July 13, 2020

Erdene Releases the Results of Annual and Special Meeting of Shareholders

Erdene Resource Development Corporation, a Canada-based resource company held an Annual and Special Meeting of Shareholders on June 25, 2020 in Halifax, Nova Scotia. Now Erdene has announced the results as well.

During the official meeting, Company’s shareholders voted on particulars matters of business that were brought before them. Company announced the appointment of Board and Executive members upon the voting. Erdene management’s nominees to the board of directors to whom the shareholders voted include Peter C. Akerley        , Dr. Anna G. Biolik, John P. Byrne, T. Layton Croft, Kenneth W. MacDonald, Cameron McRae, David V. Mosher and Hedley Widdup.

Erdene’s board of directors appointed its officers for the coming year in the meeting. The appointed officers are Peter Akerley as President and Chief Executive Officer, T. Layton Croft as Chairman of the Board, Robert Jenkins as Chief Financial Officer, Suzan Frazer as Corporate Secretary.

KPMG LLP was re-appointed as company’s Auditor. He will hold office until the next annual general meeting or subject successor duly appointment, and upon the directors authorize to fix the Auditor’s remuneration. Shareholders approved the continuance of the shareholder rights plan. The Rights Plan is presented by board of directors to keep track on fair treatment of shareholders related to any takeover offer for the Company. According to the Rights Plan terms, the shareholders must affirm the Rights Plan every three years.

The shareholders also approved the amendment in the deferred stock unit (DSU) Plan about which company has posted the detailed summary and the amendment in the circular sent to shareholders which is also available on SEDAR www.sedar.com under Erdene’s profile.

Erdene Resource Development Corp is engaged in the acquisition, exploration, and development of precious and base metals in underexplored and highly prospective Mongolia.