Silver Bear Announces AGM Results
30 July 2014 - 9:00PM
Marketwired Canada
Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased
to announce that shareholders voted in favour of all items of business brought
before them at the Company's Annual and Special General Meeting of Shareholders
(the "AGM") held in Toronto, Ontario on July 10, 2014. In accordance with the
policies of the Toronto Stock Exchange, all of the nominees listed in the
management proxy circular dated June 12, 2014 for the AGM were elected as
directors of the Company.
Robin Birchall, Executive Chairman of the Company said, "I would like to thank
the whole Silver Bear team in Toronto and Yakutia, for their hard work this
year. While it has been a difficult year, we have achieved a major milestone by
obtaining shareholder approval to complete the second tranche of our private
placement financing and are excited to welcome Alexey Sotskov to the Board of
Directors of the Company. The Company hopes to be able to provide an operational
update in the near future upon completion of the second tranche of the
financing."
Detailed results of the vote for the election of directors held at the AGM are
set out below.
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Votes % Votes Votes % Votes
For For Withheld Withheld
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Robin Birchall 67,346,546 99.93% 50,000 0.07%
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Mark Trevisiol 67,346,546 99.93% 50,000 0.07%
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J. Trevor Eyton 67,346,546 99.93% 50,000 0.07%
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Anastasia Gracheva 67,346,546 99.93% 50,000 0.07%
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Paul Dominic Gualtieri 67,346,546 99.93% 50,000 0.07%
----------------------------------------------------------------------------
Alexey Sotskov 67,346,546 99.93% 50,000 0.07%
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Chris Westdal 67,346,546 99.93% 50,000 0.07%
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Shareholders approved the appointment of PricewaterhouseCoopers LLP, Licensed
Public Accountants as the auditors of the Company for the 2014 fiscal year and
authorized the Board of Directors to fix their remuneration and re-approved and
confirmed the Company's Stock Option Plan and approved all unallocated options
under the Stock Option Plan.
In addition, the disinterested shareholders approved the issuance of up to
41,005,882 common shares of the Company, which forms part of the second tranche
of a previously announced private placement financing (See Press Releases Dated
April 2, 2014 and May 21, 2014). The Company anticipates the closing of the
second tranche of the private placement financing will occur on or before August
8, 2014.
A total of 70,815,466 common shares were voted in connection with the Meeting,
representing approximately 59% of the issued and outstanding common shares of
the Company. The results of other matters considered at the Meeting are reported
in the Report of Voting Results as filed by the Company on SEDAR
(www.sedar.com).
Silver Bear Resources Inc.
The primary business of the Company is the evaluation, acquisition, exploration
and development of silver properties in the Russian Federation. The Company's
principal focus is the Mangazeisky exploration lease and the Vertikalny Deposit,
over which Silver Bear has exclusive exploration/mining rights. It is located
approximately 400 kilometres north of Yakutsk in the Republic of Sakha, Yakutia
in the Russian Federation.
Silver Bear Resources Inc. is listed on the Toronto Stock Exchange and its
common shares trade under the ticker symbol "SBR". Silver Bear has 120,075,300
issued and outstanding common shares. Other information relating to Silver Bear
is available on SEDAR at www.sedar.com as well as on the Company's website at
www.silverbearresources.com.
Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company
may contain forward-looking statements, which reflect management's expectations.
Wherever possible, words such as "intends", "expects", "scheduled", "estimates",
"anticipates", "believes" and similar expressions or statements that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved, have been used to identify these forward-looking
statements. Although the forward-looking statements contained in this release
reflect management's current beliefs based upon information currently available
to management and based upon what management believes to be reasonable
assumptions, Silver Bear cannot be certain that actual results will be
consistent with these forward-looking statements. A number of factors could
cause events and achievements to differ materially from the results expressed or
implied in the forward-looking statements. Such risks factors include but are
not limited to uncertainties inherent to preliminary economic assessments, which
are based on many assumptions that might not be realized, risks with respect to
operating in Russia, downward fluctuations in silver prices, regulatory risks,
including with respect to obtaining all required permits, corruption and other
risks factors identified by Silver Bear in its continuous disclosure filings
filed from time to time on SEDAR. These factors should be considered carefully
and prospective investors should not place undue reliance on the forward-looking
statements. Forward-looking statements necessarily involve significant known and
unknown risks, assumptions and uncertainties that may cause Silver Bear's actual
results, events, prospects and opportunities to differ materially from those
expressed or implied by such forward-looking statements. Although Silver Bear
has attempted to identify important risks and factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors and risks that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, prospective investors should not
place undue reliance on forward-looking statements. These forward-looking
statements are made as of the date of this release, and Silver Bear assumes no
obligation to update or revise them to reflect new events or circumstances,
unless otherwise required by law.
For further details, please visit www.silverbearresources.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Silver Bear Resources Inc.
Mark Trevisiol
President and Chief Executive Officer
+1-416-861-5893
mtrevisiol@silverbearresources.com
Silver Bear Resources Inc.
Robin Birchall
Executive Chairman
UK: +44 771 131 3019
www.silverbearresources.com
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