|By Marketwired .||
|February 25, 2014 08:52 PM EST||
MONTREAL, QUEBEC -- (Marketwired) -- 02/26/14 -- Northcore Resources Inc. (TSX VENTURE:NCR) announces the results from the Annual and Special meeting of Shareholders held on Tuesday February 25, 2014. More than 32.383 million votes were cast representing 31.81 percent of the issued and outstanding shares of the Corporation. The quorum was met under the Corporation's bylaws.
The Board of Directors was elected and is now made up of: Garry Majerle, Chairman, Taylor Sebastian, Michel Lebeuf, John Florek and Stephen McGinn who are all recognized as Independent Directors.
The mandate of the Auditors Raymond Chabot Grant Thronton has been unanimously renewed for the 2013 fiscal year.
There were three other Resolution that were adopted by the Shareholders:
The Share Option Purchase program Resolution was adopted by 95.80 percent of the votes registered.
The Resolution seeking the adoption of a share consolidation mandate for the Board of Directors of up to a 20:1 was approved by more than 87.38% of the votes cast. This share consolidation will be effective at the discretion of the Board of Directors and will be announced publicly prior to becoming effective.
The Resolution seeking the adoption of a Restricted Share Unit ("RSU") and Deferred Share Unit ("DSU") incentive Plans for Directors, Officers, Employees and Consultants, and the adoption of a proposed grant of 1 million pre-consolidation RSUs to John Florek which grant the Board of Directors had voted on and accepted. This grant will become effective upon regulatory approval. The votes tied to the shares owned by the Insiders were not included in the results. A total of 1 147 000 shares were excluded from the results. The Incentive programs and the grant to John Florek were adopted by 93.866% of the votes cast by shareholders dealing at arm's length with the Corporation.
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Chairman of the Board of Directors