Avino Reports Voting Results of Its 2024 Annual General Meeting and Announces Retirement of Board Member Jasman Yee

Rhea-AI Summary

Avino Silver & Gold Mines reported the results of its 2024 Annual General Meeting held on May 30, 2024. All proposed resolutions were passed, with 46,123,595 common shares representing 34.71% of the total shares voted. Key resolutions included setting the number of Directors at four, electing Ronald Andrews, Peter Bojtos, Carolina Ordoñez, and David Wolfin to the Board, and appointing Deloitte LLP as auditors. The 2024 10% Rolling Stock Option Plan and Unallocated Entitlements under the 2018 Restricted Share Unit Plan were also approved. Additionally, Jasman Yee retired from the Board after 13 years, ending a 22-year tenure with the company.

Positive

• All proposed resolutions were passed at the AGM.
• 46,123,595 shares, representing 34.71% of total shares, were voted.
• Number of Directors set at four with 81.88% approval.
• Directors elected with high percentages: Ronald Andrews (96.83%), Peter Bojtos (96.83%), Carolina Ordoñez (96.70%), David Wolfin (97.09%).
• Deloitte LLP appointed and remunerated as auditors with 94.47% approval.
• 2024 10% Rolling Stock Option Plan approved with 88.18% approval.
• Unallocated Entitlements under the 2018 Restricted Share Unit Plan approved with 88.05% approval.

Negative

• Approximately 65.29% of the company's shares were not voted at the AGM.
• 18.12% of votes were against setting the number of Directors at four.
• 3.17% of votes withheld for electing Ronald Andrews and Peter Bojtos as Directors.
• 3.30% of votes withheld for electing Carolina Ordoñez as a Director.
• 2.91% of votes withheld for electing David Wolfin as a Director.
• 5.53% of votes withheld for appointing Deloitte LLP as auditors.
• 11.82% of votes against the 2024 10% Rolling Stock Option Plan.
• 11.95% of votes against the Unallocated Entitlements under the 2018 Restricted Share Unit Plan.

Avino Silver & Gold Mines Ltd. (TSX:ASM)(NYSE:ASM)(FSE:GV6) is pleased to report that at the Annual General Meeting of shareholders ("AGM") of the Company held on May 30, 2024, all resolutions proposed to shareholders were duly passed. 46,123,595 common shares of the Company, representing approximately 34.71% of the Company's issued and outstanding common shares as at the record date were voted.

The following briefly describes the matters voted upon and the outcome of the votes at the meeting:

Setting the Number of Directors at Four

According to proxies received and a vote conducted by a show of hands, the resolution regarding the setting of the number of Directors at four was passed as follows:

Votes For	% For	Votes Against	% Against
16,613,184	81.88	3,676,117	18.12

2. Election of Directors

According to proxies received and a vote conducted by a show of hands, the following directors were elected to the board of directors of the Company as follows:

Director Nominee	Votes For	% For	Votes Withheld	% Withheld
Ronald Andrews	19,645,838	96.83	643,463	3.17
Peter Bojtos	19,646,032	96.83	643,269	3.17
Carolina Ordoñez	19,619,166	96.70	670,135	3.30
David Wolfin	19,699,256	97.09	590,045	2.91

3. Appointment and Remuneration of Auditors

According to proxies received and a vote conducted by a show of hands, the resolution regarding the appointment and remuneration of Deloitte LLP, as Auditors of the Company was passed as follows:

Votes For	% For	Votes Withheld	% Withheld
43,571,298	94.47	2,552,297	5.53

4. Approval of the 2024 10% Rolling Stock Option Plan

According to proxies received and votes conducted by a show of hands, the ordinary resolutions of shareholders regarding the approval of the 2024 10% Rolling Stock Option Plan were passed by a majority of shareholders as follows:

Votes For	% For	Votes Against	% Against
17,892,109	88.18	2,397,192	11.82

5. Approval of Unallocated Entitlements under the 2018 Restricted Share Unit Plan

According to proxies received and votes conducted by a show of hands, the ordinary resolutions of shareholders regarding the approval of the Unallocated Entitlements under the 2018 Restricted Share Unit Plan were passed by a majority of shareholders as follows.

Votes For	% For	Votes Against	% Against
17,864,740	88.05	2,424,560	11.95

The Board of Directors appreciate the support of our shareholders.

Retirement of Jasman Yee from the Board of Directors

After 13 years of being on Avino's Board of Directors, Jasman Yee has decided to retire from the Company's Board, effective today. Jasman's commitment to Avino and the team spanned over 22 years. Throughout this time, he was the Company's Metallurgist and technical expert, and provided years of operational, managerial, engineering and consulting experience in the processing of precious and complex polymetallic base metal ores. His deep knowledge, strong relationships within the Company, and mining industry experience were instrumental in Avino's achievements over the years.

"We would like to say thank you to Jasman for his time and dedication to Avino. We are very happy for him as he begins his well-deserved retirement." said Peter Bojtos, Chairman of the Board. "The entire team at Avino will miss his guidance, wisdom and expertise. We wish him and his family all the best for this new chapter."

About Avino:

Avino is a silver producer from its wholly owned Avino Mine near Durango, Mexico. The Company's silver, gold and copper production remains unhedged. The Company intends long term sustainable and profitable mining operations rewarding to shareholders and the community alike through our growth at the historic Avino Property and the strategic acquisition of the adjacent La Preciosa which was finalized in Q1 2022. Avino currently controls mineral resources, as per NI 43-101, with a total mineral content of 371 million silver equivalent ounces, within our district-scale land package. We are committed to managing all business activities in a safe, environmentally responsible, and cost-effective manner, while contributing to the well-being of the communities in which we operate. We encourage you to connect with us on X (Formerly Twitter) at @Avino_ASM and on LinkedIn at Avino Silver & Gold Mines. To view the Avino Mine VRIFY tour, please click here.

For Further Information, Please Contact:

Investor Relations
Tel: 604-682-3701
Email: IR@avino.com

SOURCE: Avino Silver & Gold Mines Ltd.

View the original press release on accesswire.com

FAQ

What were the key outcomes of Avino's 2024 AGM?

All proposed resolutions were passed, including the election of four Directors and the approval of the 2024 10% Rolling Stock Option Plan.

Which Directors were elected at Avino's 2024 AGM?

Ronald Andrews, Peter Bojtos, Carolina Ordoñez, and David Wolfin were elected as Directors.

How many shares were voted at Avino's 2024 AGM?

46,123,595 shares, representing approximately 34.71% of the total shares, were voted.

Was Deloitte LLP appointed as Avino's auditor?

Yes, Deloitte LLP was appointed and remunerated as auditors with 94.47% approval.

Was the 2024 10% Rolling Stock Option Plan approved at Avino's AGM?

Yes, the 2024 10% Rolling Stock Option Plan was approved by a majority of 88.18%.

Was there any opposition to the resolutions at Avino's 2024 AGM?

Yes, there were notable percentages of votes against various resolutions, including 18.12% against setting the number of Directors at four and 11.82% against the 2024 10% Rolling Stock Option Plan.

Who retired from Avino's Board of Directors in 2024?

Jasman Yee retired from the Board of Directors after 13 years of service.