|By Marketwired .||
|June 27, 2014 10:54 AM EDT||
THUNDER BAY, ONTARIO -- (Marketwired) -- 06/27/14 -- Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega" or the "Company") is pleased to announce the results of the 2014 Annual Meeting of Shareholders (the "Meeting") held in Thunder Bay, Ontario today.
As proposed by the Company, six director nominees set out in the management information circular dated May 23, 2014 were elected as directors of the Company for the ensuing year. The directors are Mario Stifano (Chairman), Ewan Downie, Abraham Drost, Glen Kuntz, Richard Patricio and Michael Sweatman.
Shareholders appointed Grant Thornton LLP as auditors of the Company and approved the company stock option plan.
Daniel Racine did not stand for re-election as a director of the Company due to his increased work commitments. The board of the directors would like to thank Mr. Racine for his contribution to the Company and wish him well in his future endeavours.
In addition, the Company has granted options pursuant to its stock option plan to acquire an aggregate of 2,400,000 common shares, subject to regulatory approval, in the annual grant to directors, employees, officers, investor relations consultants and other consultants of the Company. The options are exercisable at a price of $0.115 per share and expire on June 26, 2019.
Mega Precious Metals is pleased to announce that further to the October 16, 2013 press release it has continued to retain the services of Nicole Marchand to assist with Investor Relations activities. Ms. Marchand is engaged with an initial term of 6 months at a rate of $4,000 per month plus applicable expenses.
Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.
For further information and presentation material, please review the Mega website at www.megapmi.com.
Certain statements in this press release contain information that may constitute forward-looking information under applicable Canadian securities legislation. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the strength of the global economy, fluctuations in the price of gold and operational, funding and liquidity risks. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company's filings which are posted on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or to update the reasons why actual results could differ from such information unless required by law.
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.
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