Vancouver, British Columbia--(Newsfile Corp. - September 6, 2019) - Benz Mining Corp. (TSXV: BZ) (the "Company" or "Benz") announces the results of its annual general meeting held on September 3, 2019, in Vancouver, British Columbia (the "Meeting").
At the Meeting, all nominees were elected as directors of the Company. A total of 4,212,461 common shares were voted at the meeting representing 16.01% of the issued and outstanding shares. Shareholders voted in favour of the election of all director nominees as shown in the following table:
|Percentage of votes in favour
|Carlos J. Escribano
|Ronald A. Hall
In addition, at the Meeting, shareholders also (i) re-appointed Lancaster & David, Chartered Professional Accountants, as auditors of the Company; and (ii) approved the existing stock option plan of the Company.
Board of Directors
Benz is pleased to announce the appointment of Nick Tintor as Chairman of the Board of Directors.
Mr. Tintor is a mining executive and geologist who holds a Bachelor of Science in Geology from the University of Toronto and has more than 30 years of experience in the Canadian mining industry. For the past 20 years, he has been involved in all aspects of junior mining company management from project generation, to finance and executive management. He also brings deep global relationships in the mining industry and especially in the Canadian resources investment banking sector.
Miloje Vicentijevic, President and CEO of Benz Mining Corp., stated, "I am very pleased that Nick Tintor, who has been a director of the Company for the past few months, has agreed to become the Chairman of the Company, and look forward to working with him in developing the Eastmain Gold project and overall corporate strategic goals."
Benz also announces that it has agreed with certain directors and officers of the Company to cancel an aggregate of 231,678 stock options previously held by such directors and officers.
The Company also confirms it has granted an aggregate of 200,000 incentive stock options on September 5, 2019 to a consultant of Benz at an exercise price of $0.11 per Common share for a period of two years. Such options have been granted pursuant to the Company's 10% rolling stock option plan and are in accordance with policies of the Exchange.
Under the Company's rolling 10% stock option plan (the "Plan"), the Company may grant up to an aggregate of 2,631,709 stock options. Upon completion of the cancellation and grant, the Company will have 2,561,598 stock options outstanding under the Plan, of which there are 200,000 stock options exercisable at a price of $0.11 per common share expiring on September 5, 2021; 22,598 stock options exercisable at a price of $3.00 per common share expiring on January 18, 2025; 434,000 stock options exercisable at a price of $0.19 per common share expiring on March 9, 2027; 1,255,000 stock options exercisable at a price of $0.265 per common share expiring on August 31, 2027;and 650,000 stock options exercisable at a price of $0.10 per common share expiring on May 4, 2028.
About Benz Mining Inc.
Benz is a Vancouver based mineral company publicly listed on the TSX Venture Exchange. It is focused on acquiring and developing mineral base and precious metal assets in safe jurisdictions.
On behalf of the Board of Directors of Benz Mining Corp.
Miloje Vicentijevic, President and Chief Executive Officer
For more information please contact Benz Mining Corp. Telephone: 604.617.1239 Email: email@example.com
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Benz Mining Corp. The forward-looking information is based on certain key expectations and assumptions made by the Company's management. Although the Company believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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