Paramount Gold Announces the Voting Results of Its 2020 Annual General Meeting

Rhea-AI Summary

Paramount Gold Nevada Corp. (PZG) held its annual stockholder meeting on December 10, 2020, with 62.22% of shares voting. Seven directors were elected, including Rudi Fronk and Glen Van Treek. The meeting also ratified MNP LLP as independent accountants for FY 2021, with 98.83% approval. Additionally, stockholders voted to increase authorized shares from 50 million to 200 million, achieving 85.54% approval. Overall, the meeting reflects strong shareholder engagement and support for the company's future endeavors.

Positive

• 62.22% of shares voted at the meeting, indicating strong shareholder engagement.
• All seven board nominees were elected with over 98% approval.
• MNP LLP ratified as independent accountants with 98.83% voting 'for'.
• Amendment to increase authorized shares from 50 million to 200 million received 85.54% approval.

Negative

• None.

WINNEMUCCA, Nev., Dec. 11, 2020 (GLOBE NEWSWIRE) -- Paramount Gold Nevada Corp. (“Paramount” or the “Company”) (NYSE American: PZG) announces the results of the votes from its annual general meeting of the stockholders which was held on December 10, 2020. There were 34,237,080 shares outstanding and entitled to vote at the meeting as of the record date of October 16, 2020, of which, 21,301,355 shares or 62.22% voted.

The stockholders elected the following seven individuals to Paramount’s Board of Directors for a one year term expiring at the 2021 Annual General Meeting: Rudi Fronk, Glen Van Treek, Rachel Goldman, Christopher Reynolds, John Carden, Eliseo Gonzalez-Urien, and Pierre Pelletier.

Detailed voting results of the election of directors were as follows:

Name of Nominee		For	Withheld	Percentage For	Percentage Withheld
Rudi Fronk		12,684,434	207,820	98.39%	1.61%
Glen Van Treek		12,693,526	198,728	98.46%	1.54%
Rachel Goldman		12,702,171	190,083	98.53%	1.47%
Christopher Reynolds		12,678,734	213,520	98.34%	1.66%
John Carden		12,653,928	238,326	98.15%	1.85%
Eliseo Gonzalez-Urien		12,673,883	218,371	98.31%	1.69%
Pierre Pelletier		12,681,704	210,550	98.37%	1.63%

There were 8,409,101 broker non-votes.

The stockholders ratified MNP LLP as our independent registered public accountants for the year ended June 30, 2021 with 21,050,501 (98.83%) voting ‘for’, 175,426 (0.82%) voting ‘against’ and 75,429 (0.35%) abstaining to vote.

The stockholders voted to approve an amendment to the Company’s amended and restated articles of incorporation to increase the Company’s authorized shares of common stock from 50,000,000 to 200,000,000 with 18,220,630 (85.54%) voting ‘for’, 3,007,586 (14.12%) voting ‘against’ and 73,139 (0.34%) abstaining to vote.

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About Paramount Gold Nevada Corp.

Paramount Gold Nevada Corp. is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account.
Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 8,200 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive Feasibility Study have been released and key permitting milestones accomplished.

Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada, the world’s premier mining jurisdiction. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares). The Sleeper gold project is host to a large gold deposit (over 4 million ounces of mineralized material) and the Company has completed and released a positive Preliminary Economic Assessment.

Safe Harbor for Forward-Looking Statements

This release and related documents may include "forward-looking statements" and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as "believes," "plans," "anticipates," "expects," "estimates" and similar expressions are intended to identify forward-looking statements, although these words may not be present in all forward-looking statements. Forward-looking statements included in this news release include, without limitation, statements with respect to the use of proceeds from the Offerings. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the conclusions made in the feasibility study for the Grassy Mountain Gold Project (the “FS”); the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the FS; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals and permits; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy Mountain Gold Project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs and between estimated and actual production; the global epidemics, pandemics, or other public health crises, including the novel coronavirus (COVID-19) global health pandemic, and the spread of other viruses or pathogens and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario, British Columbia and Alberta Securities Commissions.

Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

Paramount Gold Nevada Corp.
Rachel Goldman, Chief Executive Officer
Christos Theodossiou, Director of Corporate Communications
866-481-2233
Twitter: @ParamountNV