NOVAGOLD Announces Election of Directors and Voting Results from 2022 Virtual Annual General Meeting of Shareholders

  • A total of 277,994,591 or 83.43% of the Company's issued and outstanding shares were represented at the Meeting
  • All four proposals to shareholders were approved, including the election of all eleven director nominees; Kevin McArthur joins the Board
  • During the 2022 proxy season, NOVAGOLD placed outreach calls to shareholders holding approximately 86% of the Company's issued and outstanding common shares entitled to vote

NOVAGOLD RESOURCES INC. ("NOVAGOLD" or the "Company") (NYSE American, TSX: NG) is pleased to announce the detailed voting results on the items of business considered at its Annual General Meeting of Shareholders held on May 18, 2022 (the "Meeting"). All proposals were approved and all eleven director nominees were elected. A total of 277,994,591 or 83.43% of the Company's issued and outstanding shares were represented at the Meeting.

Kevin McArthur joins the Board of Directors of NOVAGOLD

The Company is also pleased to report the election of Kevin McArthur to its Board at the Meeting, effective May 18, 2022. Mr. McArthur is an industry leader with over 40 years of experience encompassing many facets of the mining business, including operations, corporate development and executive management. He currently serves as a non-executive director of Royal Gold, Inc. and First Quantum Minerals Ltd. Mr. McArthur served as CEO of major precious metals mining companies, including Goldcorp Inc., Glamis Gold Ltd. and Tahoe Resources Inc., which was subsequently acquired by Pan American Silver Corporation. His earlier career focused on mine operations and project development with major international mining companies, including, BP Minerals and Homestake Mining Company. Mr. McArthur obtained a degree in Mining Engineering from the University of Nevada in 1979.

Shareholder Engagement

During this year's proxy outreach, NOVAGOLD engaged with shareholders owning 40,000-plus shares; thus contacting holders of approximately 86% of the Company's issued and outstanding common shares entitled to vote at the Meeting. Year-over-year the input received from shareholders has helped shape and improve the Company's corporate governance practices.

Shareholder Voting Results

The Shareholders voted on the following matters at this year's Meeting:

Proposal 1 – Setting the Number of Directors

The vote was carried to set the number of Directors at eleven. The votes received by ballot were as follows:

Votes For 274,603,519 98.78%
Votes Against 2,759,148 0.99%
Abstentions 631,924 0.22%

Proposal 2 – Election of Directors

The nominees listed in NOVAGOLD's Management Information Circular were elected as Directors of the Company. Detailed results of the votes are set out below:

Proposal 2 Outcome of the
Vote
Votes by Ballot
Election of Directors Votes For Votes Withheld
Dr. Elaine Dorward-King Carried 257,097,146
(98.70%)
3,380,588
(1.29%)
Sharon Dowdall Carried 252,857,047
(97.07%)
7,620,687
(2.92%)
Dr. Diane Garrett Carried 258,169,285
(99.11%)
2,308,449
(0.88%)
Dr. Thomas Kaplan Carried 258,809,101
(99.35%)
1,668,633
(0.64%)
Gregory Lang Carried 259,660,658
(99.68%)
817,076
(0.31%)
Igor Levental Carried 256,598,064
(98.51%)
3,879,670
(1.48%)
Kalidas Madhavpeddi Carried 245,264,836
(94.15%)
15,212,898
(5.84%)
Kevin McArthur Carried 259,610,343
(99.66%)
867,391
(0.33%)
Clynton Nauman Carried 257,175,544
(98.73%)
3,302,190
(1.26%)
Ethan Schutt Carried 258,124,301
(99.09%)
2,353,433
(0.90%)
Anthony Walsh Carried 255,393,306
(98.04%)
5,084,428
(1.95%)

Proposal 3 – Appointment of Auditors

The vote was carried for the Appointment of the Auditors, PricewaterhouseCoopers LLP. The votes received by ballot were as follows:

Votes For 274,381,861 98.70%
Votes Withheld 3,612,730 1.29%

Proposal 4 – Advisory Approval of Executive Compensation ("Say-on-Pay")

