Ascendant Resources Announces Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

Ascendant Resources announces results of annual and special meeting of shareholders

Positive

• All matters presented for shareholder approval at the Meeting were duly authorized and approved
• Number of Directors to be Elected resolution was approved with 98.95% votes in favor
• Election of Directors: all seven nominees were elected with favorable votes
• Appointment of Auditors: KPMG LLP was appointed as auditor
• Amended and Restated Omnibus Incentive Plan was approved with 89.52% votes in favor

Negative

• None.

TSX: ASND
www.ascendantresources.com

• All matters overwhelmingly approved by shareholders

TORONTO, Aug. 23, 2023 /PRNewswire/ - Ascendant Resources Inc. (TSX: ASND) (OTCQB: ASND) ("Ascendant" or the "Company") is pleased to announce the voting results of the Company's 2023 Annual and Special Shareholders' Meeting (the "Meeting") held on August 23, 2023, in Toronto, Ontario.

A total of 43,635,681 common shares were voted at the Meeting, representing 32.98% of the votes attached to all outstanding common shares of the Company.  All matters presented for shareholder approval at the Meeting were duly authorized and approved as follows:

Number of Directors to be Elected

On a vote by a show of hands, the resolution to set the number of directors to be elected at the meeting at seven (7) was approved. The following favourable votes were cast by proxy: 

	Total Votes	% of Votes Cast
Votes in Favour	43,175,341	98.95 %
Votes Against	460,340	1.05 %
Total Votes Cast	43,635,681	100 %

Election of Directors

The shareholders elected each of the seven nominees listed in the Company's Management Proxy Circular.  Details of the voting results are as follows

Name	Votes in Favour	%	Votes Withheld	%
Mark Brennan	42,263,782	98.83 %	501,592	1.17
Robert Campbell	42,494,276	99.37 %	271,098	0.63
Christopher Jones	38,656,682	90.39 %	4,108,692	9.61
Kurt Menchen	38,653,276	90.38 %	4,112,098	9.62
Rui Botica Santos	38,653,276	90.38 %	4,112,098	9.62
Robert Sellars	38,653,276	90.38 %	4,112,098	9.62
Stephen Shefsky	38,653,276	90.38 %	4,112,098	9.62

Appointment of Auditors

KPMG LLP was appointed auditor of the Corporation and the directors of the Corporation were authorized to fix the auditor's remuneration.  Details of the voting results are as follows:

	Total Votes	% of Votes Cast
Votes in Favour	43,178,747	98.95 %
Votes Withheld	456,934	1.05 %
Total Votes Cast	43,635,681	100 %

Amended and Restated Omnibus Incentive Plan

A ballot was conducted with respect to the Amended and Restated Omnibus Incentive Plan of the Corporation.  According to the proxies received and ballots cast by shareholders, the resolution to approve the Amended and Restated Omnibus Incentive Plan of the Corporation was approved.

	Total Votes	% of Votes Cast
Votes in Favour	38,283,059	89.52 %
Votes Against	4,482,315	10.48 %
Total Votes Cast	42,765,374	100 %

About Ascendant Resources Inc.

Ascendant Resources is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession.

Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cashflow generation potential.

Ascendant currently holds 80% interest in the Lagoa Salgada project through its position in Redcorp - Empreendimentos Mineiros, Lda, ("Redcorp").  The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "ASND". For more information on Ascendant, please visit our website at http://www.ascendantresources.com/.

Additional information relating to the Company, including the Preliminary Economic Assessment referenced in this news release, is available on SEDAR at www.sedar.com.

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SOURCE Ascendant Resources Inc.