VANCOUVER, BC / ACCESSWIRE / June 26, 2020 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FRA:P8AA) ("Azarga Uranium" or the "Company") is pleased to announce that all resolutions put forward at the Annual General and Special Meeting (the "Meeting") of the Company's shareholders (the "Shareholders") held 26 June 2020, as further described in the Company's information circular dated 13 May 2020, were approved, including the following:
- Election of Directors: the nominees listed in the management proxy circular dated 13 May 2020 for the Meeting of the Company held on 26 June 2020: Glenn Catchpole, Matthew O'Kane, Sandra MacKay, Joseph Havlin, Todd Hilditch and Delos Cy Jamison were all elected as Directors until the next annual general meeting of the Shareholders. Detailed results of the vote for the election of Directors held at the Meeting are set out below:
- Appointment of BDO Canada LLP as auditors of the Company for the fiscal period ending December 31, 2020 and the Director's right to fix the remuneration to be paid to BDO Canada LLP.
- Approving the increase in the number of Azarga Uranium common shares (the "Shares") reserved for issuance pursuant to the employee share purchase plan by 3,000,000.
- Approving the increase in the number of Shares reserved for issuance pursuant to the Director services agreements by 1,500,000.
- Issuance of 1,750,000 Shares as a bonus payment of which 1,525,000 Shares are to three insiders of the Company (approved by the majority of disinterested shareholders).
For further information, please see the Company's Report of Voting Results, which will be filed on SEDAR at www.sedar.com.
In addition, the Company, subject to final approval from the Toronto Stock Exchange, will issue 200,000 Shares as a payment to settle outstanding service fees of $35,000 owed by the Company to an independent consultant.
About Azarga Uranium Corp.
Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and draft Class III and Class V Underground Injection Control ("UIC") permits from the Environmental Protection Agency (the "EPA") and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA.
For more information please visit www.azargauranium.com.
Follow us on Twitter at @AzargaUranium.
For further information, please contact:
Blake Steele, President and CEO
+1 303 790-7528
Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the additional uranium mineralization having the widespread potential to supplement the existing Gas Hills Project resource estimate, the additional uranium mineralization having the potential to be ISR amenable, the Company completing an updated resource estimate at the Gas Hills Project, the Gas Hills Project having the potential to transform into a significant satellite deposit for the Company's initial development priority, the Dewey Burdock Project, the utilization of planned infrastructure for the Dewey Burdock Project having the potential to significantly reduce the cost profile of the Gas Hills Project, the results of the drill hole logs being viewed as conservative and Azarga Uranium's continued efforts to obtain all major regulatory permit approvals necessary for the construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the additional uranium mineralization does not supplement the existing Gas Hills Project resource estimate, the risk that the additional uranium mineralization is not ISR amenable, the risk that the Company does not complete an updated resource estimate at the Gas Hills Project, the risk that the Gas Hills Project does not transform into a significant satellite deposit for the Company's initial development priority, the Dewey Burdock Project, the risk that planned infrastructure for the Dewey Burdock Project is not developed or does not significantly reduce the cost profile of the Gas Hills Project, the risk that the drill hole logs are not conservative, the risk that Azarga Uranium does not obtain all major regulatory permit approvals necessary for construction of the Dewey Burdock Project, including the final Class III and Class V UIC permits from the EPA, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
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