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Cerrado Gold Announces Successful Results of Annual and Special Meeting of Shareholders and Appointment to Board of Directors

Oct 28, 2021

  • All matters presented for shareholder approval were approved
  • Ms. Petra Decher appointed as independent member of the board of directors

Toronto, Ontario–(Newsfile Corp. – October 28, 2021) – Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (“Cerrado” or the “Company”) is pleased to announce that at its Annual and Special Meeting of Shareholders (“Meeting“) held earlier today all matters presented to shareholders were approved. Details of the voting results are set out below.

New Independent Member of the Board

Immediately following the Meeting, Mr. David Ball resigned from the board of directors and was appointed Vice President, Business Development effective November 28, 2021. Ms. Petra Decher was appointed as a new independent member of the Board and Chair of the Audit Committee.

Ms. Decher is an experienced finance executive currently serving as an independent director and Chair of the Audit Committees of Ascendant Resources Inc. and Rockcliff Metlas Corp. Ms. Decher is the Chief Financial Officer of Marimaca Copper Corp., a Chilean copper development and exploration company. From 2009 to 2016, Ms. Decher was the Vice President, Finance and Assistant Secretary for Franco-Nevada Corporation. She previously served as the Lead Independent Director of Integra Gold Corp. until its acquisition by Eldorado Gold Corporation, the Lead Director of Marimaca Copper Corp. and was Chairwoman of the Board at Red Pine Exploration Inc. Ms. Decher is a Chartered Public Accountant and will Chair the Company’s Audit Committee.

Meeting Voting Results

A total of 27,898,210 common shares were voted at the Meeting, representing 36.55% of the votes attached to all outstanding common shares of the Company. All matters presented for shareholder approval at the Meeting were duly authorized and approved as follows.

Election of Directors

The shareholders elected each of the nine nominees listed in the Company’s Management Proxy Circular. Details of the voting results are as follows:

Name Votes in Favour % Votes Withheld %
Mark Brennan 22,093,706 99.995 1,203 0.005
Stephen Shefsky 18,296,906 82.811 3,798,003 17.189
David Ball 22,093,706 99.995 1,203 0.005
Robert Campbell 22,093,706 99.995 1,203 0.005
Jonathan Gilligan 22,093,706 99.995 1,203 0.005
Kurt Menchen 22,093,706 99.995 1,203 0.005
Oscar Neto 22,093,706 99.995 1,203 0.005
Elmer Prata Salomão 22,093,706 99.995 1,203 0.005
Jad Salomão 22,093,706 99.995 1,203 0.005

 

Appointment of Auditor

KPMG LLP was appointed auditor of the Corporation and the directors of the Corporation were authorized to fix the auditor’s remuneration. Details of the voting results are as follows:

Total Votes % of Votes Cast
Votes in Favour 25,332,118 99.892
Votes Withheld 27,303 0.108
Total Votes Cast 25,359,421 100

 

Amended and Restated Omnibus Incentive Plan

The Amended and Restated Omnibus Incentive Plan of the Company was approved by disinterested shareholders. Details of the voting results are as follows:

Total Votes % of Votes Cast
Votes in Favour 8,696,527 69.583
Votes Against 3,801,503 30.417
Total Votes Cast 12,498,030 100

 

Grant of Deferred Share Units and Options

The Company also announces that it has granted 725,000 deferred share units to members of the board of directors of the Company and 150,000 share purchase options (“Options”) to Mr. Ball in connection with his appointment under the Company’s Amended and Restated Omnibus Incentive Plan. The Options have a strike price of $1.53, a term of five years and vest as to one-third immediately and one-third on each of the following two anniversaries.

For further information please contact

Mark Brennan
CEO and Co Chairman
Tel: +1-647-796-0023
[email protected]

Nicholas Campbell, CFA
Director, Corporate Development
Tel.: +1-905-630-0148
[email protected]

About Cerrado Gold

Cerrado Gold is a public gold producer and exploration company with gold production derived from its 100% owned Minera Don Nicolás mine in Santa Cruz province, Argentina. It also owns 100% of the assets of Minera Mariana in Santa Cruz province, Argentina. The company is also undertaking exploration at its 100% owned Monte Do Carmo project located in Tocantins, Brazil. For more information about Cerrado Gold please visit our website at: www.cerradogold.com.

Disclaimer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado Gold. In making the forward-looking statements contained in this press release, Cerrado Gold has made certain assumptions, including, but not limited to ability of Cerrado to expand its drilling program at its Minera Don Nicolas Project and increase its resources. Although Cerrado Gold believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado Gold disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.