|By Marketwired .||
|June 25, 2014 12:35 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/25/14 -- Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces the results of its Annual General Meeting ("AGM") held today in Toronto, Ontario, at which 58.3% of the issued shares were represented. Shareholders voted strongly in favour of all resolutions brought before them.
Geoffrey Loudon, Nautilus Minerals' Chairman said "I am pleased that we reached a commercial resolution with the Independent Sate of Papua New Guinea for its equity participation in the Solwara 1 Project ("the Project") and I would like to thank all our shareholders for their continued support during this time. The critical factor in the development of the Project remains securing a suitable vessel. Over the past year we have been busy meeting with shipyards and shipbuilders around the world, determining the basic vessel design, and receiving class approval for the basic design. We intend to secure the arrangements for a vessel by the end of the year, following which we will have a clearer understanding of the ultimate timeline to first production."
The Company provides the following report on the voting results of the matters considered at the AGM, the particulars of which are set out in more detail in the Company's Information Circular, filed on SEDAR on May 20, 2014:
-- Election of Directors: Geoffrey Loudon, Russell Debney, Cynthia Thomas, Dr Mohammed Al Barwani, Usama Barwani and Mark Horn were re-elected as Directors of the Company for the ensuing year. -- Appointment and Remuneration of Auditor: PricewaterhouseCoopers LLP were re-appointed the auditor of the Company for the ensuing year and the Directors were authorised to fix their remuneration. -- Stock Option Plan Re-approval: The shareholders reapproved the Company's stock option plan. -- Share Loan Plan Re-approval: The shareholders reapproved the Company's share loan plan, which is an equity-based compensation scheme for the Company's Australian resident directors, officers and employees.
The proxy results of voting in respect of the directors were as follows:
Geoffrey Loudon Russell Debney Votes For: 99.89% Votes For: 99.89% Votes Withheld: 0.11% Votes Withheld: 0.11% Mohammed Al Barwani Cynthia Thomas Votes For: 99.88% Votes For: 99.90% Votes Withheld: 0.12% Votes Withheld: 0.10% Usama Barwani Mark Horn Votes For: 95.33% Votes For: 99.89% Votes Withheld: 4.67% Votes Withheld: 0.11%
For more information please refer to www.nautilusminerals.com.
Neither the TSX nor the OTCQX accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities law. Forward-looking statements and forward-looking information include, but are not limited to securing a vessel solution and the future production of minerals from the seafloor by the Company. We have made numerous assumptions about the forward-looking statements and information contained herein. Please refer to the Company's most recently filed Annual Information Form in respect of material assumptions and risks relevant to forward looking information related to the prospects of extracting minerals from the seafloor. Even though our management believes the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Forward-looking statements and information by their nature involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements or information. Should one or more of the risks, uncertainties or other factors listed in the Company's Annual Information Form materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information. Although we have attempted to identify factors that would cause actual results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events not to be as anticipated, estimated or intended. Also, many of the factors are beyond our control. Accordingly you should not place undue reliance on forward-looking statements or information. Except as required by law, we do not expect to update forward-looking statements and information as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
Nautilus also holds approximately 500,000 km2 of highly prospective exploration acreage in the western Pacific; in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX:NUS stock exchange and OTCQX:NUSMF. Its corporate office is in Brisbane, Au stralia. Its major shareholders include MB Holding Company LLC, an Oman based group with interests in mining, oil & gas, which holds a 28.14% interest, Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 20.89% holding and global mining group Anglo American, which holds a 5.99% interest (each on a non-diluted basis, excluding loan shares outstanding under the Company's share loan plan).
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