GFM Announces Results of the General Meeting and Granting of Stock Options - Latest Global News

GFM Announces Results of the General Meeting and Granting of Stock Options

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VANCOUVER, British Columbia, May 15, 2024 (GLOBE NEWSWIRE) — GFM Resources Limited (the “Company”) (TSX-V: GFM.H) is pleased with the results of its annual general meeting held on May 14. 2024 (the “General Meeting”).

The following directors were elected at the general meeting: James Robertson, Pedro Rivero González, Esteban Rivero González and Roberto Rivero Larrea. Davidson & Company LLP, Chartered Professional Accountants, was confirmed as the Company’s auditor for the following year. The Company’s shareholders also approved the continuation of the rolling incentive stock option plan (the “Plan”), pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the Plan.

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Following the Annual General Meeting, the Board of Directors appointed the following officers: Mr. Pedro Rivero González as Chairman and Chief Executive Officer, Mr. Roberto Rivero Larrea as President and Mr. Salvador Miranda as Chief Financial Officer and Corporate Secretary. The Company’s Audit Committee is chaired by Mr. James Robertson. The other members of the committee are Pedro Rivero González and Esteban Rivero González.

Mr. José Antonio Rivero Larrea, the company’s long-time director and chairman, has now resigned from the board to assume a senior advisory role with the company.

In addition, the Board granted a total of 880,000 stock options to its directors, officers and an advisor. Each option entitles the holder thereof to purchase one common share of the Company at an exercise price of $0.10 per share for a period of five years from the grant date. All options vest as follows: one-third six months after the grant date, an additional third one year after the grant date and the final third two years after the grant date. These options are granted in accordance with the terms of the Plan and are subject to regulatory approval.

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About GFM Resources Limited

GFM Resources Limited is an emerging mineral exploration company focused on the acquisition and development of high potential exploration properties in Mexico. Its shares are listed on the NEX Board of the TSX Venture Exchange under the symbol GFM.H. The Company’s majority shareholder, Compañía Minera Autlán, SAB de CV, is a Mexican Stock Exchange-listed company active in precious metal mining, power generation in Mexico, and manganese ore and ferroalloy operations. Autlán is also active in electrolytic manganese dioxide production through its facility in Spain and supplies the European alkaline battery industry.

For further information please contact:

Salvador Miranda, Chief Financial Officer and Corporate Secretary
Telephone: (+1) 604 925 2839

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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