TVI Announces the Results of its Annual Meeting of Shareholders

CALGARY, June 10, 2016 /CNW/ - TVI Pacific Inc. (TSX: TVI) (OTC Pink: TVIPF) ("TVI" or "the Company") announces that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on June 9, 2016.  A total of 111,846,880 shares were represented in person or by proxy at the meeting, representing approximately 17.1% of the company's outstanding shares.

Results of Annual General Meeting

The following Board members stood for re-election and were duly re-elected: Clifford M. James, Robert C. Armstrong, C. Brian Cramm, Jan R. Horejsi, David Moscovitz, Peter C.G. Richards and Wayne G. Thomson. These directors will hold office until the next TVI annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation. Of the 111,846,880 votes cast, approximately 97.7% were in favour of the election of the directors, while 2.3% were withheld. 

Voting results for individual directors are set out below:

  Name of Nominee

  Votes For




  Robert C. Armstrong





  C. Brian Cramm





  Jan R. Horejsi





  Clifford M. James





  David Moscovitz





  Peter C. G. Richards





  Wayne G. Thomson






PricewaterhouseCoopers LLP was reappointed as the external auditor of TVI and will hold office until the next annual meeting at such remuneration as may be determined by the directors of the company. Approximately 97.6% of the votes cast supported the appointment of the auditor, while 2.4% were withheld.

Shareholders also approved TVI's Share Option Plan, through which the total number of common shares reserved for issuance as incentive stock options granted to insiders shall not exceed 10% of the total issued and outstanding common shares from time to time. TVI's Share Option Plan requires shareholder approval every three years and the currently approved plan will remain valid until 2019.  The voting was carried out by ballot and of the 94,975,800 votes cast, 92.2% were in favour of the Share Option Plan, while 7.8% were against.

About TVI Pacific Inc.

TVI Pacific Inc. is a Canadian resource company focused on the production, development, exploration and acquisition of resource projects in the Asia Pacific region.  TVI's track record of success includes putting the first foreign invested mine into production in the Philippines after the passage of the Philippines Mining Act of 1995.  From 2004 to 2014, the Canatuan mine produced 105,200 ounces of gold, 1.8 million ounces of silver, 199,778 dry metric tonnes of copper concentrate and 30,558 dry metric tonnes of zinc concentrate. 

TVI currently holds a 30.66% interest in TVIRD, a private Philippine resource company engaged in the production of nickel laterite ore at the Agata project, advancing its 100% owned Balabag Gold-Silver project towards production and achieving a listing on the PSE in 2016.  In addition to its interest in TVIRD, TVI also holds (i) a 28.26% equity interest in Foyson Resources Limited; (ii) a 14.4% equity interest in Mindoro Resources Ltd.; (iii) a 10% interest in the Amazon Bay Iron Sands project in Papua New Guinea; and (iv) a 100% investment in shares of TG World.  


Certain information set out in this News Release constitutes forward-looking information.  Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe", "scheduled", "to be", "will be" and similar expressions.  Forward-looking statements in this News Release are based upon the opinions and expectations of management of the Company as at the effective date of such statements.  Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct.  Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements. 

Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2015, which was filed on SEDAR on March 24, 2016 and is available under the Company's profile at  Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.

SOURCE TVI Pacific Inc.

For further information: Shirley Anthony, VP Corporate Communications, TVI Pacific Inc., Phone: 778.999.2771, E-mail:


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