PARAMOUNT GOLD NEVADA CORP. ANNOUNCES THE VOTING RESULTS OF ITS 2019 ANNUAL GENERAL MEETING
Winnemucca, NV – December 13, 2019 – Paramount Gold Nevada Corp. (“Paramount” or the “Company”) (NYSE American: PZG) announces the results of the votes from its annual stockholder meeting which was held on December 11, 2019. There were 27,616,745 shares outstanding and entitled to vote at the meeting as of the record date of October 15, 2019, of which, 15,102,929 shares or 54.69% voted.
The stockholders elected the following seven individuals to Paramount’s Board of Directors for a one year term expiring at the 2020 Annual General Meeting: Rudi Fronk, Glen Van Treek, Christopher Reynolds, John Carden, Eliseo Gonzalez-Urien, Pierre Pelletier and John Seaberg.
Detailed voting results of the election of directors were as follows:
|Name of Nominee||For||Withheld||Percentage
|Glen Van Treek||9,125,191||272,582||97.10||2.90|
There were 5,705,156 broker non-votes.
The stockholders ratified MNP LLP as our independent registered public accountants for the year ended June 30, 2020 with 14,599,257 (96.67%) voting ‘for’, 139,228 (0.92%) voting ‘against’ and 364,444 (2.41%) abstaining to vote.
The stockholders voted to approve the payment of interest payable on outstanding convertible notes in common stock with 8,716,627 (92.75%) voting ‘for’, 298,634 (3.18%) voting ‘against’ and 382,512 (4.07%) abstaining to vote.
About Paramount Gold Nevada Corp.
Paramount Gold Nevada is a U.S. based precious metals exploration and development company. Paramount’s strategy is to create shareholder value through exploring and developing its mineral properties and to realize this value for its shareholders in three ways: by selling its assets to established producers; entering into joint ventures with producers for construction and operation; or constructing and operating mines for its own account.
Paramount owns 100% of the Grassy Mountain Gold Project which consists of approximately 11,000 acres located on private and BLM land in Malheur County, Oregon. The Grassy Mountain Gold Project contains a gold-silver deposit (100% located on private land) for which results of a positive PFS have been released and key permitting milestones accomplished (see press release dated May 24, 2018).
Paramount owns a 100% interest in the Sleeper Gold Project located in Northern Nevada. The Sleeper Gold Project, which includes the former producing Sleeper mine, totals 2,322 unpatented mining claims (approximately 60 square miles or 15,500 hectares).
Paramount Gold Nevada Corp.
Glen Van Treek, President, CEO and Director
Christos Theodossiou, Director of Corporate Communications
Safe Harbor for Forward-Looking StatementsThis release and related documents may include “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) pursuant to applicable United States and Canadian securities laws. Paramount’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Words such as “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions are intended to identify forward-looking statements, although these words may not be present in all forward-looking statements. Forward-looking statements included in this news release include, without limitation, statements with respect to: statements with respect to future events or future performance; anticipated exploration, development, permitting and other activities on the Grassy Mountain project; the economics of the Grassy Mountain project, including the potential for improving project economics and finding more ore to extend mine life; and mineral reserve and mineral resource estimates. Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the conclusions made in the PFS; the quantity and grade of resources included in resource estimates; the accuracy and achievability of projections included in the PFS; Paramount’s ability to carry on exploration and development activities, including construction; the timely receipt of required approvals and permits; the price of silver, gold and other metals; prices for key mining supplies, including labor costs and consumables, remaining consistent with current expectations; work meeting expectations and being consistent with estimates and plant, equipment and processes operating as anticipated. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy Mountain project; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs and between estimated and actual production; and the other factors described in Paramount’s disclosures as filed with the SEC and the Ontario, British Columbia and Alberta Securities Commissions.
Except as required by applicable law, Paramount disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.