VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2016) - Mundoro Capital Inc. (TSX VENTURE:MUN) (www.mundoro.com) ("Mundoro" or the "Company"), is pleased to announce that 16,290,261 common shares representing 37% of the total number of shares issued and outstanding were voted at its Annual General Meeting held on June 28, 2016 (the "Meeting").
Resulting from the Meeting, the following nominees to the Board have been elected by the shareholders:
Prior to the commencement of the Meeting, Michael Sheridan resigned from the board and withdrew his name as nominee for election as director at the Meeting due to personal reasons. As a result, he was not elected to the board. Mr. Hoey, Chairman of the Company stated, "On behalf of the Board, we would like to thank Mr. Sheridan for his years of service on Mundoro's Board of Directors and wishes him well in his future endeavors."
Furthermore, the Company issued 1,107,500 stock options to its directors, officers and staff on June 28, 2016. The stock options were issued in accordance with Mundoro's Stock Option Plan and are exercisable into common shares of Mundoro at $0.125 (being the closing price on the TSX Venture Exchange on June 27, 2015) over a five-year term. For the option grants, 369,167 vest immediately on the day the options were granted ("Grant Date"), 369,167 vest twelve (12) months after the Grant Date and the final 369,167 vest twenty four (24) months after the Grant Date. Following the grant, the total number of options outstanding under the Company's Stock Option Plan are 3,737,500. The last option grant the Company made was in January 2015.
Shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.
The Company's shareholders voted in favor of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.
Mundoro is a Canadian-based public company which is focused on generating value for its shareholders through utilizing the collective expertise of our directors, management and technical staff to invest in mineral projects that have the ability to generate future cash.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the mineral potential of the Timok North Properties, the Company's future strategy and business plan and execution of the Company's existing plans. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.
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.