Crown Mining Announces AGM Results and Name Change to US Copper Corp
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Toronto, Ontario--(Newsfile Corp. - March 29, 2021) - Crown Mining Corporation (TSXV: CWM) (FSE: C73) ("Crown" or the "Company") announces that at the Company's Annual General and Special Meeting of Shareholders ("AGSM"), held on March 29, 2021, shareholders approved a special resolution to change the name of the Company to US Copper Corp. A total of 18,556,471 common shares were represented in person or by proxy at the AGSM, representing 20.05% of the votes attached to all outstanding common shares of the Company as at the record date. All the matters submitted to the shareholders, as set out in the Notice of Meeting and Information Circular dated February 22, 2021, were voted in favour, including fixing the size of the Board of the Company to six, the ratification of the Company's 10% rolling stock option plan and the appointment of A Chan & Company LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing year.
Messrs. Dunn, Vydra, Morrow, Cole, and Fairbairn were re-elected to serve as directors of the Company. Norm Yurik was also elected to act as a new director of the Company, replacing Stephen Hughes who did not stand for re-election. The detailed results of the vote are set out below:
|Nominee||Outcome of Vote||Voted||Voted (%)|
Mr Yurik is a CPA and recently retired tax partner at Deloitte LLP. While at Deloitte LLP, he led the Merger and Acquisition Group in British Columbia, and was responsible for tax planning with both public companies and high net worth individuals.
"We are very pleased to welcome Mr. Yurik to the Crown team," commented Mr. Dunn, President, CEO of Crown. "Norm's extensive knowledge in tax, mergers and acquisitions and corporate governance will greatly assist Crown as we move the company forward. I would also like to sincerely thank Mr Hughes for his contribution and service as a Director. Personally, and on behalf of the Board of Directors, I wish him all the best in his future endeavours."
With the shareholders approving the special resolution to change the name of the Company to US Copper Corp, the Company will now seek the necessary regulatory approvals to complete this name and symbol change and expects the process to be completed in the next few weeks. Our shares will continue to trade under our existing ticker symbols on the TSX Venture Exchange until the US Copper Corp ticker symbol "USCU" becomes effective. The Company will continue to update its shareholders as the name and ticker symbol change progresses.
About Crown Mining Corp.
Crown controls approximately 15 square miles of patented and unpatented federal mining claims in the Light's Creek Copper District in Plumas County, NE California; essentially, the entire District. The District contains substantial copper (silver) sulfide and copper oxide resources in three deposits - Moonlight, Superior and Engels, as well as several partially tested and untested exploration targets.
The Superior and Engels Mines operated from about 1915-1930 producing over 161 million pounds of copper from over 4 million tons of rock containing 2.2% copper with silver and gold credits.
The Moonlight Deposit was discovered and drilled by Placer Amex during the 1960's. Details of the resources on Crown's property and the parameters used to calculate them can be found in the "Technical Report and Preliminary Economic Assessment for the Moonlight Deposit, Moonlight-Superior Copper Project, California, USA" dated April 12, 2018 on both the company's website at www.crownminingcorp.com or on www.sedar.com under the Crown Mining Corp profile.
Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release.
For Further Information Contact:
Mr. Stephen Dunn, President, CEO and Director, Crown Mining Corporation (416) 361-2827 or email firstname.lastname@example.org.
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 press release.
This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities laws and regulations, including statements regarding the future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "hopes", "anticipates", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including those described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which are available at www.sedar.com. Investors are cautioned not to place undue reliance upon forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78835
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