Xtra-Gold Reports Voting Results of Annual General Meeting of Shareholders

Rhea-AI Summary

Xtra-Gold Resources Corp. (TSX: XTG; OTCQB: XTGRF) announced the voting results of its Annual General Meeting held on June 14, 2024. A total of 26,626,228 common shares, representing 57.763% of the company's issued and outstanding shares, were voted. Key resolutions approved include the appointment of Reliant CPA PC as auditors and the election of six directors with nearly unanimous support. Additionally, shareholders voted 97.747% in favor of amending the stock option plan to extend the exercise price period following a participant's death from 1 year to 3 years.

Positive

• High shareholder participation with 57.763% of shares voted.
• Unanimous approval for the appointment of Reliant CPA PC as auditors.
• Nearly unanimous support for all six director nominees, with over 98.787% votes in favor.
• Strong shareholder support (97.747%) for amending the stock option plan to extend the exercise period following death.

Negative

• scope of the AGM focusing mainly on administrative resolutions.

Toronto, Ontario--(Newsfile Corp. - June 17, 2024) - XTRA-GOLD RESOURCES CORP. (TSX: XTG) (OTCQB: XTGRF) ("Xtra-Gold" or the "Company") - is pleased to announce the voting results of its Annual General Meeting (the "AGM") of shareholders of the Company (the "Shareholders") held on June 14, 2024. A total of 26,626,228 common shares representing 57.763% of the issued and outstanding shares of the Company were voted at the AGM. Resolutions relating to the following matters were approved by a majority of the votes cast at the ASM.

Appointment of Auditors
Reliant CPA PC, Chartered Accountants were appointed as the auditors of the Company for the ensuing year.

Election of Directors
The number of directors to be elected to the board of directors of the Company ("Board") was set at six. The following nominees proposed by management were elected as directors of the Company to hold office until the next annual meeting of Shareholders or until their successors is elected or appointed.

DIRECTOR	VOTES FOR	%	VOTES WITHHELD	%
Peter Minuk	24,821,422	99.99%	263	0.01%
James Schweitzer	24,520,622	98.787%	301,063	1.23%
James Longshore	24,821,422	99.99%	263	1.05%
Denis Laviolette	24,520,622	98.787%	301,063	1.23%
Hans Morsches	24,520,622	98.787%	301,063	1.23%
Todd Gibson	24,821,422	99.99%	263	0.01%

 

Stock Option Plan

The Shareholders voted 97.747% in favor of the amendment to the company's stock option plan to extend the exercise price period following the death of the participant from 1 year to 3 years under the Company's stock option plan.

Contact Information
For further information please contact:

James Longshore: President and CEO 
Telephone: 242-363-3864
E-mail: info@xtragold.com
Website: www.xtragold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213260

FAQ

What were the results of Xtra-Gold's Annual General Meeting voting?

A total of 26,626,228 common shares were voted, representing 57.763% of the issued and outstanding shares. Key resolutions, including the appointment of auditors and election of directors, were approved by a majority.

Who was appointed as the auditor for Xtra-Gold Resources?

Reliant CPA PC was appointed as the auditor for Xtra-Gold Resources for the ensuing year.

How many directors were elected to Xtra-Gold's board during the AGM?

Six directors were elected to Xtra-Gold's board during the AGM.

What was the shareholder approval rate for the amendment to the stock option plan?

The amendment to the stock option plan was approved by 97.747% of the shareholders.

What change was made to Xtra-Gold's stock option plan?

The exercise price period following a participant's death was extended from 1 year to 3 years.