Africo Resources Ltd.
TSX : ARL

Africo Resources Ltd.

June 26, 2015 11:40 ET

Africo Resources Reports Results from Annual Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 26, 2015) - Africo Resources Ltd. ("Africo") (TSX:ARL) announces, in accordance with Toronto Stock Exchange requirements, the voting results from its annual shareholder meeting held Thursday, June 25, 2015, in Vancouver, British Columbia.

The votes attaching to a total of 65,553,483 out of 71,313,127 common shares were voted at the meeting, representing approximately 91.9% of the issued and outstanding shares entitled to be voted.

Africo is pleased to announce the appointment of Mr. Edward Lauer and Mr. Jonathan Cordero as new members of the Board of Directors replacing Mr. Charles Forster and Mr. Beat Ehrensberger, who stood down from re-election. We would like to take this opportunity to thank Mr. Ehrensberger and Mr. Forster for their contributions and invaluable assistance to Africo as directors during the past four years.

Mr. Lauer is currently the Head of Portfolio Optimisation at Eurasian Resources Group ("ERG"). Prior to his employment at ERG he worked at Pala Investments, an investment fund focused on the mining sector and The Boston Consulting Group, where he was a member of both the mining and energy practices. He has worked with or advised some the world's largest mining houses, including BHP Billiton, Rio Tinto and Anglo American, as well as several small cap miners and developers. Mr. Lauer holds a BEng in Materials Science from the University of New South Wales and brings his expertise on strategy, M&A, operational improvement, marketing and logistics to the Board.

Mr. Cordero is currently the Director of Strategic Finance at ERG in Luxembourg responsible for Project Financing and Strategic Partnerships. He joined ERG shortly after its privatization in March 2014 where he was involved in the development of Group Strategy. Prior to his assignment at ERG, Mr. Cordero was a Project Manager with Bryanston Resources in Zug, Switzerland, a specialised advisory and investment boutique for clients in the commodities space. He advised major players in the Mining & Metals as well as the Iron & Steel space in Africa, CIS and Central Asia on M&A, Turnaround & Restructuring as well as Marketing & Sales. Mr. Cordero holds a Master of Science in Management from HHL- Leipzig Graduate School of Management.

Incumbent directors - James Cook, George Ireland, and Chris Theodoropoulos - were re-elected as directors of Africo.

At the meeting, by resolutions passed by a show of hands, PricewaterhouseCoopers LLP was re-appointed as auditor and the directors received the authority to determine the auditor's remuneration.

Detailed voting results for the election of directors were as follows:

Nominees FOR For% WITHHELD Withheld%
James Cook 65,527,364 99.96% 26,119 0.04%
Jonathan Cordero* 65,553,483 100.00% - 0.00%
George Ireland 65,527,446 99.96% 26,037 0.04%
Edward Lauer* 65,553,483 100.00% - 0.00%
Chris Theodoropoulos 65,527,918 99.96% 25,565 0.04%
*Nominated from the floor at the meeting.

Note for editors:

Africo Resources Ltd. is a Canadian mineral company engaged in developing, acquiring and exploring for base metal assets in Africa. The company's main project is Kalukundi, a development stage copper-cobalt deposit located in the Katangan Copperbelt in the Democratic Republic of Congo (DRC). The development team has an operational base in the DRC, with the company corporate offices located in Vancouver, Canada.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Africo Resources Ltd.
    Chris Theodoropoulos
    Chairman
    +1(604) 646-3225

    Africo Resources Ltd.
    Larry Okada
    Chief Financial Officer
    +1(604) 646-3225