VANCOUVER, Oct. 10, 2017 /CNW/ - Eco Oro Minerals Corp. ("Eco Oro" or the "Company") (TSX: EOM) is pleased to announce the results of its annual general and special meeting (the "Meeting") of holders (the "Shareholders") of its common shares ("Common Shares") held today. Approximately 82.39% of the Common Shares were represented in person or by proxy at the Meeting.
All of the nominee directors listed in Eco Oro's management information circular dated September 12, 2017 were elected as directors. The results of the Common Shares voted in respect of the election of each of the directors were as follows:
| Name of Nominee | Votes For | Votes Withheld | ||
| Lawrence Haber | 85,828,609 | 99.84% | 136,838 | 0.16% |
| David Kay | 83,854,151 | 97.54% | 2,111,296 | 2.46% |
| Peter McRae | 85,793,609 | 99.80% | 171,838 | 0.20% |
| Anna Stylianides | 80,318,127 | 93.43% | 5,647,320 | 6.57% |
| Courtenay Wolfe | 85,828,609 | 99.84% | 136,838 | 0.16% |
Shareholders also approved the previously announced plan of arrangement (the "Arrangement") pursuant to the Business Corporations Act (British Columbia) with approximately 99.85% of the votes cast by Shareholders present in person or represented by proxy at the Meeting voting in favour of the Arrangement which exceeds the 66⅔% threshold required to approve the Arrangement.
Completion of the Arrangement is subject to the receipt of a final order (the "Final Order") of the British Columbia Supreme Court (the "Court"), which is expected to be sought on October 12, 2017. In addition, certain closing conditions customary in transactions of this nature are required in order for the Arrangement to occur. Provided that approval of the Court is granted and all other closing conditions are satisfied or waived, Eco Oro expects the Arrangement to be completed by the end of October 2017.
At the Meeting, Shareholder also voted in favour of and approved:
- setting the number of directors at five;
- reappointing Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration;
- approving all unallocated options rights or other entitlements under the Amended and Restated Incentive Share Option Plan of the Company and authorizing the Company to continue to grant options thereunder until October 10, 2020;
- approving the amendment of the investment agreement between the Company and Trexs Investments, LLC dated July 21, 2016 and the amendment of the security sharing agreement among PFR Gold Master Fund Ltd., Amber Latin America LLC, Trexs Investments, LLC, Anna Stylianides and Manas Dichow dated November 9, 2016; and
- approving the amendment to the management incentive plan of the Company dated January 13, 2017.
Company Profile
Eco Oro Minerals Corp. is a publicly-traded precious metals exploration and development company with a portfolio of projects in Colombia. Eco Oro has been focused on its wholly-owned, multi-million ounce Angostura gold-silver deposit, located in northeastern Colombia.
