08 June 2018
June 8, 2018 – Halifax, Nova Scotia – Morien Resources Corp. (“Morien” or the “Company“) (TSXV:MOX) is pleased to announce its shareholders voted in favour of all items of business brought before them at the Company’s Annual and Special Meeting of Shareholders (“AGM”) held on June 7, 2018 in Halifax, Nova Scotia. Details of the AGM are provided below.
Election of Directors
The number of directors was set by the board of directors at four, with John Byrne, Charles Pitcher, William Ritchie and John Budreski (Chairman of the Board) re-elected to the Company’s board of directors for the ensuing year. Peter Akerley did not seek re-election as Director and Chairman of the Board to focus more fully on his role as President and CEO of Erdene Resource Development Corp.
Mr. Akerley served as the Chairman of the Board of Morien since its inception in 2012. As the co-founder of Morien, Peter has been instrumental over the last five years in advancing Morien from simply a holder of licences and options to a dividend-paying royalty company with increasing royalty cash flow and additional growth opportunities. The board of directors and management team would like to thank Peter for his leadership, his past contributions and commitment to Morien, and wish him success in his continued advancement of Erdene Resource Development.
Following the AGM, the Morien Board of Directors confirmed the appointments of its executive officers, namely: Chairman and Chief Executive Officer – John Budreski; President – Dawson Brisco; Chief Financial Officer – Michael O’Keefe; and Corporate Secretary – Suzan Frazer.
Appointment of Auditor
KPMG LLP was re-appointed as the Company’s auditor to hold office until the next annual meeting of shareholders or until its successor is duly appointed, at a remuneration to be fixed by the board of directors.
Approval of Stock Option Plan
The shareholders also approved the renewal of the Company’s 10% rolling incentive stock option plan in accordance with the rules and policies of the TSX Venture Exchange.
Morien is a Canadian based, dividend paying, mining development company that holds royalty interests in two, long life, world class, tidewater accessed projects. The Donkin Coal Mine commenced production in Q1 2017 and the Black Point Aggregate Project was permitted in Q2 2016 and is progressing toward a development decision. Morien’s management team exercises ruthless discipline in managing both the assets and liabilities of the Company. The Company’s management and its Board of Directors consider shareholder returns to be paramount over corporate size, number or scale of assets and industry recognition. Morien has 53,618,114 issued and outstanding common shares and a fully diluted position of 58,060,614. Further information is available at www.MorienRes.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.
For more information, please contact:
John P.A. Budreski, Chairman and CEO
Phone: (416) 930-0914
Dawson Brisco, P.Geo, President
Phone: (902) 403-3149