York Harbour Metals Announces Results of Shareholder Meeting

Rhea-AI Summary

York Harbour Metals Inc. (TSXV: YORK) (OTCQB: YORKF) held its annual general and special meeting on July 10th, 2024, where shareholders approved several key matters. These included the election of new board members, appointment of auditors, approval of financial statements, and the adoption of a restricted share unit (RSU) plan and a 10% rolling stock option plan.

The newly elected board consists of Blair L. Naughty, Richard G. Macey, Leo P. Power, and Michael Williams. The company's RSU Plan allows for up to 10% of outstanding shares (6,852,904 shares) to be issued as RSUs, while the Option Plan permits up to 10% of outstanding shares to be issued as stock options. Both plans are subject to insider participation limits and vesting conditions.

Positive

• Shareholders approved all proposed matters, indicating strong investor support
• Implementation of RSU and stock option plans may help attract and retain talent

Negative

• Potential dilution of up to 20% of outstanding shares through RSU and stock option plans combined

Vancouver, British Columbia--(Newsfile Corp. - July 17, 2024) - York Harbour Metals Inc. (TSXV: YORK) (OTCQB: YORKF) (FSE: 5DE0) (the "Company" or "York"), is pleased to announce that the Company held its annual general and special meeting (the "Meeting") on July 10^th, 2024, during which the following matters were voted upon and approved by the shareholders of the Company:

• The election of Mr. Blair L. Naughty, Mr. Richard G. Macey, Mr. Leo P. Power and Mr. Michael Williams to the board of directors of the Company. Mr. R. Bruce Durham and Mr. Roger Baer did not stand for re-election, and the Company wishes to thank each of them for their past contributions.
• The appointment of MS Partners LLP as auditors of the Company for the ensuing year and authorizing the directors of the Company to fix their remuneration.
• The approval of the audited financial statements for the year ended January 31^st, 2024.
• The approval of the Company's restricted share unit plan (the "RSU Plan").
• The approval of the Company's 10% rolling stock option plan (the "Option Plan"), all as more particularly described in the Company's management information circular dated June 11^th, 2024 (the "Circular")

The previous 10% rolling stock option plan of the Company was approved by the Company's shareholders on July 26^th, 2023, and the Option Plan was re-approved as the current stock option plan in accordance with the policies of the TSX Venture Exchange (the "Exchange") by the board of directors effective June 11^th, 2024, subject to the approval of the shareholders and the Exchange. The maximum number of common shares which may be issued under the Option Plan is 10% of the Company's issued and outstanding common shares (the "Shares") as of the date of grant. The maximum number of restricted share units ("RSUs") that may be granted under the RSU Plan shall not exceed 10% of the Company's issued and outstanding (6,852,904 Shares), and each RSU entitles the holder, subject to vesting of at least one year from the date of grant and any such other conditions as the directors may determine, to receive one Share. The maximum aggregate number of Shares issuable to insiders of the Company (as a group) under the Option Plan and RSU Plan shall together collectively not exceed 10% of the issued and outstanding number of Shares. A copy of each of the Option Plan and the RSU Plan was appended to the Circular and is available under the Company's profile on SEDAR+.

About York Harbour Metals

York Harbour Metals Inc. (TSXV: YORK) (OTCQB: YORKF) (FSE: 5DE0) is an exploration and development company with two high-grade projects in Newfoundland, Canada. The York Harbour Copper-Zinc-Silver Project is located approximately 27 km from Corner Brook. Recently, the Company entered into an option agreement with Firetail Resources (an Australian-listed company) to earn a 75% interest by completing specific work and payment milestones. Further details on this agreement can be found on the Company's website.

The Bottom Brook Rare Earth Elements Project, covering 15,150 hectares, is located next to the Trans-Canada Highway and just 27 km from the deep-water port at Turf Point, Newfoundland.

For further details on York Harbour Metals, please contact us via email at info@yorkharbourmetals.com or call +1-778-302-2257. Visit the Company's website at www.yorkharbourmetals.com for past news releases, media interviews, and opinion-editorial pieces by management.

On Behalf of the Board of Directors,

"Blair Naughty"
CEO and President

Email: info@yorkharbourmetals.com
Phone: 778-302-2257
Website: https://yorkharbourmetals.com

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

Cautionary Statement Regarding Forward-Looking Information

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for the development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216819

FAQ

What were the key outcomes of York Harbour Metals' (YORKF) July 10, 2024 shareholder meeting?

The key outcomes included the election of new board members, approval of auditors, financial statements, and the adoption of a restricted share unit (RSU) plan and a 10% rolling stock option plan.

Who are the newly elected board members of York Harbour Metals (YORKF)?

The newly elected board members are Blair L. Naughty, Richard G. Macey, Leo P. Power, and Michael Williams.

What is the maximum number of shares that can be issued under York Harbour Metals' (YORKF) new RSU plan?

The RSU plan allows for a maximum of 10% of the company's issued and outstanding shares, which equals 6,852,904 shares.

How does York Harbour Metals' (YORKF) new stock option plan work?

The stock option plan is a 10% rolling plan, allowing for up to 10% of the company's issued and outstanding shares to be granted as stock options.