TSX.V: FKM OTCQB:
FKMCF FRANKFURT: F7E1
ROUYN-NORANDA, QC, July 4, 2023
/CNW/ - Fokus Mining Corporation ("Fokus" or the
"Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE: F7E1) is pleased
to announce the results of its annual meeting of shareholders held
on June 29, 2023, in Rouyn-Noranda, Quebec. At the meeting, Fokus
shareholders re-elected Jean
Rainville, Sylvain Champagne,
Gilles Laverdière, Marc-André Lavoie, Ciro
Cucciniello, Steve Duchesne
and Jean-David Moore as directors of
Fokus. Following the meeting, Fokus Board of Directors re-appointed
Jean Rainville as President and
Chief Executive Officer and Sylvain
Champagne as Corporate Secretary and Chief Financial Officer
of the Company.
At the Meeting, Fokus shareholders also approved resolutions (i)
appointing Raymond Chabot Grant Thornton LLP, Chartered
Professional Accountants, as the auditor of Fokus, and (ii)
ratifying, approving and confirming Fokus' stock option plan.
Fokus also announces that its Board of Directors has granted,
subject to regulatory approval, including of the TSX Venture
Exchange, stock options in respect of 2,410,000 common shares to
Fokus' seven Directors and one consultant. The options were granted
pursuant to Fokus stock option plan. The exercise price of the
options is $0.08, which is higher of
the closing price of Fokus common shares on the TSX Venture
Exchange on Friday June 30, 2023. The
options vest immediately and will expire in five years for the
options granted to Directors and will expire in two years for the
options granted to the consultant.
Also, the Company shall, acting in the best interests of all of
its stakeholders, for proper risk management and subject to
prevailing market conditions, consider at the opportune time(s),
selling an appropriate number of shares currently owned in Mosaic
Minerals Corp.
About Fokus
Fokus Mining Corporation is a mineral resource company actively
acquiring and exploring precious metal deposits located in the
province of Québec, Canada. In
implementing this major undertaking within the Canadian mining
industry, we are determined to unlock the secret of the
Galloway gold project.
The Galloway project covers an
area of 2865.54 hectares and is located just north of the
Cadillac-Larder Lake deformation
which extends laterally for more than 100 km. Numerous gold
deposits are related to that structure and its subsidiaries. The
current work focuses on a small western portion of the mineral
claims where several mineral occurrences have been identified. For
more information, visit our website: fokusmining.com.
The TSX Venture Exchange and its Regulation Services Provider
(as that term is defined in the TSX Venture Exchange Policies) do
not accept any responsibility for the truth or accuracy of its
content.
Related Links
http://fokusmining.com/
Caution Regarding Forward-Looking
Statements
This news release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may
include, among others, statements regarding the future plans,
costs, objectives or performance of the Company, or the assumptions
underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect",
"anticipate", "intend", "plan", "estimate" and similar words and
the negative form thereof are used to identify forward-looking
statements. Forward-looking statements should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether, or the times at or
by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including additional closings
of the private placement or the result of, or benefits the Company
will obtained, if any, from any exploration works conducted on
its Galloway property. Forward-looking information is based on
information available at the time and/or management's good-faith
belief with respect to future events and are subject to known or
unknown risks, uncertainties, assumptions and other unpredictable
factors, many of which are beyond the Company's control. These
risks, uncertainties and assumptions include, but are not limited
to, those described under "Risk and Uncertainties" and "Financial
Risk Management Objectives and Policies" in the Company's Annual
Report for the fiscal year ended December
31, 2022, a copy of which is available on SEDAR at
www.sedar.com, and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
The Company does not intend, nor does the Company undertake any
obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
SOURCE Fokus Mining Corporation