|By Marketwired .||
|June 19, 2014 07:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/19/14 -- Marret Resource Corp. (TSX: MAR) (the "Company") announces that the Company's shareholders approved all matters submitted by management for their consideration at the annual meeting of shareholders (the "Meeting") held on June 16, 2014 in Toronto, Ontario.
At the Meeting Barry Allan, John Anderson, Frank Davis, David Gluskin and Douglas Scharf were elected as directors of the Company. The shareholders reappointed KPMG LLP, Chartered Accountants, as the Company's auditor. Particulars of each of the above matters are described in the management information circular of the Company dated May 8, 2014, which is available on SEDAR. In addition, Peter Rizakos has been appointed the President and Chief Executive Officer of the Company, Dave Guebert has been appointed the Chief Financial Officer and Secretary of the Company, and Mr. Davis has been appointed as Chairman of the Company.
Detailed voting results for the election of directors were as follows:
---------------------------------------------------------------------------- Shares Voted Shares Name For (%) Withheld (%) ---------------------------------------------------------------------------- Barry Allan 96.46 3.54 ---------------------------------------------------------------------------- John Anderson 99.90 0.02 ---------------------------------------------------------------------------- Frank Davis 96.46 3.54 ---------------------------------------------------------------------------- David Gluskin 96.46 3.54 ---------------------------------------------------------------------------- Douglas Scharf 99.90 0.02 ----------------------------------------------------------------------------
The Company also announced today that it has declared a monthly dividend of $0.023334 per share on its outstanding common shares. The dividend is payable on July 15, 2014 to shareholders of record at the close of business on June 30, 2014, and is an eligible dividend pursuant to subsection 89(14) of the Income Tax Act (Canada).
The Company has adopted a Dividend Reinvestment Plan (the "Plan"). To participate in the Plan in time for the reinvestment of this dividend payable on July 15, 2014 , eligible shareholders whose shares are registered in their name must enroll by no later than 4:00 p.m. on June 30, 2014. Eligible shareholders who hold their shares in the name of a nominee should contact their nominee to inquire about the timing of their enrolment. Any enrollment form received after such time will be applied to the next applicable dividend record date. Enrollment under the Plan can otherwise be made at any time. Once a participant has enrolled in the Plan, participation continues automatically unless terminated or suspended in accordance with the terms of the Plan.
A copy of the Plan and the enrolment form are available on Marret Asset Management Inc.'s website at www.marret.com or by calling Marret at (416) 214-5800 or at Computershare's website at www.investorcentre.com.
About Marret Resource Corp.
Marret Resource Corp. is focused on natural resource lending. The Company's business is primarily directed to investing in public and private debt securities of and making term loans (including bridge and mezzanine debt) to issuers in a broad range of natural resource sectors, including energy, base and precious metals and other commodities, and issuers involved in exploration and development, and may also include financing other resource-related businesses and investing in public and private equity and quasi-equity securities. The Company seeks to generate income mainly from its lending activities, while taking advantage of additional upside through equity participation in the companies which it finances.
Marret Asset Management Inc. is the Company's investment manager and is responsible for implementing Marret Resource Corp.'s investment strategy and managing its investment portfolio.
About Marret Asset Management Inc.
Marret Asset Management Inc. is the manager of the Company. Marret and its experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies. Barry Allan, the President and Chief Investment Officer, founded Marret in 2000, following a career at Altamira, Nesbitt Thomson and a Canadian chartered bank. Mr. Allan has over 30 years of experience in credit and fixed income markets.
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This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company's investment and macroeconomic views. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such risks include, but are not limited to, market conditions and the other risks identified in the short form prospectus dated June 23, 2011 and the Company's annual information form, in both cases under the heading "Risk Factors". There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For further information about Marret Resource Corp. and its
ongoing business, please contact:
Marret Investor Services
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