Luminex Announces Results of Shareholder Meeting

Rhea-AI Summary

Luminex Resources Corp. (OTCQX: LUMIF) held its annual general meeting on September 10, 2020, in Vancouver, where shareholders approved all proposed resolutions. Directors elected for the upcoming year include Marshall Koval and Lyle Braaten. Additionally, the Board approved an amendment to the stock option plan, increasing the maximum shares reserved from 4 million to 9 million, pending TSX Venture Exchange approval. Luminex is focused on gold and copper projects in Ecuador, particularly the Condor Gold-Copper project and collaborations with BHP Group plc and Anglo American on other ventures.

Positive

• Shareholders approved all resolutions, ensuring stable governance.
• Increase in stock option plan shares from 4 million to 9 million could incentivize employee performance and retention.

Negative

• None.

VANCOUVER, BC, Sept. 10, 2020 /PRNewswire/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the "Company" or "Luminex") announces the results of its annual general meeting of shareholders held on September 10, 2020 in Vancouver (the "Meeting"). Luminex's shareholders voted in favour of each of the matters considered at the Meeting, including electing each of Marshall Koval, Lyle Braaten, Donald Shumka, David Farrell and John Wright as directors of the Company to hold office for the ensuing year, and appointing auditors for the ensuing year and authorizing the board of directors to set their remuneration.

Additionally, the Board of Directors has approved amending the Company's stock option plan (the "Plan") to increase the maximum number of common shares in the capital of the Company reserved for issuance pursuant to the exercise of options granted under the Plan from 4,000,000 common shares to 9,000,000 common shares. The amendment remains subject to final approval of the TSX Venture Exchange.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR; OTCQX: LUMIF) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex's inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American respectively.

Further details are available on the Company's website at https://luminexresources.com/.

To receive news releases please sign up at https://www.luminexresources.com/contact/contact-us/.

LUMINEX RESOURCES CORP.

Signed: "Marshall Koval"

Marshall Koval, CEO and Director

Neither the 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 news release.

View original content:http://www.prnewswire.com/news-releases/luminex-announces-results-of-shareholder-meeting-301128023.html

SOURCE Luminex Resources Corp.

FAQ

What were the results of Luminex Resources' annual general meeting on September 10, 2020?

Shareholders approved all resolutions, including the election of directors and amendments to the stock option plan.

What changes were made to Luminex Resources' stock option plan?

The maximum number of common shares for the stock option plan was increased from 4 million to 9 million, pending TSX Venture Exchange approval.

Who were elected as directors of Luminex Resources Corp. during the 2020 AGM?

Marshall Koval, Lyle Braaten, Donald Shumka, David Farrell, and John Wright were elected as directors.

What is the focus of Luminex Resources in Ecuador?

Luminex Resources focuses on gold and copper projects in Ecuador, notably the Condor Gold-Copper project.

What collaborations is Luminex Resources involved in?

Luminex is co-developing projects with BHP Group plc and Anglo American.