Magna Mining Announces Results of Annual & Special Meeting of Shareholders

Rhea-AI Summary

Magna Mining held its Annual & Special Meeting of Shareholders on June 28, 2024. Key outcomes included the election of board members Jason Jessup, Carl DeLuca, John Seaman, Vernon Baker, Jonathan Goodman, and new addition Shastri Ramnath. Ms. Ramnath, CEO of Exiro Minerals and Chair of Orix Geoscience, brings 25 years of experience in nickel exploration and leadership roles.

Shareholders approved all resolutions, including the appointment of auditors, the reconfirmation and approval of the stock option plan, and the amended restricted share unit plan. The meeting also confirmed the prior grant of restricted share units under the amended plan, as detailed in the Management Information Circular dated June 3, 2024.

Positive

• Election of experienced board member Shastri Ramnath, who has 25 years of experience in nickel exploration.
• Approval of key resolutions including the stock option plan and amended restricted share unit plan.

Negative

• None.

Sudbury, Ontario--(Newsfile Corp. - July 2, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce the results of its Annual & Special Meeting of Shareholders (the "Meeting") held on June 28^th. Each of the matters is described in greater detail in the Notice of Annual & Special Meeting of Shareholders and the accompanying Management Information Circular dated June 3^rd, 2024 (the "Circular").

At the Meeting, the shareholders approved the election of Jason Jessup, Carl DeLuca, John Seaman, Vernon Baker, Jonathan Goodman, and Shastri Ramnath, each as listed in the Circular, with Ms. Ramnath joining the Company as a sixth board member. Ms. Ramnath is the CEO of Exiro Minerals, a private mineral exploration company and the Chair of Orix Geoscience, a geological consulting firm that she co-founded and co-owns. Ms. Ramnath is a professional geoscientist and entrepreneur with 25 years of global experience and has worked in various technical and leadership roles. Ms. Ramnath spent much of her career in nickel exploration, holding positions at Falconbridge, where she started, and subsequently at FNX Mining, where she was a key member of the exploration and resource team. Ms. Ramnath was also the CEO of Bridgeport, a publicly-listed company and is currently a director at Jaguar Mining (TSX: JAG).

All other resolutions at the Meeting were approved by shareholders including (i) the appointment of auditors; (ii) the reconfirmation and approval of the stock option plan of the Company; (iii) the reconfirmation and approval of the amended and restated restricted share unit plan of the Company (the "Amended RSU Plan"); and (iv) the confirmation and approval of the prior grant of restricted share units under the Amended RSU Plan, each as more particularly described in the Circular.

About Magna Mining Inc.

Magna Mining is an exploration and development company focused on nickel, copper and Platinum Group Metals (PGM) projects in the Sudbury Region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km² prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a technical report dated July 2023. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.magnamining.com).

For further information, please contact:

Jason Jessup
Chief Executive Officer

or

Paul Fowler, CFA
Senior Vice President
Email: info@magnamining.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215267

FAQ

What were the key outcomes of Magna Mining's Annual & Special Meeting on June 28, 2024?

The key outcomes included the election of board members, including new addition Shastri Ramnath, and the approval of all resolutions such as the stock option plan and amended restricted share unit plan.

Who was elected as a new board member at Magna Mining's shareholder meeting?

Shastri Ramnath was elected as a new board member. She is the CEO of Exiro Minerals and Chair of Orix Geoscience, with 25 years of experience in nickel exploration.

What resolutions were approved at Magna Mining's Annual & Special Meeting?

Shareholders approved the appointment of auditors, the stock option plan, the amended restricted share unit plan, and the confirmation of prior grants under the amended plan.

Which stock symbol is associated with Magna Mining in this press release?

Magna Mining is associated with the stock symbol MGMNF.