Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging US-based copper developer and near-term producer, today announces the voting results from its annual and special meeting (the “Meeting”), held earlier today. A total of 90,396,024 common shares were voted at the meeting representing 60.81% of the issued and outstanding shares. Shareholders voted in favour of the business before the Meeting, being (i) the appointment of Ernst & Young LLP ("EY") as auditors of the Company, (ii) the approval of the shareholder rights plan, and (iii) the election of all director nominees, all as outlined in the Company’s management information circular dated April 28, 2025 (the “Circular”). The Directors were voted by ballot, as best practice for TSX-listed companies. The results of the ballot and annual meeting are detailed in the tables below.
<>Board of Directors
|
Director |
Votes For |
Votes Withheld |
||
|
Percentage |
Number |
Percentage |
Number |
|
|
Alan Edwards |
99.909% |
84,113,349 |
0.091% |
76,640 |
|
David Laing |
99.559% |
83,818,419 |
0.441% |
371,570 |
|
George Ogilvie |
99.800% |
84,021,236 |
0.200% |
168,753 |
|
Isabella Bertani |
99.766% |
83,992,886 |
0.234% |
197,103 |
|
Mark Palmer |
98.148% |
82,630,987 |
1.852% |
1,559,002 |
|
Sarah Strunk |
99.983% |
84,175,699 |
0.017% |
14,290 |
<>Appointment of Auditor
|
Resolution |
Votes For |
Votes Withheld |
||
|
Percentage |
Number |
Percentage |
Number |
|
|
Appointment of EY as Auditor |
99.150% |
89,627,919 |
0.850% |
768,105 |
<>Shareholder Rights Plan
|
Resolution |
Votes For |
Votes Against |
||
|
Percentage |
Number |
Percentage |
Number |
|
|
Shareholder Rights Plan |
99.767% |
83,994,186 |
0.233% |
195,803 |
|
Shareholder Rights Plan (Majority of the Minority) |
99.601% |
48,846,111 |
0.399% |
195,803 |
The formal report on voting results with respect to all matters voted upon at the Meeting will be filed on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. A copy of the Circular containing the particulars of the matters voted upon at the Meeting is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.
<>Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release.
About Arizona Sonoran Copper Company (www.arizonasonoran.com)
ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.
Cautionary Statements regarding Forward-Looking Statements and Other Matters
<>Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “could”, “developer”, “emerging”, “generational”, “near‑term”, “objective”, “proposes”, and “risk”, or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to the results of the 2024 PEA (mine life, timing and production); permitting, development and construction of the Project; contribution to the US copper supply chain; and the Company’s objectives, future plans or prospects (including becoming a mid-tier copper producer with lower operating costs, robust returns and long-term sustainable and responsible operations). Forward-looking statements involve known and unknown contingencies, risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such contingencies, risks, uncertainties and other factors include: market conditions, future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain regulatory approvals. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other contingencies, risks, uncertainties and factors which could materially affect such forward-looking information include the risks, uncertainties, contingencies and other factors described in the “Risk Factors” section of the Company’s Annual Information Form dated March 27, 2025, as well as in the technical report for the Cactus Project filed on August 27, 2024 (the “2024 PEA Technical Report”) and Management’s Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter already ended in 2025, all of which are available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
<>Preliminary Economic Assessments
The 2024 Preliminary Economic Assessment (or 2024 PEA) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project’s potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company’s press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company’s website at www.arizonasonoran.com and under its issuer profile at www.sedarplus.ca.
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