Apollo Announces 2021 AGM Voting Results

Rhea-AI Summary

Apollo Gold & Silver Corp. announced the results of its Annual General Meeting held on August 10, 2021, where Shareholders approved all proposed matters, including the election of directors. The board now consists of six members. Shareholders also approved the appointment of Davidson & Company LLP as the auditor and the continuation of a 10% rolling stock option plan. Additionally, as part of the acquisition of the Waterloo Project, Pan American Minerals has opted for a cash payment of $6,000,000 for the final installment.

Positive

• Shareholders approved all proposed matters at the AGM, showing strong support.
• The board of directors was successfully re-elected, ensuring continuity in leadership.
• Approval of Davidson & Company LLP as auditor reflects confidence in financial oversight.
• Pan American's agreement to the cash payment suggests a favorable transaction for Apollo.

Negative

• None.

VANCOUVER, British Columbia, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Apollo Gold & Silver Corp. (“Apollo” or the “Company") (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF) is pleased to announce the voting results from its Annual General Meeting of holders (“Shareholders”) of common shares (“Common Shares”) the Company held on August 10, 2021 (the “Meeting”).

All the matters put forward before Shareholders for consideration and approval as set out in the Company’s management information circular dated July 9, 2021 (the “Circular”) were approved by the requisite majority of votes cast at the Meeting. In particular, Shareholders approved the election of all director nominees. The board of directors of the Company is now comprised as follows:

• Andrew Bowering
• Simon Clarke
• Daryn Gordon
• Sean Bromley
• James Hynes
• Thomas Peregoodoff

Shareholders also approved the appointment of Davidson & Company LLP as auditor of the Company for the ensuing year and the continuation of the Company’s 10% rolling stock option plan.

The total number of Common Shares represented by Shareholders in person or by proxy at the Meeting was 11,537,554 Common Shares, representing 22.4% of the total issued and outstanding Common Shares at the record date for the Meeting.

Pan American Election

The Company also announces that further to its previously announced acquisition of the Waterloo Project (the “Transaction”) from Pan American Minerals Inc. (“Pan American”), Pan American has elected to receive the final US$6,000,000 of consideration to be paid in connection with the Transaction, in cash.

About Apollo Gold and Silver Corp.

Apollo Gold and Silver Corp. has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of three significant pure silver exploration and resource development projects: the historical Waterloo and Langtry Projects, in San Bernardino California and the Silver District Project in Arizona.

ON BEHALF OF THE BOARD OF DIRECTORS

Tom Peregoodoff
Chief Executive Officer

For further information, please contact:

Tom Peregoodoff
Chief Executive Officer
Telephone: +1 (604) 428-6128
tomp@apollogold.com

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

Cautionary Statement Regarding “Forward-Looking” Information

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company’s periodic filings with Canadian securities regulators. When used in this news release, words such as “will”, “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “appear”, “should,” and similar expressions, are forward-looking statements.

Although Apollo Gold and Silver Corp. has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.

FAQ

What were the voting results from Apollo Gold & Silver Corp.'s Annual General Meeting on August 10, 2021?

All proposals, including the election of directors, were approved by shareholders at the AGM.

Who were elected to the board of directors during the recent AGM of Apollo Gold & Silver Corp.?

The newly elected board includes Andrew Bowering, Simon Clarke, Daryn Gordon, Sean Bromley, James Hynes, and Thomas Peregoodoff.

What auditor was appointed at Apollo Gold & Silver Corp.'s AGM?

Davidson & Company LLP was appointed as the auditor for the upcoming year.

What is the final payment amount to Pan American Minerals related to the Waterloo Project acquisition?

The final payment of $6,000,000 will be made in cash as part of the transaction.

What is the significance of the 10% rolling stock option plan approved by Apollo Gold & Silver Corp.?

The continuation of the 10% rolling stock option plan allows for incentivizing management and employees through stock options.