Montoro Announces Election of Directors and AGM Results

VANCOUVER, BC / ACCESSWIRE / June 28, 2019 / International Montoro Resources Inc. (TSX-V: IMT) (the “Company”).

Annual General Meeting Results:

International Montoro Resources Inc. (TSX-V: IMT) is pleased to announce that the nominees listed in the Management Information Circular for the 2019 Annual General Meeting of Shareholders (the “AGM”) held on June 27, 2019 were elected as directors for the upcoming year. The shareholders re-elected Gary Musil, Roger Agyagos, Brent Griffin and Fraser Rieche. The scrutineer reported that there were a total of 40 shareholders holding 5,470,307 shares represented in person or by proxy at the meeting. This represents 15.13% of the total 36,157,105 shares issued and outstanding as at Record Date. Detailed results are set our below:

Resolution Votes for (%)
1. Fixing the number of Directors 93.60%
2. Election of Directors:
– Gary Musil 99.02%
– Roger Agyagos 93.60%
– Brent Griffin 93.36%
– Fraser Rieche 93.60%
3. Appointment of Auditors 93.60%
4. Approval of the Stock Option Plan 93.36%

The final resolution submitted by management to shareholders for consideration was also approved as presented; that being the ratifying of the Company’s Advance Notice Policy (“ANP”) at 93.36%; as attached to the Information Circular as Schedule “C”. In order for the ANP to remain in effect, the ANP must be ratified, confirmed and approved at each subsequent annual general meeting.

At the Directors Meeting following; the directors re-appointed Gary Musil as President/Chief Executive Officer and Fraser Rieche as Corporate Secretary/Chief Financial Officer for the upcoming year. The Audit Committee will be comprised of Gary Musil, Roger Agyagos and Brent Griffin. The Directors also fixed the remuneration to be paid to the auditors for the financial year ended August 31, 2018.

Bruce E. Bried did not stand for re-election this year. The Board of Directors would like to thank Mr. Bried for his advice, support and services on the board for over 17 years and serving on various committees during that time. All the best to Mr. Bried in his retirement and future endeavours.

The Board of Directors would also like to thank the Company’s shareholders for their patience and continued support in these difficult markets throughout the past year.

About International Montoro Resources Inc.

(i) In February 2019 Montoro entered into acquisition agreements with various vendors, to acquire claims in the Cariboo Mining Division, British Columbia, and following Exchange approval on the Wicheeda North claims (1,444 ha.), the Company has increased the claim block by a further (563 ha) for a total 2007 ha. The claim block adjoins the well-known Wicheeda REE discovery on the north and northwest.

(ii) Montoro will continue to focus on advancing its 100%-owned Serpent River – Elliot Lake, Northern Ontario, Pecors magnetic anomaly – a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha.

(iii) In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property. The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha. Additional staking of thirty-two (32) adjoining mineral claims and compiling of data has been underway since February; and the expanded property now totals approximately 2,300 ha and prospective for Titanium, Vanadium, and Chromium.

(iv) In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.


“Gary Musil”

Gary Musil,
President/CEO and Director

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

Neither 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 release.

SOURCE: International Montoro Resources Inc.

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