Vancouver, British Columbia--(Newsfile Corp. - November 1, 2024) - Fremont Gold Ltd. (TSXV: FRE) (OTCQB: FRERF) (FSE: FR20) ("Hayasa" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has approved the Company's name change from Fremont Gold Ltd. to Hayasa Metals Inc.
At the opening of the markets on November 6, 2024, the Company's common shares will commence trading under the new name Hayasa Metals Inc. and the new stock symbol "HAY". The Company's new CUSIP number is 420634107 and its new ISIN number is CA4206341071. The name change was approved by a resolution of the board of directors of the Company on September 13, 2024.
There is no consolidation of the Company's share capital in connection with the name change. As a result, shareholders are not required to exchange their existing share certificates for new certificates bearing the Company's new name. The name change does not affect the Company's share structure or the rights of the Company's shareholders, and no further action is required by existing shareholders.
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The Board felt a name change was necessary to more closely associate the company with Armenia and our flagship properties: Vardenis and Urasar. "We are particularly pleased that we continue to prioritize our capital into the drill bit, and as such did not spend much at all on the rebranding effort. While some wags may have their own interpretation of the logo, we think we got a pretty decent result and we look forward to the new website launch on or about Nov. 6," said Joel Sutherland, CEO.
The Company also announces that all resolutions were passed at its annual general meeting of shareholders held in Vancouver on October 22, 2024 (the "AGM").
All of the nominees for election as directors of the Company listed in the Company's information circular dated September 13, 2024, were re-elected for the ensuing year and the number of directors was fixed at five. Accordingly, Joel Sutherland, Dennis Moore, Michael Williams, Randall Chatwin, and Jason Libenson were all elected as directors of the Company.
DeVisser Gray LLP, Chartered Professional Accountants, were re-appointed as auditors for the Company for the ensuing year.
The Company's omnibus equity compensation plan (the "Omnibus Plan") was also approved at the AGM. The Omnibus Plan includes the ability to issue stock options ("Options"), restricted share units ("RSUs"), performance share units ("PSUs"), and deferred share units ("DSUs", and together with Options, RSUs, PSUs, the "Awards"). The maximum number of common shares which may be issued in respect of Options will not exceed 10% of the total number of issued common shares at the time an Option is granted and the aggregate number of common shares which may be issued in respect of RSUs, PSUs, and DSUs (collectively, the "Performance Based Awards") will not exceed 5,818,809. The Omnibus Plan has a "rolling" limit in connection with Option grants as the number of common shares reserved for issuance pursuant to the grant of Options will automatically increase as the Company's issued and outstanding share capital increases. The Omnibus Plan will replace the Company's existing stock option plan. Any Options currently issued and outstanding pursuant to the Company's existing stock option plan will continue to be exercisable but will be governed by the Omnibus Plan. The Company does not have any Performance Based Awards issued and outstanding.
A copy of the Omnibus Plan and further details are included in the Company's management information circular prepared for the Meeting and filed under the Company's SEDAR+ profile at www.sedarplus.com.
About Fremont Gold Ltd.
The Company's mine-finding management team has a track record of creating shareholder value and has assembled a highly prospective portfolio of potential tier one copper-gold mineral opportunities in the Central Tethyan Mineral Belt in Armenia. The Tethyan Belt is one of the world's most prolific gold, copper and polymetallic mineral belts, yet the Armenian portion of the belt is vastly underexplored.
On behalf of the Board of Directors,
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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