TomaGold Corporation

TomaGold Corporation

April 09, 2014 09:33 ET

TomaGold Reports on the Outcome of its Annual and Special Meeting of Shareholders

LAVAL, QUEBEC--(Marketwired - April 9, 2014) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Corporation") is pleased to announce the results of its annual and special meeting of shareholders.

At the annual and special meeting of shareholders held April 8, 2014, the shareholders of the Corporation had the opportunity to listen to the President of the Corporation, Mr. David Grondin, comment on the year 2013, which was an important year for the Corporation. In fact, concurrently with drilling programs on its properties, the Corporation has completed the acquisition of several properties adjacent to the Monster Lake project, has finalized several flow-through and non-flow-through financing, as well as finalizing an option agreement with IAMGOLD for a total value of $17.575 million (including $16 million in exploration work). In addition, Mr. Grondin described to the participants the sustained efforts of the Corporation to increase its media presence with investors, at home as well as abroad.

Subsequently, the shareholders approved, by a majority of vote, the appointment of Raymond Chabot Grant Thornton LLP as auditors of the Corporation. Furthermore, the following five Directors were elected: Mr Roger Boucher, Mr. Robert Desjardins, Mr. David Grondin, Mr. Ciro Cucciniello and Mr. Vittorio Violo.

The Corporation proudly welcomed Mr. Cucciniello among the members of its team as a Director for the coming year. Having served on the Board of Directors of several public and private corporations, Mr. Cucciniello was involved in strategic planning, financing, development and implementation of programs for many corporations. His legal training and the strategic guidance that he shall provide will be valuable to the Corporation in pursuing its objectives.

During the meeting, the shareholders of the Corporation approved, by a majority of vote, the stock option plan, the whole subject to final approval by the TSX Venture Exchange.

Furthermore, the Corporation announces that its shareholders have approved the adoption of a shareholder protection rights plan (the "Plan"), subject to all necessary regulatory approvals. The Plan is designed to ensure that the shareholders of the Corporation are treated fairly in the event of a public take-over bid for the common shares of the Corporation and that the Board of Directors of the Corporation and the shareholders will have adequate time to evaluate any unsolicited take-over bid and, if appropriate, to evaluate and pursue other alternatives to maximize shareholder value.

The Plan was not adopted in response to any actual or imminent public take-over bid or other proposal from a third party to acquire control of the Corporation.

The Plan is similar to shareholder protection rights plans recently adopted by several other Canadian companies. The Plan is not intended to block public take-over bids.

For a summary of the terms and conditions of the Plan, please refer to the Corporation's management proxy circular dated March 7, 2014.

The Plan will be in effect until the sixth anniversary of the meeting of shareholders held on April 8, 2014, but shall be reconfirmed by shareholders at the third annual meeting following this first meeting of shareholders.

About TomaGold Corporation

TomaGold Corporation is a Canadian-based mining exploration Corporation whose primary mission is the acquisition, exploration and development of gold projects in Canada and abroad.

Neither the 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 news release.

Contact Information

  • TomaGold Corporation
    David Grondin
    President and Chief Executive Officer
    (514) 206-7727