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IDM Announces Results from AGM; David Parker and Andrew Farncomb Join the Board of Directors
|By Marketwired .
|June 16, 2014 02:37 PM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/16/14 -- IDM Mining Ltd. (TSX:IDM) ("IDM" or the "Company") (previously Revolution Resources Corp.) is pleased to announce that David Parker and Andrew Farncomb were elected to the Board of Directors at the AGM held earlier today. Shareholders also re-elected Michael McPhie, Robert McLeod and Aaron Keay. Georg Hochwimmer did not stand for re-election; the Company is grateful for Georg's contributions and looks forward to continuing to work with him as a consultant.
"The addition of David Parker and Andrew Farncomb gives IDM two new strong, and enthusiastic Independent Directors," said Rob McLeod, President and CEO. "David is considered one of Canada's foremost leaders and authority in Social License and Sustainability in the mining industry, and Andrew brings strong corporate finance experience, based out of Toronto. We look forward to their contributions and oversight as we advance the Red Mountain Gold Project."
David Parker recently joined the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia Faculty of Applied Science on a two year secondment as an Adjunct Professor and Executive in Residence. In addition to teaching in the graduate program, Mr. Parker is developing new programs and initiatives related to governance of the extractives sector, integrated resource management and sustainable livelihoods. He is also working closely with academia, the mining industry, civil society, and government to establish the recently announced Canadian International Institute of Extractive Industries and Development.
Mr. Parker was previously Vice President Sustainability at Teck Resources Limited and is currently on secondment. Over the 22 years that he has been with Teck, Mr. Parker has led and collaborated in several initiatives to advance Teck's approach to sustainability and has been particularly focused on creating mutually respectful and collaborative relationships with First Nations people in Canada. He has conceived and implemented a number of visionary initiatives, such as the Sullivan Round Table, a conference co-chaired by Teck, the City of Kimberley and the World Bank to examine best practices in mine closure. Mr. Parker was the inspiration for the Zinc Saves Kids program with UNICEF, which is active in saving children's lives in Nepal, Peru and India. He also developed Teck's role in the Vancouver 2010 Olympic Winter Games and chaired the Olympic Sponsor's Sustainability Initiative.
Mr. Parker has chaired the Mining Association of British Columbia and the International Council on Mining and Metals Social and Economic Development Task Force. He currently serves as a director on the boards of UNICEF Canada, the Mining Association of British Columbia, and Science World. His education includes a Bachelor of Business Administration degree from Acadia University, a Bachelor of Law degree from Dalhousie University and a Masters of Law degree from the University of British Columbia where he has served as an adjunct professor in environmental law.
Mr. Farncomb graduated from the Queen's University School of Business with a Bachelor of Commerce (Honours) degree. He is a founding partner of Cairn Merchant Partners LP, an independent merchant bank offering a full range of advisory services to public and private companies. Mr. Farncomb has extensive experience advising public and private companies on mergers, acquisitions and financing transactions, in the natural resources, consumer products, industrial, technology and media sectors. Mr. Farncomb was formerly a Partner and Investment Banking professional at Paradigm Capital Inc., a Canadian investment dealer. Mr. Farncomb sits on the Board and is Chair of the Investment Committee at the Flavelle Foundation.
Detailed results of the election of the directors are set out below:
Director Nominee Votes For % For Votes Withheld % Withheld
Aaron Keay 40,471,451 72.17 15,606,200 27.83
Robert McLeod 50,510,451 90.07 5,567,200 9.93
Michael McPhie 55,926,151 99.73 151,500 0.27
David Parker 994,700(ii) 100(ii) 0.0(ii) 0.0(ii)
Andrew Farncomb 994,700(ii) 100(ii) 0.0(ii) 0.0(ii)
(ii)Based only on shares that are present at the meeting, Management Proxy Appointee totals are not included.
Shareholders also determined the number of directors of the Company at five and re-appointed Davidson & Company LLP as the auditor of the Company.
Additional details will be provided in a Report of Voting Results to be filed on SEDAR.
The Company wishes to clarify its June 13, 2014 news release as follows. Of the 5,268,000 shares issued on June 13, 2014 in connection with the Company's Red Mountain option agreement, 4,955,500 common shares were issued to Seabridge Gold Inc. in satisfaction of an option payment and 312,500 common shares were issued as part of advisory fee units. The 250,000 common shares issued by the Company in settlement of outstanding debts were issued as part of 250,000 Common Units (as defined in the June 13 news release).
About IDM Mining Ltd.
IDM Mining Ltd. is mineral exploration company (TSX:IDM) based in Vancouver, BC, Canada. The Company's current exploration activities are focused on precious metals in British Columbia and the Carolina Slate Belt, USA. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
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