Gatos Silver Announces Results of Annual Stockholders’ Meeting

Rhea-AI Summary

Gatos Silver reported that stockholders voted in favor of all business items at the Annual Meeting on June 6, 2024. Out of 50,802,836 votes cast, 74.43% of the outstanding shares participated. Director elections included Janice Stairs with 89.16% votes for, Dale Andres with 99.91%, Ali Erfan with 99.89%, Igor Gonzales with 99.83%, Karl Hanneman with 81.54%, Charles Hansard with 89.17%, David Peat with 81.96%, and Daniel Muñiz Quintanilla with 99.50%.

Stockholders also ratified Ernst & Young LLP as the independent accounting firm for 2024 with 99.26% votes in favor.

Gatos Silver, a silver dominant company, primarily operates the Cerro Los Gatos mine and holds 70% in the Los Gatos Joint Venture in Chihuahua, Mexico.

Positive

• 74.43% of outstanding shares participated in the vote, indicating strong stockholder engagement.
• All director nominees received high approval rates, with the lowest being 81.54% for Karl Hanneman.
• Dale Andres received a near-unanimous 99.91% approval, suggesting strong confidence in his leadership.
• Ernst & Young LLP was ratified as the independent registered public accounting firm with 99.26% votes in favor, ensuring continuity in financial oversight.

Negative

• Karl Hanneman and David Peat received the lowest approval rates among director nominees, indicating potential dissent among shareholders.
• The overall participation rate of 74.43% implies that almost one-quarter of shares did not vote, which could point to some disengaged stockholders.

VANCOUVER, British Columbia, June 07, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) today reported that its stockholders voted in favour of all items of business at the Company’s Annual Meeting of stockholders held on June 6, 2024 (the “Meeting”). A total of 50,802,836 votes were cast or represented by proxy at the Meeting representing 74.43% of the outstanding shares of common stock as of the record date. A total of 46,481,235 votes (including “for” and “withheld” but excluding “non-votes”) were voted in connection with the election of directors.

The results on the election of directors are set out below (excluding non-votes).

Name of Nominee	Votes For	% For	Votes Withheld	% Withheld
Janice Stairs	41,444,667	89.16	5,036,568	10.84
Dale Andres	46,438,144	99.91	43,091	0.09
Ali Erfan	46,428,271	99.89	52,964	0.11
Igor Gonzales	46,401,194	99.83	80,041	0.17
Karl Hanneman	37,899,716	81.54	8,581,519	18.46
Charles Hansard	41,447,713	89.17	5,033,522	10.83
David Peat	38,094,727	81.96	8,386,508	18.04
Daniel Muñiz Quintanilla	46,247,444	99.50	233,791	0.50

At the Meeting, stockholders also ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ended December 31, 2024. The results are set out below (excluding 22 abstentions).  

Votes For	% For	Votes Withheld	% Withheld
50,425,136	99.26	377,678	0.74

About Gatos Silver

Gatos Silver is a silver dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua State, Mexico. As a 70% owner of the Los Gatos Joint Venture (“LGJV”), the Company is primarily focused on operating the Cerro Los Gatos mine and on growth and development of the Los Gatos district. The LGJV includes approximately 103,000 hectares of mineral rights, representing a highly prospective and under-explored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets.

Investors and Media Contact

André van Niekerk
Chief Financial Officer
investors@gatossilver.com
+1 604 424 0984

FAQ

What were the results of the Gatos Silver Annual Meeting on June 6, 2024?

Stockholders approved all items, including the election of directors and the ratification of Ernst & Young LLP as the accounting firm.

How many shares participated in the Gatos Silver Annual Meeting 2024?

A total of 50,802,836 shares participated, representing 74.43% of the outstanding shares.

What were the director election results at the Gatos Silver Annual Meeting 2024?

Director election results ranged from 81.54% to 99.91% votes in favor for different nominees.

Was Ernst & Young LLP ratified as the accounting firm for Gatos Silver?

Yes, Ernst & Young LLP was ratified with 99.26% votes in favor.

What is Gatos Silver's primary focus?

Gatos Silver focuses on operating the Cerro Los Gatos mine and developing the Los Gatos district in Chihuahua, Mexico.