American Marconi Wireless News - Magna Terra Announces Results of Annual and Special Meeting

All the nominees listed in the management information circular for the meeting were elected as directors of the Company. Detailed results of the vote for the election of directors are set out below.

In addition: (i) McGovern Hurley LLP was reappointed as the Company's auditors for the ensuing year and the directors were authorized to fix their remuneration, and (ii) the Company's stock option plan has been ratified and approved.

Stock Option Grant

The Company also announces that it has granted a total of 1,850,000 stock options to certain officers, directors, and consultants to the Company in accordance with its stock option plan. Each option is exercisable at $0.075 per share for a period of 5 years from issuance and will vest over an 18-month period in three equal instalments.

About Magna Terra

Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador and our 100%-owned Rocky Brook Project and Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $9.5 million over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its Boleadora Project being advanced by Newmont Corp. under an option to purchase agreement valued at US$1 million in cash over a 6-year period and including a 2% NSR capped at US$20 million; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, as well as several additional district scale drill ready projects available for purchase or option/joint venture.

Neither 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
Email: [email protected]
Website: www.magnaterraminerals.com

SOURCE: Magna Terra Minerals Inc.

View the original press release on ACCESS Newswire

F.Dubois--AMWN