CaNickel Announces Shareholder Approval of All Resolutions at AGSM; to Delist from the TSXV on June 26, 2025

Rhea-AI Summary

CaNickel Mining Limited (TSXV: CML) announced that shareholders approved all resolutions at their Annual General and Special Meeting on June 11, 2025. Most significantly, shareholders approved the voluntary delisting of the company's shares from the TSX Venture Exchange, scheduled for June 26, 2025. The delisting resolution received 99.588% approval from minority shareholders, with 15,043,782 shares voted by disinterested shareholders. Shareholders also elected three new directors: Wenfeng Liu, Shirley Anthony, and James Dai, with approval rates above 99.8%. Baker Tilly WM LLP was appointed as the company's auditor with 99.96% approval. The meeting saw representation of 77.86% of outstanding shares. Despite the delisting, CaNickel will remain a reporting issuer in Canada and maintain continuous disclosure obligations.

Positive

• High shareholder participation rate of 77.86% demonstrates strong engagement
• Strong shareholder support with over 99% approval for all resolutions
• Company will maintain reporting issuer status and continue disclosure obligations

Negative

• Delisting from TSXV will reduce stock liquidity and trading options for shareholders
• No alternative public market mentioned for trading after delisting
• Significant board changes with four directors not standing for renomination

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2025) - CaNickel Mining Limited (TSXV: CML) ("CaNickel" or the "Company") announces that, further to its press release on May 7, 2025, shareholders have approved all resolutions put forth at the Company's Annual General and Special Meeting ("AGSM"), which was held in Vancouver, BC, on June 11, 2025. This included the passing of an Ordinary Resolution, by a majority of the minority shareholders of the Company, authorizing the voluntary delisting of the Company's common shares from the TSX Venture Exchange ("TSXV"). The Company expects the delisting to occur at the close of business on Thursday, June 26, 2025, subject to final TSXV approval.

At the AGSM, a total of 29,212,122 common shares were represented by proxy, representing 77.86% of the Company's outstanding common shares. The final voting results of the meeting are set out below.

Election of Directors

Shareholders have elected Wenfeng Liu, Shirley Anthony and James Dai to serve as directors until the next annual meeting of shareholders, or until their respective successors are elected or appointed. Myles Gao, Lorne Waldman, Kevin Zhu and Weiliang Wang did not stand for renomination to the Board. The Company extends its sincere gratitude to all outgoing directors for their invaluable contributions and wishes them continued success in their current and future endeavors.

The table below sets forth the vote of the shareholders at the AGSM with respect to the election of directors:

Nominee	For	Abstained
Wenfeng Liu	99.842%	0.158%
Shirley Anthony	99.817%	0.183%
James Dai	99.809%	0.191%

 

Appointment of Auditor

Shareholders have approved the appointment of Baker Tilly WM LLP as auditor of the Company to hold office until the close of the next annual meeting of shareholders at such remuneration as may be fixed by the directors of the company. The table below sets forth the vote of the shareholders at the AGSM with respect to the appointment of the auditor:

Appointment of Auditor	For	Abstained
Baker Tilly WM LLP	99.960%	0.040%

 

Voluntary TSX Venture Exchange Delisting

An ordinary resolution has been approved by a majority of the minority shareholders of the Company authorizing the voluntary delisting of the Company's common shares from the TSXV.

Excluding directors, officers, promoters, and shareholders holding 10% or more of the Company's common shares and their Associates and Affiliates ("Non-Arm's Length Parties" as defined in TSXV Policy 1.1.), a total of 15,043,782 shares were voted by disinterested shareholders on the resolution and the table below sets forth the voting results:

Ordinary Resolution	For	Against
Approval of Voluntary Delisting from the TSXV	99.588%	0.412%

 

Under TSXV policies, delisting of a listed company when the company does not have an alternative public market requires majority of minority approval, meaning that directors, officers, promoters, and shareholders holding 10% or more of the Company's common shares and Non-Arm's Length Parties were not permitted to vote. Also excluded from the vote were King Place Enterprises Limited, which holds 11,517,653 shares, as well as its affiliate company, Hebei Wenfeng Industrial Group, which holds 2,587,500 shares. The total number of shares that were excluded from voting on the resolution was 14,105,153, representing 37.6% of the total number of shares outstanding.

With the passing of the resolution, along with Board approval of the delisting on April 22, 2025, the Company will proceed to finalize the process of voluntarily delisting from the TSXV. The delisting is expected to occur at the close of business on Thursday, June 26, 2025, subject to final TSXV approval.

The Company will remain a reporting issuer in Canada and will continue to comply with its continuous disclosure obligations under applicable securities laws.

ABOUT CANICKEL

CaNickel Mining Limited is a Canadian junior mining company that currently owns the Bucko Lake Mine, currently on care and maintenance, near Wabowden, Manitoba. From 2009 to 2012, nearly 450,000 tonnes of mineralized material were mined to produce 6.9 million pounds of nickel before the mine was put on care and maintenance due to low nickel prices.

Further information is available at www.canickel.com or contact:

Shirley Anthony
Chief Executive Officer
Phone: 778-999-2771

CaNickel Mining Limited
Suite 720 - 320 Granville St.
Vancouver, British Columbia Canada V6C 1S9

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255273

FAQ

When will CaNickel Mining (CMLGF) delist from the TSXV?

CaNickel Mining is expected to delist from the TSX Venture Exchange at the close of business on Thursday, June 26, 2025, subject to final TSXV approval.

What percentage of CaNickel shareholders approved the TSXV delisting?

99.588% of minority shareholders voted in favor of the voluntary delisting from the TSXV.

Who are the newly elected directors of CaNickel Mining?

Shareholders elected Wenfeng Liu, Shirley Anthony, and James Dai as directors, each receiving over 99.8% approval.

Will CaNickel Mining continue to report financial information after delisting?

Yes, CaNickel will remain a reporting issuer in Canada and continue to comply with continuous disclosure obligations under applicable securities laws.

How many shares were excluded from voting on CaNickel's delisting resolution?

14,105,153 shares (37.6% of total shares) were excluded from voting, including holdings from King Place Enterprises Limited and Hebei Wenfeng Industrial Group.