LAKEWOOD, Colo., June 9, 2016 /CNW/ -- General Moly, Inc. (the "Company") (NYSE MKT andTSX: GMO), a U.S.-based molybdenum mineral development, exploration and mining company, announced that it received approval for all proposals submitted to stockholders at its annual Meeting of Stockholders, which was held June 8, 2016 in Lakewood, Colorado.
Stockholders supported the re-election of Mark A. Lettes and Bruce D. Hansen, also the Company's Chief Executive Officer, to the Board of Directors, who will serve for a term of three years and through an advisory vote, approved of the Company's executive compensation structure. Stockholders also approved an amendment to Company's 2006 Equity Incentive Plan to increase the aggregate number of shares authorized for issuance by 5,000,000 shares to 14,600,000 shares. Lastly, the stockholders ratified the selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for 2016.
Voting results on all matters voted on at the annual Meeting of Stockholders will be filed on SEDAR at www.sedar.com.
About General Moly
General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT and the Toronto Stock Exchange under the symbol GMO. The Company's primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with the Company's wholly-owned Liberty Project, a molybdenum and copper property also located in central Nevada, General Moly's goal is to become the largest pure play primary molybdenum producer in the world.
Statements herein that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company's ability to obtain a re-grant of its water permits and to maintain required federal and state permits to continue construction, commence production and its ability to raise required project financing, as well as adverse governmental regulation and judicial outcomes such as the appeal of the Record of Decision and estimates related to cost of production, capital, operating and exploration expenditures. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.
SOURCE General Moly, Inc.