May 05, 2017 14:30 ET

SEMAFO Announces Re-Election of Directors

MONTREAL, QUEBEC--(Marketwired - May 5, 2017) - SEMAFO (TSX:SMF)(OMX:SMF) announces that at its Annual General Meeting of Shareholders held on May 4, 2017, all directors nominated in the 2017 management proxy circular were re-elected. A total of 238,039,880 common shares or 73.27% of our issued and outstanding common shares were represented in person or by proxy at the meeting.

Detailed results are as follows:

Nominee Votes for % of
Votes for
% of Votes
Terence F. Bowles 235,641,125 99.95 123,808 0.05
Benoit Desormeaux 234,588,600 99.50 1,176,472 0.50
Flore Konan 224,349,365 95.16 11,415,707 4.84
Jean Lamarre 214,876,692 91.14 20,888,380 8.86
John LeBoutillier 205,832,392 87.30 29,932,680 12.70
Gilles Masson 232,650,458 98.68 3,114,614 1.32
Lawrence McBrearty 233,164,203 98.90 2,600,869 1.10
Tertius Zongo 224,927,466 95.40 10,837,606 4.60

The proposal to appoint PricewaterhouseCoopers LLP as auditors was approved:

For: 97.57%
Withheld: 2.43%

A resolution amending and restating SEMAFO's Shareholder Rights Plan was approved:

For: 94.41%
Against: 5.59%

Additionally, the resolution to adopt By-law No. 2017-1 was approved:

For: 99.89%
Against: 0.11%

Finally, an advisory resolution on the Corporation's approach to executive compensation was approved.

For: 98.29%
Against: 1.71%


SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation currently owns and operates the Mana Mine in Burkina Faso, which includes the high-grade satellite Siou deposit, and is targeting production start-up of the Boungou Mine in the second half of 2018. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.

The information in this release is subject to the disclosure requirements of SEMAFO under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on May 5, 2017 at 2:30 p.m., Eastern Daylight Time.

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