International Prospect Ventures Announces Shareholder Meeting Results and Option Grants

Rhea-AI Summary

International Prospect Ventures (TSXV: IZZ) held its annual general and special meeting on October 18, 2024, in Val-d'Or, Québec. Shareholders re-elected four incumbent directors and elected Don Smith as a new director to the Board. The company's auditor, stock option plan, and articles alteration were approved. Following the meeting, the Board reconstituted its committees and appointed officers, including Glenn J. Mullan as Executive Chairman, President & CEO. The Board also granted incentive stock options for the purchase of 3,320,000 common shares at $0.045 per share for a 5-year period.

Positive

• Election of a new director, Don Smith, with over 20 years of mining industry experience
• Approval of the 10% rolling stock option incentive plan
• Granting of 3,320,000 stock options to directors, officers, and consultants

Negative

• Stock options granted at a low price of $0.045 per share, potentially indicating current low stock value

Val-d'Or, Québec--(Newsfile Corp. - October 18, 2024) - International Prospect Ventures Ltd. (TSXV: IZZ) (the "Company") announces the results of its annual general and special meeting of shareholders (the "Meeting") held in Val-d'Or, Québec, and by telephone conference, on October 18, 2024.

At the Meeting shareholders set the number of directors to be elected at five, re-elected four incumbent directors, being Dr. Scott Jobin-Bevans, Glenn J. Mullan, Dr. Robert I. Valliant and Dr. C. Jens Zinke, and elected Don Smith as a new director to the Board. Don Smith is a geologist and entrepreneur with over 20 years of experience in the mining industry. Among other business endeavours, Mr. Smith is the Managing Director and Chief Executive Officer of Tempest Minerals Ltd., an Australian-based mineral exploration company with a diversified portfolio of projects in Western Australia.

Shareholders appointed McGovern Hurley LLP as the Company's auditor for the ensuing year and re-approved the previously adopted 10% rolling stock option incentive plan.

In addition, the shareholders approved, by a special resolution, the alteration of the Company's articles to include mandatory procedures for nominations of persons for election as directors, including advance notice and disclosure requirements for nominations by shareholders.

Following the Meeting, the Board reconstituted its Audit Committee and its Compensation and Corporate Governance Committee. The Board also appointed officers for the ensuing year as follows:

Executive Chairman, President & Chief Executive Officer:	Glenn J. Mullan
Chief Financial Officer & Corporate Secretary:	Rico De Vega
Vice President, Exploration:	Dr. Scott Jobin-Bevans

 

The Company's Board has granted incentive stock options to its directors, officers and consultants entitling the purchase of an aggregate 3,320,000 common shares at a per share price of $0.045 for a period of 5 years.

For additional information, please contact:

Glenn J. Mullan
2772 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@groupzedzed.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227102

FAQ

What were the main outcomes of International Prospect Ventures' (TSXV: IZZ) shareholder meeting on October 18, 2024?

The main outcomes included the re-election of four incumbent directors, election of Don Smith as a new director, approval of the auditor and stock option plan, and alteration of the company's articles for director nominations.

Who was appointed as the Executive Chairman, President & CEO of International Prospect Ventures (TSXV: IZZ)?

Glenn J. Mullan was appointed as the Executive Chairman, President & CEO of International Prospect Ventures.

How many stock options were granted by International Prospect Ventures (TSXV: IZZ) and at what price?

The company granted 3,320,000 incentive stock options at a price of $0.045 per share for a period of 5 years.

What changes were made to International Prospect Ventures' (TSXV: IZZ) articles at the shareholder meeting?

Shareholders approved the alteration of the company's articles to include mandatory procedures for nominations of persons for election as directors, including advance notice and disclosure requirements for nominations by shareholders.