Bacanora Lithium PLC Result of AGM (6972P)

TIDMBCN

RNS Number : 6972P

Bacanora Lithium PLC

11 June 2020

11 June 2020

Bacanora Lithium plc

("Bacanora" or the "Company")

Result of AGM

Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, announces that at its annual general meeting ("AGM") held earlier today, all resolutions were duly passed, as follows:

 
 Resolution                                Votes for      Votes     Approval   Withheld 
                                                         Against 
 Ordinary Resolutions                       Shares       Shares        %        Shares 
                                         ------------  ----------  ---------  --------- 
 1. Receive the Annual report 
  and financial statements for 
  the six months to 31 December 
  2019                                    129,644,121     503,791      99.6%      6,500 
                                         ------------  ----------  ---------  --------- 
 2. Re-appoint BDO LLP as auditors        130,144,530       3,382     100.0%      6,500 
                                         ------------  ----------  ---------  --------- 
 3. Authorise Directors to agree 
  and fix auditors' remuneration          130,147,530         382     100.0%      6,500 
                                         ------------  ----------  ---------  --------- 
 4. Re-elect Peter Secker as 
  Director                                126,968,592     315,989      99.8%      8,091 
                                         ------------  ----------  ---------  --------- 
 5. Re-elect Eileen Carr as 
  Director                                129,611,679     534,642      99.6%      8,091 
                                         ------------  ----------  ---------  --------- 
 6. Re-elect Graeme Purdy as 
  Director                                130,110,960      35,361     100.0%      8,091 
                                         ------------  ----------  ---------  --------- 
 7. Authorise the Directors 
  to allot Ordinary Shares                122,732,162   6,917,250      94.7%    505,000 
                                         ------------  ----------  ---------  --------- 
 Special Resolutions 
                                         ------------  ----------  ---------  --------- 
 8. Disapply the statutory pre-emption 
  rights on allotment of shares           119,481,640   7,804,826      93.9%      6,206 
                                         ------------  ----------  ---------  --------- 
 9. Authorise the Company to 
  make market purchases to buy-back 
  shares                                  121,750,007   5,536,459      95.7%      6,206 
                                         ------------  ----------  ---------  --------- 
 10. Authorise the Company to 
  amend its Articles                      122,209,953   5,033,266      96.0%     49,453 
                                         ------------  ----------  ---------  --------- 
 

As shareholders were not able to attend this year's AGM in person, as previously announced, the Company has produced a Q&A document to answer relevant questions raised by shareholders. The document is available to view on the Company's website: https://www.bacanoralithium.com/investor-relations/agm-documents/ . The Company will host a call for shareholders later in H2 2020.

** ENDS **

For further information please visit www.bacanoralithium.com or contact:

 
 Bacanora Lithium plc                  [e-mail] 
  Peter Secker, CEO 
  Janet Blas, CFO 
 Cairn Financial Advisers LLP, 
  Nomad 
  Sandy Jamieson / Liam Murray         [phone] 
 Citigroup Global Markets, 
  Joint Broker 
  Tom Reid / Patrick Evans / 
  Matthew Kenney                       [phone] 
 Canaccord Genuity, Joint Broker 
  James Asensio / Edward Montgomery    [phone] 
 Tavistock, Financial PR Adviser       [e-mail] 
  Jos Simson / Emily Moss /             [phone] 
  Oliver Lamb                           [phone] 
 

Notes to editors

Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company owns assets in Mexico and Germany. It is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit lithium carbonate operation at its flagship asset, the Sonora Lithium Project in Mexico. The Sonora Lithium Project has 8.8 million tonnes of lithium carbonate (Li(2) CO(3) ) equivalent resources, with an approximate 250 year resource life, as detailed in its December 2017 Feasibility Study.

Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the La Ventana concession. The La Ventana concession accounts for 88% of the mined ore feed in the Sonora Feasibility Study which covers the initial 19 years of the project mine life. SLL is owned 77.5% by Bacanora and 22.5% by Ganfeng Lithium Ltd. SLL also owns 70% of the El Sauz and Fleur concessions.

In addition, the Company has a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony, Germany.

Important notice

The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

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June 11, 2020 06:46 ET (10:46 GMT)