Beaufield Resources Inc.

Beaufield Resources Inc.

April 12, 2017 11:16 ET

Beaufield Resources reports Annual General Meeting Results and Grant of Options

MONTREAL, QUEBEC--(Marketwired - April 12, 2017) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to announce the results of voting at its Annual General Meeting of Shareholders held on Tuesday April 11th, 2017 in Montreal, Canada.

Shareholders voted in favour of the two items put forward by management. All four of the individuals nominated for the board of directors were elected as set out below:

% of Votes Cast
For Against/Withheld/Abstain
Claudio Ciavarella 99.17% 0.83%
Ronald Stewart 99.92% 0.08%
Robert P. Wares 99.97% 0.03%
MiaoZhong Zhuang 94.57% 5.43%

Shareholders also voted in favour of appointing Raymond Chabot Grant Thornton LLP, as auditors of the Corporation for the ensuing year and authorizing the directors to fix their remuneration (99.99% in favour).

A total of 79,267,995 Beaufield common shares were voted, representing approximately 41% of total shares issued and outstanding as at the record date of the meeting.

The Board of Directors has approved the granting of options for 2,400,000 common shares of the Corporation to the Directors and Officers of the Corporation, under its stock option plan. The options vest immediately, are exercisable at $0.30 per option and have a term of 5 years.

After the grant, the total number of outstanding options under the Corporation's plan is 5,825,000 or approximately 2.9% of the outstanding shares.

About Beaufield:

Beaufield is a well financed mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield's website to view the company's properties in Urban-Windfall, Eleonore-Opinaca, Troilus and Hemlo where a 100% interest was recently announced. The Corporation is actively exploring, well financed with approximately $8 million in working capital, has no debt and has excess work credits on its properties.

The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

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