Mundoro Reports on Annual General Meeting Results and Options Grant

Vancouver, British Columbia--(Newsfile Corp. - July 3, 2020) - Mundoro Capital Inc. (TSXV: MUN) (www.mundoro.com) ("Mundoro" or the "Company"), is pleased to announce the voting results of the Annual General Meeting held on June 30, 2020 (the "Meeting"). Shareholders voted as follows on the matters before the meeting:

Board Members

Shareholders elected the following 4 board members with shareholders represented at the meeting voting in favour of individual directors as follows:

 Director Nominee  Percentage of Votes
 John Hoey
 92.01%
 Teo Dechev
 92.50%
 Michael Calyniuk
 92.01%
 Nick Hatch
 92.50%

 

Appointment of Auditors

Shareholders approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.

The Company's shareholders voted in favor of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.

Furthermore, the Company issued 1,545,000 stock options to its employees, consultants, officers and directors on June 30, 2020. The stock options were issued in accordance with Mundoro's Stock Option Plan, are exercisable into common shares of Mundoro at $0.12 (being the closing price on the TSX Venture Exchange on June 29, 2020) over a five-year term.

On behalf of the Board,

Teo Dechev
Chief Executive Officer, President and Director

About Mundoro Capital Inc.

Mundoro is a Canadian listed (TSXV: MUN) precious and base metal company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. Mundoro has generated an attractive mineral project pipeline in Serbia and Bulgaria, as well as an investment in a producing gold mine in Bulgaria, in order to drive long-term growth and achieve shareholder return. Potential future returns for our shareholders from our mineral properties can be in various forms such as discovery of mineral resources, royalties, advance royalty payments from partners, an interest in production, dividend payments or sale of our interest in the mineral property.

For further information please contact:

Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055

Caution Concerning Forward-Looking Statements

This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue" or similar words or the negative thereof, and include the following: completion of the earn-in expenditures and options by JOGMEC; and completion of a definitive joint venture agreement by the parties. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the mineral potential of the Timok North Properties, the Company's future strategy and business plan and execution of the Company's existing plans. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59082

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