Vancouver -
Prima Diamond Corp. (TSXv: PMD, FSE: 2P6) (“Prima”) (the “Company”) is pleased to announce the results from its Annual General and Special Meeting held on March 21, 2016 in Vancouver, British Columbia, Canada.
A total of 15,807,750 common shares (48.32% of the outstanding shares) were represented at the Meeting.
Each of the director nominees proposed by management for election were elected by 100% of the votes that were cast. Dusan Berka, Sean Charland, Darryl Jones and Foster Wilson were elected to the Board of Directors.
Foster Wilson and Darryl Jones are new directors of the Company. Mr. Wilson has over 30 years of experience in exploration and development ranging from reserve drilling and estimation, feasibility studies, mine permitting and development. He has worked in various capacities for
Placer Dome Inc.,
Echo Bay Mines Ltd.,
American Bonanza Gold Corp. and various junior exploration companies.
Mr. Jones has over 12 years of capital market experience and an established financial network. Prior to joining the Company, Mr. Jones was an Investment Advisor with PI Financial Corp Canada and Raymond James Ltd Canada. He was responsible for raising significant risk capital for growth companies in all sectors, with a particular focus on natural resources. Mr. Jones brings a network of contact within the financial community from across North America and Europe.
At the meeting, shareholders also approved the following resolutions:
- Appointment of MNP LLP Chartered Accountants, as auditors for the ensuing year and authorizing the directors to fix their remuneration;
- Approval of the 2016 Stock Option Plan;
- Approval to consolidate the share capital of the Company on the basis of five pre-consolidated common shares for every one post consolidated common share;
- Adoption of new Articles of Incorporation of the Company, as set out in the Management Information Circular as filed on SEDAR; and
- Adoption of advance notice provisions to the new Articles of the Company.
ON BEHALF OF THE BOARD PRIMA DIAMOND CORP.
“David Hodge”
David Hodge, President and CEO
Tel: 604.681.1568
info@primadiamond.com
Neither the 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.
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. For example forward looking statements in this press release include that the share consolidation of five old for one new will occur. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that our shareholders may not approve the share consolidation, the TSXV may not approve the acquisition on the negotiated terms, creditors may not complete debt settlements, we may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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