RooGold Announces Results at AGM and Re-Election of Officers

Rhea-AI Summary

RooGold Inc. (CSE:ROO, OTC:JNCCF, Frankfurt: 5VHA) announced on June 22, 2022, that shareholders approved the re-appointment of directors Carlos Espinosa, Michael Singer, and Michael Mulberry during the June 21 meeting. They also sanctioned a new stock option plan, allowing for issuance of up to 10% of the company’s outstanding shares, totaling 7,255,995 shares. Post-meeting, Carlos Espinosa was reappointed as CEO, and Anup Sheopaul and Alexandra Bonner were designated as CFO and VP of Exploration, respectively. RooGold aims to expand its presence in Australia’s New South Wales mineral exploration sector.

Positive

• Shareholder approval of a new stock option plan potentially motivates and retains management and employees.
• Re-appointment of experienced directors could enhance strategic oversight.
• RooGold's portfolio includes 13 high-grade gold and silver concessions, indicating significant exploration potential.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 22, 2022 / (CSE:ROO) (OTC:JNCCF) (Frankfurt: 5VHA) -RooGold Inc. ("RooGold" or the "Company") is pleased to announce that at its shareholder meeting ("Meeting") on June 21, 2022, shareholders approved the re-appointment of Carlos Espinosa, Michael Singer and Michael Mulberry to the Board of Directors of the Company. Shareholders also approved, subject to final TSX Venture Exchange ("Exchange") acceptance, the adoption of a new "rolling up to 10%" stock option plan ("Stock Option Plan"), as disclosed in detail in the Meeting materials, that complies with Policy 4.4 of the Exchange. The maximum aggregate common shares that are issuable pursuant to the Stock Option Plan is 10% of the issued common shares of the Company ("Listed Shares"), a maximum of 10% of issued Listed Shares are issuable to insiders (as a group) in any 12 month period, a maximum of 5% of issued Listed Shares may be granted or issued pursuant to the Stock Option Plan to any one person, a maximum of 2% of issued Listed Shares may be granted or issued pursuant to the Stock Option Plan to any one Consultant or Investor Relations Service Provider. The Company currently has 72,559,950 common shares ("Listed Shares") issued and outstanding and accordingly, there are 7,255,995 Listed Shares issuable pursuant to the Stock Option Plan.

Immediately following the Meeting, the Directors approved the re-appointment of Carlos Espinosa as Chief Executive Officer & President, Remantra (Anup) Sheopaul as Chief Financial Officer & Corporate Secretary, and Alexandra Bonner as Vice-President Exploration.

About RooGold Inc.

ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.

For further information please contact:

Ryan Bilodeau
T: 416-910-1440
info@roogoldinc.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.

Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: RooGold Inc.

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https://www.accesswire.com/706136/RooGold-Announces-Results-at-AGM-and-Re-Election-of-Officers

FAQ

What was approved at RooGold's shareholder meeting on June 21, 2022?

Shareholders approved the re-appointment of directors and a new stock option plan allowing for the issuance of up to 10% of the company's outstanding shares.

What is the maximum number of shares issuable under RooGold's new stock option plan?

The new stock option plan allows for issuances of up to 7,255,995 shares, which is 10% of the issued common shares.

Who were re-appointed as executives at RooGold after the shareholder meeting?

Carlos Espinosa was re-appointed as CEO, Anup Sheopaul as CFO, and Alexandra Bonner as VP of Exploration.

What is RooGold's focus in the mineral exploration sector?

RooGold is focused on consolidating and exploring high-potential, mineralized properties in New South Wales, Australia.

What are RooGold's main mineral assets?

RooGold's portfolio includes 13 high-grade potential gold and silver concessions covering 1,380 km², featuring 137 historic mines and prospects.