TORONTO, June 16,
2022 /CNW/ - Karora Resources Inc. (TSX: KRR)
("Karora" or the "Corporation") is pleased to announce the voting
results of its annual and special meeting of shareholders held
today.
Election of Directors
The nominee directors listed in Karora's management information
circular dated May 16, 2022 were
elected as directors. Shareholders present in person or represented
by proxy at the meeting voted as follows:
Director
|
Votes For (by
proxy)
|
Votes Withheld (by
proxy)
|
Peter Goudie
|
67,236,302
|
91.11 %
|
6,560,558
|
8.89 %
|
Scott M.
Hand
|
63,715,321
|
86.34 %
|
10,081,539
|
13.66 %
|
Paul Huet
|
71,219,722
|
96.51 %
|
2,577,138
|
3.49 %
|
Warwick Morley-Jepson
|
67,473,218
|
91.43 %
|
6,323,642
|
8.57 %
|
Shirley In't
Veld
|
71,236,172
|
96.53 %
|
2,560,688
|
3.47 %
|
Meri Verli
|
73,387,877
|
99.45 %
|
408,983
|
0.55 %
|
Chad
Williams
|
53,163,895
|
72.04 %
|
20,632,965
|
27.96 %
|
Other Items
The resolution to reappoint PricewaterhouseCoopers LLP,
Chartered Accountants, as auditors of the Corporation to hold
office until the next annual meeting of shareholders and to
authorize the directors to fix the remuneration to be paid to the
auditors was approved by 98.87% of the votes cast on the
resolution.
The resolution to approve Karora's Share Incentive Plan and the
unallocated entitlements thereunder was approved by 90.10% of the
votes cast on the resolution.
About Karora Resources
Karora is focused on increasing gold production to a targeted
range of 185,000-205,000 ounces by 2024 at its integrated Beta Hunt
Gold Mine and Higginsville Gold Operations ("HGO") in Western Australia. The Higginsville treatment
facility is a low-cost 1.6 Mtpa processing plant, which is fed at
capacity from Karora's underground Beta Hunt mine and Higginsville
mines. Karora recently announced the proposed acquisition of the
Lakewood Mill in Western Australia
which will initially add 1.0 Mtpa capacity. At Beta Hunt, a
robust gold Mineral Resource and Reserve are hosted in multiple
gold shears, with gold intersections along a 4 km strike length
remaining open in multiple directions. HGO has a substantial
Mineral gold Resource and Reserve and prospective land package
totaling approximately 1,900 square kilometers. The Company also
owns the high grade Spargos Reward project, which came into
production in 2021. Karora has a strong Board and management team
focused on delivering shareholder value and responsible mining, as
demonstrated by Karora's commitment to reducing emissions across
its operations. Karora's common shares trade on the TSX under the
symbol KRR and also trade on the OTCQX market under the symbol
KRRGF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information".
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Karora to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to Karora's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although Karora has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to
differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date
of this news release and Karora disclaims any obligation to update
any forward-looking statements, whether as a result of new
information, future events or results or otherwise, except as
required by applicable securities laws.
SOURCE Karora Resources Inc.