Meadow Bay Gold Corporation

Meadow Bay Gold Corporation

July 27, 2016 16:28 ET

Meadow Bay Gold Receives Shareholder Approval and Closes Private Placement; Results from Voting for the Election of Directors at AGM; Changes in Director and Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 27, 2016) - Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company") (TSX:MAY)(OTCQB:MAYGF)(FRANKFURT:20M)(WKN A1C3DN) announces the closing of the non-brokered private placement financing (the "Private Placement") announced in the Company's news release dated June 29, 2016, consisting of the sale of 5,949,849 Units ("Units") at a price of $0.06 per Unit, raising gross proceeds of $356,990.94. Each Unit consisted of one common share of the Company and one warrant (a "Warrant") exercisable to purchase an additional common share of the Company at a price of $0.07 per share for a period of five years.

The Company paid finder's fees in the amount of $10,149.37 in cash and issued 169,156 finder's warrants ("Finder's Warrants") in respect of a portion of the Private Placement. Each Finder's Warrant entitles the holder to purchase one common share of the Company at a price of $0.07 per share for a period of five years.

The Company received shareholder approval for the Private Placement as required by the policies of the Toronto Stock Exchange at the Company's Annual General Meeting held on Wednesday, July 20, 2016 (the "Meeting"). Net proceeds from the Private Placement will be used for general working capital.

The Company further announces the voting results for the election of directors at the Meeting. A total of 13,723,251 common shares, representing 16.31% of the issued and outstanding common shares of the Company, were represented at the Meeting, which common shares were voted with respect to the election of directors as follows:

Nominee For Withheld
Christopher Crupi 99.78% 0.22%
Robert Dinning 99.78% 0.22%
Adrian Robertson 99.77% 0.23%
Charles William (Bill) Reed 99.78% 0.22%
Jordan Estra 99.78% 0.22%
Lance Morginn 99.78% 0.22%

The Company also announces that following the Meeting, Lance Morginn has resigned as a director of the Company and that Keith Margetson has assumed the role of Corporate Secretary in addition to acting as Chief Financial Officer of the Company.

Contact Information

  • Meadow Bay Gold Corporation
    Robert Dinning
    Chairman and Director

    Launch IR
    Matthew Harrington