October 28, 2021
CERRADO GOLD ANNOUNCES SUCCESSFUL RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS AND
APPOINTMENT TO BOARD OF DIRECTORS
All matters presented for shareholder approval were approved
Ms. Petra Decher appointed as independent member of the board of directors
TORONTO, ONTARIO - Cerrado Gold Inc. (TSX.V: 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:
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:
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:
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.