ANNUAL MEETING OF SHAREHOLDERS
TORONTO, June 16 /CNW/ - MacDonald Mines Corporation (BMK: TSX-V) (the
"Company") announces that the Annual and Special Meeting of its Shareholders
(the "Shareholders' Meeting") was held on June 11, 2009 at the offices of
Fasken Martineau DuMoulin LLP, 800 Place Victoria, 37th Floor, Montreal,
Quebec at 11:00am (Montreal time) for the following purposes:
1. To receive and consider the financial statements of the Company and
Auditors' Report thereon for the fiscal year ended December 31, 2008;
2. To re-appoint auditors and authorize the Directors to fix their
3. To elect Directors to serve until the next Annual General Meeting of
4. To approve continuation of the current "Stock Option Plan" as
instituted and as approved by the TSX Venture Exchange Policy 4.4;
5. To seek approval of share issuance in lieu of cash remuneration to
Director and Officers;
6. To seek approval of Stock Option re-pricing; and
7. To transact such other business as may properly come before the
Meeting or any adjournment thereof.
A quorum of the Company's outstanding common stock as of the record date
of April 30, 2009 was present in person or by proxy at the Shareholders'
Voting Summary on Resolutions
No. 2. More than 90% of the shares of common stock cast at the meeting
voted to re-appoint of Moore Stephens Cooper Molyneux LLP, Chartered
Accountants, as the Company's independent registered public accounting firm
for the financial year ending December 31, 2009 and authorize the Directors to
fix their remuneration.
No. 3. More than 90% of the outstanding shares of common stock present at
the Shareholders' Meeting voted to approve the re-election of the following
persons to serve as directors of the Company, each to hold office for a term
expiring at the next annual meeting of shareholders or until his successor
shall have been duly elected and qualified:
J.A. Kirk McKinnon
Richard E. Schler
John P. Sanderson
No. 4. More than 90% of the shares of common stock cast at the
Shareholders' Meeting voted to approve continuation of the current "Stock
Option Plan" in accordance with the recommendations as described in the TSX
No. 5. More than 90% of the shares of common stock cast at the
Shareholders' Meeting voted to approve the issuance of common shares in lieu
of cash remuneration to Director and Officers.
No. 6. More than 80% of the shares of common stock cast at the
Shareholders' Meeting voted to approve the re-pricing of the stock options.
BOARD OF DIRECTORS' MEETING
The Company is also pleased to announce that on June 12, 2008 following
the Annual Shareholders' Meeting, a meeting of the Board of Directors of the
Company was conducted via telephone conference in Toronto, Ontario, Canada.
At the Meeting, the Board of Directors unanimously approved the following
appointments to serve in those capacities until the next annual Meeting of
John P. Sanderson as Chairman of the Board of Directors
J.A. Kirk McKinnon as President and Chief Executive Officer
Richard E. Schler as Chief Operating Officer & CFO
ABOUT THE COMPANY
MacDonald Mines is a mineral exploration company with an established
history in the exploration of gold and base metals. MacDonald has set upon a
strategic direction of exploration in the Canadian Northlands, with particular
focus in Ontario, Saskatchewan and Quebec.
In 2008, MacDonald Mines was ranked second in the TSX Venture 50's Annual
Ranking of Top Canadian Mining Companies and trades under the symbol BMK.
WARNING: Except for historical information contained herein, the matters
discussed in this press release are forward-looking statements that involve
risks and uncertainties, including but not limited to economic, competitive,
governmental and technological factors effecting the Company's operations,
markets, products and prices and other factors discussed in the Company's
various filings with the Securities and Exchange Commission.
Neither 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 further information:
For further information: on the Company and its Properties, please visit
www.macdonaldmines.com; Contact by telephone: (416) 364-4986 or Toll Free:
1-800-818-5442, Brent Nykoliation, Vice President of Business Development, or
Richard Schler, Chief Operating Officer & CFO, Kirk McKinnon, President and