Torr Announces Results of Annual General and Special Shareholders Meeting
March 14, 2023
Vancouver, British Columbia – March 14, 2023. Torr Metals Inc. (the "Company") (TSX-V: TORR) The Company is pleased to announce the approval of all matters proposed to its shareholders pursuant to its management information circular dated February 7, 2023 (the "Circular") at its annual general and special meeting (the "Meeting") held earlier today. At the Meeting, the shareholders elected Malcolm Dorsey, Sean Mager, Ewan Webster, Nicholas Stajduhar, and John Williamson as directors of the Company, appointed MS Partners LLP as auditors for the ensuing year and authorized the directors to set their remuneration, approved the Company's 10% rolling stock option plan ("Option Plan"), and approved the Company's restricted share unit plan ("RSU Plan"), all of which are more particularly described in the Circular.
The previous 10% rolling stock option plan of the Company was approved by the Company's shareholders on February 10, 2022, and the Option Plan and the RSU Plan were updated in accordance with the policies of the TSX Venture Exchange (the "Exchange") and adopted by the board of directors effective February 7, 2023, subject to approval of the shareholders and the Exchange. The maximum number of common shares which may be issued under the Option Plan is 10% of the Company's issued and outstanding common shares (the "Shares") as of the date of grant. The maximum number of restricted share units ("RSUs") that may be granted under the RSU Plan shall not exceed 3,593,129 Shares, and each RSU entitles the holder, subject to vesting of at least one year from the date of grant and any such other conditions as the directors may determine, to receive one Share. The maximum aggregate number of Shares issuable to insiders of the Company (as a group) under the Option Plan and RSU Plan shall together collectively not exceed 10% of the issued and outstanding number of Shares. A copy of each of the Option Plan and the RSU Plan was appended to the Circular and is available under the Company's profile on SEDAR.
For further information concerning this press release, please contact Malcolm Dorsey, President, Chief Executive Officer, and Director of Torr Metals Inc. at:
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