Pasinex shareholders elect seven directors at AGM

Nov 18, 2014

PASINEX RESOURCES ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING RESULTS

Pasinex Resources Ltd. has released results of the vote by shareholders at its annual general and special meeting held on Nov. 13, 2014, in Vancouver.

Results of annual general meeting

A total of 32,153,194 common shares were represented at the meeting, representing approximately 41 per cent of the outstanding shares.

Each of the director nominees proposed by management for election was elected by 100 per cent of the votes that were cast, to the board of directors. Dr. Larry Edward Seeley, Steven Williams, Sven Olsson, John Barry, Jonathan Challis, Victor Wells and Joachim Rainer were elected to the board of directors. Dr. Seeley and Mr. Rainer are appointed new directors of the company.

At the meeting, shareholders also approved the following resolutions:

Appointment of MNP LLP Chartered Accountants, as auditor for the ensuing year and authorizing the directors to fix its remuneration (100 per cent of votes cast);
Adoption of new articles of incorporation of the company, as set out in the management information circular as filed on SEDAR (100 per cent of votes cast);
Adoption of advance notice provisions to the new articles of the company (99.67 per cent of votes cast);
Approval of the 2014 stock option plan (99.49 per cent of votes cast).

Mr. Williams, chairman of the board, is pleased to welcome Dr. Seeley and Mr. Rainer to the board of Pasinex. Mr. Williams stated: “It is very exciting to have Dr. Larry Seeley and Mr. Joachim Rainer join our board. They bring considerable business acumen, having been involved in mining, metals and financial markets. Pasinex is going through a period of growth and development and having a strong board of seven diverse and knowledgeable directors will be key to our continued success.”

Dr. Seeley is chairman and chief executive officer of Seeley Group Ltd. He was chief executive officer of Recapture Metals Ltd. and principal shareholder developing the company with two plants in Ontario, one in the United States and one in Germany, producing gallium, indium and rhenium. Recapture was sold to Neo Materials Technologies Inc. and is now part of Molycorp Inc. From 1992 to 2004, he was president and chief executive officer and major shareholder of Lakefield Research Ltd., growing the company to over 1,000 employees with services in hydrometallurgy, analytical chemistry, mineralogy and environment as well as laboratories and pilot plant facilities in Lakefield, Ont.; Santiago, Chile; Belo Horizonte, Brazil; Johannesburg, South Africa; and Perth, Australia. Lakefield Research was sold to SGS in 2002. He was also with Falconbridge for 25 years as corporate vice-president, environment, director of Sudbury metallurgical operations, manager of corporate metallurgical research and development, manager, Sudbury smelter, and other roles in operations and technology.

Mr. Rainer was in hotel management for many years, followed by a period where he worked in an Austrian bank for a few years, where he supported people and companies to trade raw materials and shares and he received his CEFA (certified European financial analyst) degree. In 2002, Mr. Rainer founded the Rainer BeteiligungsgesmbH company and as managing director was responsible for sourcing projects, structuring companies and investments, and business development for new upcoming and innovative companies. Since 2005, he has been an important part of European and Turkish financial company network.

http://pasinex.com/press-releases/