective land holdings in Nunavut, we provide our shareholders with significant exposure to the vast potential for exploration success in one of the most up and coming regions in Canada for gold exploration and production. These complimentary visions are supported by a highly experienced team of mining professionals committed to placing a premium on Environmental, Social and Corporate Governance, respecting the values and interests of all our stakeholders.
For further information on New Break, please visit www.newbreakresources.ca or contact:
Michael Farrant, President and Chief Executive Officer
Tel: 416-278-4149
mfarrant@newbreakresources.ca
No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to comments regarding the timing and expectations for finalizing property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company’s control. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s financial statements and management’s discussion and analysis (the “Filings”), such Filings available upon request.