Arras Minerals Announces Voting Results of Annual and Special Meeting of Shareholders

Rhea-AI Summary

Arras Minerals held its annual and special meeting of shareholders on April 29, 2025, with 30.8% (31,113,266) of outstanding shares represented. Shareholders approved setting the board to seven directors, with all nominees receiving overwhelming support of 99.8% votes in favor.

Key highlights include:

• All seven directors, including Brian Edgar, Timothy Barry, and Darren Klinck, were elected with strong shareholder backing
• Smythe LLP appointed as auditors with 99.9% approval
• Shareholders approved amendments to equity incentive plan (98.9% in favor)
• Company granted 39,498 deferred share units to independent directors at C$0.7754 per DSU

This marks the first DSU grant to independent directors, issued as compensation for Q2 2025 services in lieu of cash, based on the 5-day volume weighted average price on TSX Venture Exchange.

Positive

• Strong shareholder support with 99.8% approval for all director nominees
• High participation rate with 30.8% of shares represented at the meeting
• Near unanimous approval (99.9%) for auditor appointment
• 98.9% shareholder approval for equity incentive plan amendments
• Implementation of DSU program for independent directors, aligning management interests with shareholders

Negative

• Equity incentive plan amendment to 10% rolling plan could lead to potential shareholder dilution

VANCOUVER, BC / ACCESS Newswire / April 30, 2025 / Arras Minerals Corp. (TSXV:ARK) ("Arras" or "the Company") is pleased to announce the detailed voting results of the proposals considered at its annual and special meeting of shareholders held on April 29, 2025 (the "Meeting"). A total of 31,113,266 or 30.8% of the Company's issued and outstanding shares as of the record date were represented at the Meeting.

The Company's shareholders have voted to set the number of directors to seven (7) (30,936,522 or 99.4% voted "For", and 176,565 or 0.6% voted "Against").

The following nominees, as listed in Arras' management information circular, were elected as directors of the Company:

Director	Votes For	%	Withheld Votes	%
Brian Edgar	27,157,781	99.8%	45,886	0.2%
Timothy Barry	27,146,211	99.8%	57,636	0.2%
Darren Klinck	27,146,723	99.8%	57,124	0.2%
G. Wesley Carson	27,145,922	99.8%	57,925	0.2%
Daniel Kunz	27,153,661	99.8%	50,186	0.2%
Vera Kobalia	27,141,384	99.8%	62,463	0.2%
Christian Milau	27,145,673	99.8%	58,174	0.2%

The Company's shareholders have ratified and approved the appointment of Smythe LLP as the Company's auditors, for the fiscal year ending October 31, 2025 (31,091,715 or 99.9% voted "For", and 21,551 or 0.1% abstained from voting).

Arras is also pleased to announce that the Company's shareholders have re-approved of certain amendments to the Company's equity incentive plan, to, among other things, alter the plan to a 10% rolling plan (26,916,373 or 98.9% voted "For", and 287,294 or 1.1% voted "Against").

Full details of the proposals are fully described in the Company's management information circular filed on March 28, 2025 available on SEDAR at www.sedarplus.ca.

Issuance of DSUs

The Company has granted an aggregate of 39,498 deferred share units ("DSU") to certain independent directors at a price of C$0.7754 per DSU. The DSUs were granted in consideration for services rendered by the directors for the quarter ended April 30, 2025, in lieu of cash. The DSUs were granted in accordance with the Company's Equity Incentive Plan and were priced based on the volume weighted average price of the Company's common shares on the TSX Venture Exchange for the last five trading days immediately preceding the grant date. This is the initial grant of DSUs to the Company's independent directors.

On behalf of the Board of Directors

"Tim Barry"
Tim Barry, MAusIMM CP(Geo)
Chief Executive Officer and Director

INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com

Further information can be found on:

• the Company's website https://www.arrasminerals.com or

• follow us on LinkedIn: https://www.linkedin.com/company/arrasminerals or

• follow us on X (formerly Twitter): https://twitter.com/arrasminerals

About Arras Minerals Corp.

Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project and the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December 2023, the Company entered into a strategic alliance with Teck Resources Limited ("Teck") in which Teck may sole fund a US$5 million generative exploration program over a portion of the Arras license package in 2024-2025. The Company's shares are listed on the TSX-V under the trading symbol "ARK" and on the OTCQB under the trading symbol "ARRKF".

Cautionary note regarding forward-looking statements: This news release contains forward-looking statements regarding future events and Arras' future results that are subject to the safe harbors created under the U.S. Private Securities Litigation Reform Act of 1995, the Securities Act of 1933, as amended, and the Exchange Act, and applicable Canadian securities laws. Forward-looking statements include, among others, statements regarding plans and expectations of the exploration program Arras is in the process of undertaking, including the expansion of the Mineral Resource, and other aspects of the Mineral Resource estimates for the Beskauga project. These statements are based on current expectations, estimates, forecasts, and projections about Arras' exploration projects, the industry in which Arras operates and the beliefs and assumptions of Arras' management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "may," variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond management's control, including undertaking further exploration activities, the results of such exploration activities and that such results support continued exploration activities, unexpected variations in ore grade, types and metallurgy, volatility and level of commodity prices, the availability of sufficient future financing, and other matters discussed under the caption "Risk Factors" in the Management Discussion and Analysis filed on the Company's profile on SEDAR on February 27, 2025 Readers are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those expressed or implied in the forward-looking statements. Any forward-looking statement made by the Company in this release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.

SOURCE: Arras Minerals Corp.

View the original press release on ACCESS Newswire

FAQ

What were the voting results for Arras Minerals (ARRKF) directors at the April 2025 meeting?

All seven director nominees were overwhelmingly approved with approximately 99.8% votes in favor. Key directors including Brian Edgar, Timothy Barry, and Christian Milau each received over 27 million supporting votes, representing strong shareholder confidence.

How many shareholders participated in Arras Minerals' (ARRKF) April 2025 annual meeting?

A total of 31,113,266 shares were represented at the meeting, accounting for 30.8% of Arras Minerals' issued and outstanding shares as of the record date.

What changes were made to Arras Minerals' (ARRKF) equity incentive plan in April 2025?

Shareholders approved amendments to convert the equity incentive plan to a 10% rolling plan, with 98.9% (26,916,373) of votes in favor and only 1.1% (287,294) against.

How many deferred share units (DSUs) did Arras Minerals grant to directors in April 2025?

Arras Minerals granted 39,498 deferred share units to independent directors at C$0.7754 per DSU for Q1 2025 services, marking the company's first DSU grant to independent directors.

Who was appointed as Arras Minerals' (ARRKF) auditor for fiscal year 2025?

Shareholders approved Smythe LLP as the company's auditors for the fiscal year ending October 31, 2025, with 99.9% (31,091,715) votes in favor.