On December 19, Pure Energy Minerals Limited held its Annual General Meeting (AGM) where significant decisions were made regarding the company’s future direction. Shareholders gathered to vote on various resolutions that will shape the company’s trajectory. The results indicate strong support from shareholders for the board’s recommendations.
The most notable outcome of the AGM was the appointment of William Morton to the board of directors, bringing fresh leadership and expertise to the company. Morton, who also serves as President and CEO, expressed gratitude to shareholders for their continuous support and participation during the meeting.
The facts
During the meeting, shareholders voted on several resolutions, all of which received approval. A total of 10,700,467 common shares, representing approximately 31.50% of the outstanding shares, were cast either in person or via proxy. The approved resolutions included:
Reappointment of auditors
One of the critical decisions was the reappointment of Baker Tilly WM LLP as the company’s auditors. This decision reaffirms the shareholders’ trust in the auditing firm to oversee the financial integrity of Pure Energy Minerals.
Board composition and Long-Term Incentive Plan
Shareholders also agreed to maintain the board size at five directors. The elected nominees include Marceau Schlumberger, Daniel Barnosky, Yuwei Hong, Cameron Hosie, and William Morton. Additionally, the approval of a new Long-Term Incentive Plan is expected to align the interests of the board and shareholders, fostering a collaborative approach to the company’s growth.
Morton remarked, “We are grateful for the active involvement of our shareholders and their ongoing support as we navigate the future of Pure Energy Minerals.” This sentiment underscores the importance of shareholder engagement in the company’s strategic decisions.
About Pure Energy Minerals
Pure Energy Minerals is at the forefront of lithium resource development, particularly in the Clayton Valley of central Nevada. The company has consolidated a significant land position in this area, known for its rich lithium deposits. The importance of lithium cannot be overstated, as it plays a vital role in the production of batteries for electric vehicles and renewable energy storage.
In a strategic move to enhance its operations, Pure Energy entered into an Earn-In Agreement with Schlumberger Technology Corp., a subsidiary of SLB (formerly known as Schlumberger Limited). This agreement grants Schlumberger the option to acquire the company’s interests in the Clayton Valley Project, positioning Pure Energy to leverage Schlumberger’s expertise in resource development.
Looking ahead
The AGM results and the new board appointment highlight a positive outlook for Pure Energy Minerals as it seeks to capitalize on its lithium resources. The company remains focused on advancing its projects and creating value for its shareholders. With Morton’s leadership and the backing of the board, Pure Energy is poised to make significant strides in the lithium market.
Forward-looking statements
It is important to note that this announcement contains forward-looking statements as defined by Canadian securities laws. These statements are based on management’s current expectations and beliefs regarding future events, subject to risks and uncertainties. The company has made significant assumptions about its ability to advance resource development and create shareholder value, but actual results may vary.
The most notable outcome of the AGM was the appointment of William Morton to the board of directors, bringing fresh leadership and expertise to the company. Morton, who also serves as President and CEO, expressed gratitude to shareholders for their continuous support and participation during the meeting.0