Perpetua Resources Reports Results of 2024 Annual Meeting

Rhea-AI Summary

On May 17, 2024, Perpetua Resources announced the results of its 2024 annual general meeting held online on May 16, 2024. A total of 47,342,353 common shares, representing 73.83% of the outstanding shares, were voted. All nominated directors were elected, with notable votes for Marcelo Kim (98.05%), Chris Robison (99.79%), and Andrew Cole (99.90%). Shareholders approved setting the number of directors at ten and ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm. Additionally, a proposal to amend the Omnibus Incentive Plan to increase available shares for awards was approved (84.28%). Detailed voting results can be found on EDGAR.

Positive

• 73.83% of outstanding shares were represented at the annual meeting, indicating strong shareholder engagement.
• All director nominees were elected with high approval rates, the lowest being 98.05% for Marcelo Kim.
• Chris Robison received the highest approval rate at 99.79%, showing significant shareholder confidence.
• Shareholders approved setting the number of directors at ten, with 99.28% in favor.
• The appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm was ratified with 99.87% approval.
• The proposal to amend the Omnibus Incentive Plan to increase the aggregate number of shares available for awards was approved by 84.28% of shareholders.

Negative

• The lowest approval rate for a director nominee was 98.05%, still high but indicating some shareholder dissent.
• The proposal to amend the Omnibus Incentive Plan received the lowest approval rate of 84.28%, suggesting some reservations among shareholders.

BOISE, Idaho, May 17, 2024 /PRNewswire/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") today announced the results of its annual general meeting (the "Annual Meeting"), which was held online through a virtual meeting platform on May 16, 2024.

A total of 47,342,353 common shares were represented at the Annual Meeting, or 73.83% of the votes attached to all outstanding shares at the Company's record date of March 22, 2024. The Company's shareholders voted for the election of all director nominees listed in the Company's management information proxy circular. Detailed results of the vote for the election of directors are as follows: 

Name of Nominee	Votes For	Votes Withheld	Total Votes*	Percentage of Votes For*	Percentage of Votes Withheld*
Marcelo Kim	41,873,168	833,739	42,706,907	98.05 %	1.95 %
Chris Robison	42,818,936	89,659	42,908,595	99.79 %	0.21 %
Alex Sternhell	42,729,029	179,566	42,908,595	99.58 %	0.42 %
Bob Dean	42,803,175	105,420	42,908,595	99.75 %	0.25 %
Andrew Cole	42,867,428	41,167	42,908,595	99.90 %	0.10 %
Rich Haddock	42,834,956	73,639	42,908,595	99.83 %	0.17 %
Laura Dove	42,741,457	167,138	42,908,595	99.61 %	0.39 %
Jeff Malmen	42,814,492	94,103	42,908,595	99.78 %	0.22 %
Jon Cherry	42,844,933	63,662	42,908,595	99.85 %	0.15 %
Jessica Largent	42,209,553	697,042	42,906,595	98.38 %	1.62 %

* Not all shares were voted in respect of all resolutions therefore the combined number of shares voted for or withheld (and corresponding percentages) may not add up to the total shares represented at the Annual Meeting.

The directors were elected to hold offices until the next annual meeting of shareholders or until their successors are elected or appointed. The Company's shareholders also approved setting the number of directors at ten (99.28% voted in favor). 

The Company's shareholders also ratified the appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 at a remuneration to be set by the directors (99.87% voted in favor). 

The proposal to amend the Company's Omnibus Incentive Plan to increase the aggregate number of shares available for the grant of awards under such plan was also approved by shareholders (84.28% voted in favor).

Detailed voting results for the meeting are available on EDGAR at www.sec.com.

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources' ESG and sustainable mining goals, the Project will be powered by one of the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a U.S.-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has been awarded a TIA of $59.2 million in DPA Title III funding to advance construction readiness and permitting of the Project. Antimony trisulfide from Stibnite is the only known domestic source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. In addition to the company's commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.

Forward-Looking Information

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action, including anticipated approval of reimbursement requests under the definitized agreement; plans with respect to the ability of the Company and Ambri, Inc. to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release are based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Investors should be aware that funding under the DPA TIA is available only for the specified costs related to permitting, environmental baseline data monitoring, environmental and technical studies, and advancing construction readiness and is not available to fund the Company's costs under its Administrative Settlement and Order on Consent obligations and certain corporate expenses. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including Perpetua's Annual Report on Form 10-K filed with the SEC on March 26, 2024, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View original content:https://www.prnewswire.com/news-releases/perpetua-resources-reports-results-of-2024-annual-meeting-302148867.html

SOURCE Perpetua Resources Corp.

FAQ

What were the results of Perpetua Resources' 2024 annual meeting?

Perpetua Resources' 2024 annual meeting results included the election of all director nominees, setting the number of directors at ten, and ratifying PricewaterhouseCoopers LLP as the independent registered public accounting firm. A proposal to amend the Omnibus Incentive Plan was also approved.

How many shares were represented at Perpetua Resources' 2024 annual meeting?

A total of 47,342,353 common shares were represented at Perpetua Resources' 2024 annual meeting, equating to 73.83% of outstanding shares.

Who received the highest vote percentage for director at Perpetua Resources' 2024 annual meeting?

Chris Robison received the highest vote percentage for director at Perpetua Resources' 2024 annual meeting with 99.79% approval.

What percentage of votes approved the amendment to the Omnibus Incentive Plan at Perpetua Resources' 2024 annual meeting?

The amendment to the Omnibus Incentive Plan was approved by 84.28% of votes at Perpetua Resources' 2024 annual meeting.

Who was ratified as the independent registered public accounting firm for Perpetua Resources in 2024?

PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for Perpetua Resources in 2024 with 99.87% approval.

What was the approval rate for setting the number of directors at ten in Perpetua Resources' 2024 annual meeting?

The approval rate for setting the number of directors at ten in Perpetua Resources' 2024 annual meeting was 99.28%.