a special resolution to change the name of the Company to “Beyond Lithium Inc.” to more accurately reflect the Company’s focus on lithium assets; and
an ordinary resolution, subject to disinterested shareholder approval, to ratify and confirm the adoption of the Company’s new omnibus equity incentive plan (the “Equity Incentive Plan“) to replace its current incentive stock option plan.
Allan Frame, President and CEO, commented: “We feel changing the name of the Company to Beyond Lithium Inc. makes good sense as we are now the largest greenfield lithium exploration player in Ontario. We are currently working with our technical team to plan the 2023 exploration season which starts shortly. I look forward to updating shareholders once these plans and budgets are finalized.”
The Company recently became the largest greenfield lithium exploration player in Ontario by optioning 57 high potential greenfield lithium properties totalling 125,751 hectares and acquiring through staking three properties totalling 9,104 hectares, bringing its total lithium property portfolio in Ontario to 66 properties covering 147,975 hectares.
The Company also proposes to replace its existing stock option plan with the Equity Incentive Plan to provide for the flexibility to grant equity-based incentive awards in the form of stock options, restricted share units, deferred share units, performance share units, and stock appreciation rights. A summary of the Equity Incentive Plan, together with the full text thereof, is set out in the Company’s management information circular in respect of the Meeting dated April 10, 2023 (the “Information Circular“).
The nominees for election to the Company’s board of directors include current directors Craig Gibson, Michelle DeCecco, James Campbell, and Tom Provost and the Company’s recently appointed new President and CEO, Allan Frame.
Wanda Cutler and Jean-François Meilleur, directors of the Company since its incorporation in October 2019, have advised the Company that they will not be standing for re-election at the Meeting, in order to focus on their respective roles and responsibilities at certain other public companies. Management and the board of directors of the Company would like to thank Ms. Cutler and Mr. Meilleur for their valuable contributions to the Company and wish them success with their other endeavors.
Registered shareholders of the Company as of the record date of April 10, 2023 (the “Record Date“) will be eligible to vote at the Meeting. Meeting materials, including the Company’s Information Circular, will be available via the Company’s profile on SEDAR at www.sedar.com and will be mailed to all shareholders as of the Record Date on or about April 24, 2023.
About Beyond Minerals Inc.
Beyond Minerals Inc. is the largest greenfield lithium exploration player in Ontario with 66 high potential greenfield lithium properties totalling almost 150,000 hectares. The Company has adopted the project generator business model to maximize funds available for exploration projects, while minimizing shareholder dilution. Beyond Minerals is advancing certain of its projects with its exploration team and will seek to option other properties to joint venture partners. Partnering on various projects will provide a source of non-dilutive working capital, partner-funded exploration, and long-term residual exposure to exploration success.
Please follow @BeyondMinerals on Twitter, Facebook, LinkedIn, Instagram and YouTube.
For more information, please refer to the Company’s website at www.beyondminerals.ca.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company’s projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking information. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as “pro forma”, “plans”, “expects”, “will”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In stating the forward-looking information in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company’s properties, the availability of financing on suitable terms, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the statements of forward-looking information. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, the proposed expenditures for exploration work on its properties, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID-19, the Company’s limited operating history, currency fluctuations, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading “Risk Factors” in the Company’s prospectus dated February 23, 2022 and other filings of the Company with the Canadian securities regulatory authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update any of the forward-looking information in this news release except as otherwise required by law.
For further information, please contact:
President and CEO
Manager of Communications
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