MONTREAL, June 06, 2019 (GLOBE NEWSWIRE) -- Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) announces the results of its annual meeting (“AGM”) of shareholders held on June 5, 2019. Shareholders holding a total of 19,699,124 common shares of the Company attended the AGM in person or were represented by proxy, representing over 43% of the 45,690,111 common shares issued and outstanding.
Jacques Bonneau, Jean-Sébastien David, Claude Dufresne, Dawn Madahbee Leach, Raymond Legault and Serge Savard were re-elected to the board of directors. The shareholders also re-appointed PricewaterhouseCoopers, LLP as auditors for the ensuing financial year and re-approved the Company’s rolling stock option plan.
Grant of stock options
Following the AGM, the Company has approved the grant of an aggregate of 630,000 incentive stock options to directors, officers, employees and consultants of the Company at an exercise price of $0.18 per share. All of the stock options will be vesting over a period of two years and, if not exercised, will expire five years from the date of the grant. The stock options have been granted pursuant to the Company’s Stock Option Plan and are subject to applicable securities laws and TSX Venture Exchange policies.
About NioBay Metals Inc.
Niobay Metals Inc. is a mining exploration company holding a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier niobium and tantalum project located in Quebec and a 49% direct participation in certain mineral titles located in the Chibougamau region, Quebec, under a joint venture agreement with SOQUEM.
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 release
For more information, contact:
Claude Dufresne, P.Eng.
President & CEO
NioBay Metals Inc.
Tel.: 514-866-6500, Ext. 2221