Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Southern Arc Minerals Inc. (TSXV: SA) ("Southern Arc." or the "Company") is pleased to announce that all resolutions were passed at its annual general meeting of shareholders (the "AGM") held on June 26, 2024.
All of the nominees for election as directors of the Company listed in the Company's information circular dated May 15, 2024, were elected for the ensuing year and the number of directors was fixed at three. John Proust, Murray Flanigan, and Vince Boon were all elected as directors of the Company.
The Company's current equity incentive plan (the "Compensation Plan") was also approved at the AGM. The Compensation Plan governs the granting of stock options ("Options"), restricted share units ("RSUs"), performance share units ("PSUs"), and deferred share units ("DSUs", together, the "Awards") to directors, officers, employees, management company employees and consultants of the Company. The aggregate number of Class A Shares reserved for issuance in respect of Options shall not exceed ten (10%) of the total number of issued Class A Shares (calculated on a rolling, non-diluted basis) at the time an Option is granted. Upon the Company's graduation from the NEX Board to the TSX Venture Exchange, the aggregate number of Class A Shares issuable in respect of RSUs, PSUs and DSUs is 2,289,828 Class A Shares.
Further details regarding the Compensation Plan are included in the management information circular of the Company filed on SEDAR+ in connection with the AGM. The Compensation Plan is subject to final approval by the TSX Venture Exchange.
Davidson & Company LLP were appointed as auditor for the Company for the ensuing year.
On behalf of the Board of
Southern Arc Minerals Inc.
"John Proust"
Chairman and CEO
Southern Arc Contact
John Proust Chairman & CEO
Phone: 778-725-1490
Email: info@southernarcminerals.com
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