TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- Black Iron Inc. (“Black Iron” or the “Company”) (BKI.TO) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated May 29, 2018 were elected as directors of the Company at the Annual and Special Meeting of shareholders of the Company (the “Meeting”) held on June 27, 2018.
Detailed results of the vote for the election of directors are as follows:
Votes For% Votes ForVotes Withheld% Votes Withheld
John Detmold 59,257,87099.9527,3330.05
Bruce Humphrey 59,257,87099.9527,3330.05
Pierre Pettigrew 59,247,87099.9437,3330.06
David Porter 59,257,87099.9527,3330.05
Matthew Simpson 59,257,87099.9527,3330.05
Shareholders at the Meeting also approved (i) the appointment of the Company's auditors, (ii) the rolling 10% stock option plan of the Company, (iii) the amended and restated deferred share unit plan which provides non-executive directors with the ability to redeem annual director compensation through the issuance of common shares of the Company, and (iv) an amendment to By-Law No. 2 of the Company amending the quorum requirement at any meeting of the Company’s shareholders from 25% to 5%. A total of 61,063,659 common shares were voted in connection at the Meeting, representing approximately 38% of the issued and outstanding common shares of the Company.
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske project located in Kryviy Rih, Ukraine. The Shymanivske project contains a NI 43-101 compliant mineral resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 32.0% total iron and 19.5% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron. Full mineral resource details can be found in the NI 43-101 compliant technical report entitled “Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit” effective November 21, 2017 under the Company’s profile on SEDAR at www.sedar.com. The Shymanivske project is surrounded by five other operating mines, including ArcelorMittal's iron ore complex. Please visit the Company's website at www.blackiron.com for more information.
The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Matt Simpson, P.Eng, CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.
For more information, please contact:
Chief Executive Officer
Black Iron Inc.
Tel: +1 (416) 309-2138