Stelmine pronounces the outcomes of its annual assembly

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QUÉBEC, Jan. 26, 2024 (GLOBE NEWSWIRE) — Stelmine Canada (« Stelmine ») (STH-TSXV) at the moment introduced the outcomes of the annual assembly of its shareholders on this date (the “Assembly”). In the course of the Assembly, the candidates advisable by administration, being André Proulx, Isabelle Proulx, Emmanuel Goulet, Michel Boily, Normand Goulet and Vaughn David Bricknell, have been elected as administrators of the Firm. Brunet Roy Dubé, CPA S.E.N.C.R.L, have been appointed because the Firm’s impartial auditors, and the Company’s Inventory Choice Plan (“Inventory Choice Plan”) was re-approved by the Firm’s shareholders.

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Stelmine is proud to welcome Mr. Bricknell to its board of administrators and is satisfied he’ll play an lively position within the path of Stelmine. Mr Vaughn David Bricknell is a undertaking/fund supervisor, with 28 years of expertise in Monetary Companies, since 1995 a managing member of Madewell Investments CC of South Africa, the place his tasks embody portfolio evaluation and administration by means of to publish -retirement mutual funds, fee reconciliation, structuring and Purchase and Promote Agreements. Since 2016 he’s additionally Chief Monetary Officer for Fortune Fuels Restricted of South Africa, the place he oversees gasoline import, gross sales distribution and retail enterprise in addition to elevating capital for mining, aviation, and storage amenities. He has additionally served as Fund Supervisor for Listco Capital Restricted (Hong Kong) for fourteen years, the place he raised capital for mining, building, and property offers on three continents. Mr. Bricknell has a B.Sc. in Amount Surveying, which offers with administration of all points of the contractual and monetary facet of building initiatives.

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On the identical time, the Firm pronounces the departure of Mrs. Julie Lemieux from the board of administrators. Nevertheless, she’s going to proceed to accompany the Firm as a administration marketing consultant. Administration wish to thank her for her involvement on the Board, her dedication to fundraising and the visibility she delivered to Stelmine. We want her all the perfect in her future skilled endeavors.

Corrections / Clarifications – Non-public Placement

Stelmine needs to make sure corrections to its press launch dated December 30, 2023 regarding its $700,300 personal placement (the “Providing”). Beneath the ultimate tranche, accomplished on December 29, 2023, a complete of 236,470 flow-through items (and never 117,647) have been issued. As well as, an quantity of $40,030 in money (not $40,005) was paid as finder’s charges in reference to the Providing. Lastly, Stelmine has waived the advantage of the acceleration clause, described within the press launch of December 12, 2023, regarding the warrants. Accordingly, all warrants issued underneath the Providing can be topic to the identical phrases and situations, with none acceleration clause. The Subscribers can be notified accordingly and new warrant certificates can be distributed.

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Issuance of Frequent Shares – AGORACOM

In reference to its advertising program with AGORACOM (see information launch dated December 14, 2023), Stelmine has issued to AGORACOM, on December 22, 2023, 376,667 widespread shares at a deemed value of $0.075 per share, in cost of charges within the quantity of $25,000 plus relevant taxes.

About Stelmine 

Stelmine is a junior mining firm engaged within the improvement of the brand new Caniapiscau gold district (east of James Bay), within the under-explored japanese a part of the Opinaca metasedimentary basin the place the geological context options similarities with the Éléonore mine, which is situated very near the contact with the identical basin. Stelmine owns 100% of the 1,784 claims or 917 km² on this a part of northern Québec, highlighted by the Mercator and Courcy initiatives.

Ahead-looking statements

Some data on this press launch could include forward-looking statements, reminiscent of statements concerning the anticipated use of the proceeds from the Providing, acquisition and growth plans, availability of high quality acquisition alternatives, and development of the Firm. This data is predicated on present expectations and assumptions (together with assumptions in reference to acquiring all crucial approvals for an Providing and common financial and market situations) which are topic to important dangers and uncertainties which are tough to foretell. Precise outcomes may differ materially from outcomes advised in any forward-looking statements. Dangers that might trigger outcomes to vary from these acknowledged within the forward-looking statements on this launch embody these regarding the power to finish an Providing on the phrases described above. The Firm assumes no obligation to replace the forward-looking statements, or to replace the the reason why precise outcomes may differ from these mirrored within the forward-looking statements except and till required by securities legal guidelines relevant to the Firm. Further data figuring out dangers and uncertainties is contained within the Firm’s filings with the Canadian securities regulators, which filings can be found at SEDAR+.

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