Candente Copper Corp. (TSX:DNT) has announced the reconstitution of its Board of Directors and retirement of George Elliott and Andres Milla from the Board.
The company’s Board has determined that in view of the recent appointments of Steven Latimer and Jeremy Meynert announced on 22 September 2022, and as a result of ongoing discussions with Fortescue Metals Group regarding the company’s Majority Voting Policy, it was mutually agreed the Board be reconstituted to consist of the following seven directors: Giulio T. Bonifacio; Joanne Freeze; Miguel Inchaustegui; Steven Latimer; Jeremy Meynert; Sean Waller and Christine Nicolau (Fortescue Nominee).
“I would like to sincerely thank George Elliott and Andres Milla for their long-standing service and contributions to the company,” Giulio Bonifacio, Executive Chair of Candente Copper, said.
“Under the guidance of the newly reconstituted Board, which includes Steven Latimer and Jeremy Meynert, the company will now move to further advance its Cañariaco project which already possesses a significant copper, gold and silver resource, with further drilling of high priority drill targets being planned for 2023.”
Majority Voting Policy
At the company’s annual general meeting (AGM) of shareholders held on 22 June 2022, while all of management’s nominee directors were re-elected, Joanne Freeze, Sean Waller, George Elliott and Andres Milla (the Withheld Vote Directors) received a greater number of withheld votes (the Withheld Votes) than votes in favour of their election.
In accordance with the company’s Majority Voting Policy, each of the Withheld Vote Directors offered their resignation to the company, to be effective upon the acceptance of such resignation by the Board, with the Withheld Vote Directors abstaining from this vote.
For each of the Withheld Vote Directors, between 96% and 98% of the Withheld Votes were cast by Fortescue. The company’s Executive Chair, Giulio Bonifacio, held several discussions with Fortescue regarding their Withheld Votes, and in consultation with Fortescue, initiated a Board reconstitution process that included the retention of Joanne Freeze and Sean Waller and the appointment of Steven Latimer and Jeremy Meynert as Directors of the Company, as announced in the Company’s press release dated 22 September 2022.
The Board met with each of the Withheld Vote Directors abstaining, and in accordance with the company’s Majority Voting Policy, approved the Board as reconstituted with resignations for George Elliott and Andres Milla being accepted.
About Candente Copper
Candente Copper is a multi-asset copper developer. The company’s flagship project is its 100-per-cent owned Cañariaco advanced staged copper project, within which are the Cañariaco Norte deposit, Cañariaco Sur deposit and Quebrada Verde prospect, all within a four km NE-SW trend in northern Peru’s prolific mining district.
For further information please visit: https://candentecopper.com/