The vote was carried on the Say-On-Pay Advisory Vote. The votes received by ballot were as follows:

Votes For 248,235,710 95.30%
Votes Against 10,953,539 4.20%
Abstentions 1,288,485 0.49%

Full details of all proposals are fully described in the Company's Management Information Circular dated March 25, 2022 available on the Company's website at www.novagold.com/investors/mic/ , on SEDAR at www.sedar.com , and on EDGAR at www.sec.gov , and the detailed results of voting on each proposal are included in the Report of Voting Results filed on SEDAR and on EDGAR.

Following the Meeting, the Board dissolved the Environment, Health, Safety, Sustainability and Technical Committee and two committees were created in its place: the Engineering and Technical Committee and the Sustainability Committee. The Board appointed Kevin McArthur to serve on the Corporate Communications Committee, and the Engineering and Technical Committee. The membership of each the standing Board committees is available on the Company's website at: https://www.novagold.com/company/directors/ .

The Annual General Meeting of Shareholders webcast and corporate presentation is available on NOVAGOLD's website under Presentations .

NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications

Allison Pettit
Manager, Communications

604-669-6227 or 1-866-669-6227


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

NG:CA,NG
The Conversation (0)

Developments in Panama

Franco-Nevada Corporation (" Franco- Nevada " or the " Company ") (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (" First Quantum "), has provided a further update in respect of recent comments made by the President of Panama Laurentino Cortizo regarding a transition process for the closure of the Cobre Panama mine.

For more detailed information, please refer to First Quantum's news release dated December 1, 2023 .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
john feneck, gold bars

John Feneck: Gold Setup is "Beautiful," New All-time High to Come

Gold is above US$2,000 per ounce again, and John Feneck of Feneck Consulting believes it's set to move higher.

"I think the gold setup here is beautiful ... I've been very guarded on the price of gold — I've never talked new highs ever, I've never said US$2,500 this or US$5,000 that," he told the Investing News Network. "(But) we are saying as a result of what happened October 7 that you are going to see a new all-time high in gold next year, which is new for us."

Keep reading...Show less

White Gold Corp. Announces Fully Committed C$5.1 Million Private Placement

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the " Company ") is pleased to announce a non-brokered private placement of: (i) flow-through common shares at a price of C$0.33 per share (each a "FT Share "); and (ii) common shares in the capital of the Company  at a price of C$0.30 per common share (each a " Common Share "), and for total gross proceeds of approximately C$5,116,000 (the " Offering ").

"We are very appreciative for the continued support for our exciting and impactful exploration activities to advance our significant gold deposit and other recent high-grade gold discoveries on our district scale land package in the prolific and under explored White Gold District." stated David D'Onofrio, Chief Executive Officer.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cobre Panama Additional Operations Update

Franco-Nevada Corporation (" Franco- Nevada ") (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (" First Quantum "), has issued an update reporting that due to the continued illegal blockades at the Punta Rincon port and roads to the site, the Cobre Panama mine has suspended commercial production and is applying a program of preservation and safe maintenance of the plant and facilities.

For more detailed information, please refer to First Quantum's news release dated November 28, 2023 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
2023 Q4 Gold Outlook Report

2023 Q4 Gold Outlook Report

Strike Gold: A Comprehensive Guide for Savvy Investors

The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact gold in the coming months.

✓ Trends ✓ Forecasts ✓ Top Stocks

Keep reading...Show less

Barrick Supports Consolidated Standard for Responsible Mining

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) The Copper Mark, Mining Association of Canada, ICMM and the World Gold Council today announced their intention to work together to consolidate their respective responsible mining standards into one single standard.

Barrick supports this initiative and has been an advocate of this consolidation for many years. "Having one standard for responsible mining will not only provide clear direction on what good should look like but would reduce the complexity that exists with the numerous standards currently in circulation," said Barrick president and chief executive Mark Bristow. "It is also crucial that this standard has multi-stakeholder oversight".

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×