TORONTO, May 13, 2024
/CNW/ - Geodrill Limited ("Geodrill" or the "Company") (TSX: GEO),
a leading West African based drilling company, announced the voting
results of its Annual and Special Meeting of Shareholders (the
"Meeting") held on May 13, 2024.
The nominees listed in the management information circular dated
April 4, 2024 were elected as
directors of the Company at the Meeting. Detailed results of the
vote are set out below:
|
Director
|
Outcome of
Vote
|
Yes
|
No
|
Abstain
|
|
Dave Harper as
Director
|
Carried
|
32,561,306
99.990%
|
0
0.000%
|
3,165
0.010%
|
|
John Bingham as
Director
|
Carried
|
32,478,049
99.735%
|
0
0.000%
|
86,422
0.265%
|
|
Ronald Sellwood as
Director
|
Carried
|
32,561,470
99.991%
|
0
0.000%
|
3,001
0.009%
|
|
Peter Prattas as
Director
|
Carried
|
32,561,470
99.991%
|
0
0.000%
|
3,001
0.009%
|
|
Appointment of
Auditor
|
Carried
|
33,771,362
100%
|
0
0.000%
|
1
0.000%
|
|
Purchase of Ordinary
Shares
|
Carried
|
32,546,070
99.943%
|
18,401
0.057%
|
0
0.000%
|
Note: Numbers do not add due to rounding.
At the Meeting, the shareholders also re-appointed
PricewaterhouseCoopers LLP, Chartered Professional Accountants, as
the auditors of the Company and passed a special resolution
authorizing the Corporation to purchase its own shares through a
substantial issuer bid or normal course issuer bid as set forth in
the management information circular dated April 4, 2024.
In addition, in May, 2024 management exercised 195,000 options
at an exercise price of CAD$1.36 for
proceeds of approximately CAD$265,200.
The exercise of options demonstrates the confidence management
has in Geodrill and further aligns us with our shareholders," said
Dave Harper, Chief Executive
Officer.
About Geodrill Limited
Geodrill has been successful in establishing a leading market
position in Ghana and Cote d'Ivoire. The Company also operates in
other African jurisdictions including Egypt, Mali,
Senegal and is expanding its
geographic presence in the South
America countries of Chile
and Peru. With the largest fleet
of multi-purpose rigs, Geodrill provides a broad selection of
diverse drilling services, including exploration, delineation,
underground and grade control drilling, to meet the specific needs
of its clients. The Company's client mix is made up of senior
mining, intermediate and junior exploration companies.
www.geodrill-gh.com
Forward Looking
Information
This press release may contain "forward-looking information"
which may include, but is not limited to the future financial or
operating performance of the Company, its subsidiaries, future
growth, results of operations, performance, business prospects and
opportunities. Often, but not always, forward-looking statements
can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "believes", or variations (including
negative variations) of such words and phrases, or by the use of
words or phrases that state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements are based on certain
assumptions and analyses made by the Company in light of its
experience and perception of historical trends, current conditions
and expected future developments and other factors it believes are
appropriate. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company and/or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements contained in this press release
including, without limitation those described in the Management's
Discussion & Analysis for the quarter ended March 31, 2024 and the Company's Annual
Information Form dated March 28, 2024
under the heading "Risk Factors". Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in such forward-looking statements, there may be other
factors that may cause actions, events or results to differ from
those anticipated, estimated or intended. Should one or more of
these risks or uncertainties materialize or should assumptions
underlying such forward-looking statements prove incorrect, actual
results, performance or achievements may vary materially from those
expressed or implied by the forward-looking statements contained in
this press release. The forward-looking information and
forward-looking statements contained herein are made as of the date
of this press release and the Company disclaims any obligation to
update or review such information or statements, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Geodrill Limited