Major Precious Metals Reports of Voting Results From Shareholder Meeting

Rhea-AI Summary

Major Precious Metals shareholders approved resolutions at the annual meeting on September 12, 2022, including a voluntary delisting from the NEO Exchange due to ongoing weak market conditions. 99.96% of votes supported the delisting to preserve business interests. The delisting will take effect on October 7, 2022. Additionally, the election of directors was overwhelmingly supported, with all receiving over 99% approval. The stock option and restricted share unit plans were also approved, ensuring continued shareholder alignment.

Positive

• Shareholders overwhelmingly approved voluntary delisting, suggesting strong support for company strategy.
• Board of directors re-elected, indicating stability and confidence in leadership.
• Stock option and restricted share unit plans approved, aligning management's interests with shareholder value.

Negative

• Delisting from the NEO Exchange may reduce visibility and liquidity for shareholders.
• Prolonged weak market conditions may impact company operations and investor sentiment.

Shareholders Approve Resolution to Delist Shares of Major Precious

VANCOUVER, British Columbia, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Major Precious Metals Corp. (“Major Precious Metals” or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ), announces that all matters presented for approval at its annual general and special shareholders' meeting (the "Meeting") held on September 12, 2022 were approved. A total of 101,569,242 common shares representing 38.56% of the Company's issued and outstanding common shares were voted in person or represented by proxy at the Meeting.

In particular, resolutions approving the following matters were passed:

• Delisting: The delisting of the Company's shares from the NEO Exchange (“Exchange”), with 101,524,042 votes (representing 99.96% of votes cast) in favour by a majority of the shareholders that voted. The Company's board of directors determined that a voluntary delisting (the “Delisting”) of the Company's common shares from the Exchange due to prolonged weak market conditions, owed greatly to a continued market-driven disconnect between the share price of the Company, relative to its believed true asset value, would be in the best interests of its shareholders and the Company in order to preserve its current business.
  
  The Exchange has accepted the Company's application to delist its common shares from the Neo Exchange effective at the close of business on October 7, 2022. Despite the Delisting, the Company will continue to be subject to ongoing disclosure and other obligations as a reporting issuer under applicable securities legislation in Canada.
  
  
• Election of Directors: The election of the individuals noted below. The report on proxies provided by the Company's transfer agent indicated the following:
  
  Joel Dumaresq received 101,538,742 votes (representing 99.967% of votes cast); Fred Tejada received 101,538,742 votes (representing 99.97% of votes cast); Stephen Stine received 101,538,742 votes (representing 99.97% of votes cast); James Henning received 101,536,222 votes (representing 99.97% of votes cast); and Anthony (Tony) Williams received 101,538,742 votes (representing 99.97% of votes cast).
  
  
• Appointment of Auditors: The Company received 11,569,242 votes (representing 100% of votes cast) to re-appoint Dale Matheson Carr-Hilton Labonte LLP as the Company's independent auditor for the ensuing year and to authorize the directors to fix the auditor's remuneration.
  
  
• Stock Option Plan: The Company received 101,506,042 votes (representing 99.94% of votes cast) to approve the Company's 20% rolling stock option plan.
  
  
• Restricted Share Unit Plan: The Company received 101,524,042 votes (representing 99.94% of votes cast) to approve the Company's restricted share unit plan.
  

About Major Precious Metals Corp.

Major Precious Metals is a Canadian mining company advancing exploration of its flagship Skaergaard Project in eastern Greenland, which contains one of the world's largest palladium and gold deposits outside the major PGM producing areas of Russia and South Africa. The Company is focused on creating shareholder value by accelerating the progress of the Skaergaard Project along the Mine Development Cycle.

Additional information relating to Major Precious Metals is available at www.majorprecious.com and SEDAR at www.sedar.com.

The NEO Exchange has neither approved nor disapproved the contents of this news release.

On behalf of the Board of Directors

MAJOR PRECIOUS METALS CORP.

Tony Williams
Chairman and CEO
Suite 810 – 789 West Pender Street
Vancouver, BC V6C 1H2
Ph: 1-877-475-0963
info@majorprecious.com

Forward-looking Information Statement

This news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of a mineral resource estimate for the Skaergaard Project, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

FAQ

What did Major Precious Metals shareholders approve on September 12, 2022?

Shareholders approved the voluntary delisting from the NEO Exchange and the election of directors, among other resolutions.

When will Major Precious Metals' delisting take effect?

The delisting will take effect on October 7, 2022.

How many votes were cast in favor of the delisting at the meeting?

A total of 101,524,042 votes, representing 99.96% of votes cast, were in favor of the delisting.

What is the significance of the delisting for SIZYF shareholders?

The delisting may limit liquidity and market visibility, potentially affecting shareholder value.

What plans were approved by Major Precious Metals shareholders?

Shareholders approved the stock option plan and the restricted share unit plan, ensuring management's interests align with those of shareholders.