TORONTO, ONTARIO--(Marketwired - July 29, 2016) - Aberdeen International Inc. ("Aberdeen" or the "Company") (TSX:AAB) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management proxy circular dated June 23, 2016 for the 2016 annual and general meeting of shareholders of Aberdeen (the "Meeting") were elected as directors of the Company. Shareholders at the annual meeting also approved the appointment of the Company's auditors. Aberdeen management would like to thank shareholders for their participation and continuing support, and note over 53% of all of the issued and outstanding shares of Aberdeen were represented at the Meeting.
Detailed results of the vote for the election of directors held at the Meeting on July 27, 2016 in Toronto, Ontario are set out below.
Election of Directors
The shareholders approved the election as directors of the persons listed below, based on the following vote.
% Votes For
% Votes Withheld
Effective as of August 1, 2016 Stan Bharti, P. Eng., will be appointed as Interim Chief Executive Officer of the Company. David Stein will continue to serve as a director and advise the Company with a strategic focus on fund management initiatives. Stein will serve Portfolio Manager for Ore Acquisition Partners LP, Aberdeen's private equity fund established with Landmark Partners in 2015. In addition, Stein will work with the Aberdeen team as a Managing Director to build a larger investment pool to execute mining investments, including the possibility of establishing new funds, and building greater co-investment relationships.
David Stein remarked, "I am pleased to take on this new role with Aberdeen, in which I believe I can continue to help the Company realize shareholder value through its mining investment activities. The company is in its best shape it has been in a long time, with two strong core investments in African Thunder Platinum and investments in Lithium X and the Sal de Los Angeles lithium project".
Aberdeen also wishes to thank Mr. George Faught for his important role monitoring Aberdeen's investment in African Thunder during the past 18 months. While he will continue to serve as a director of Aberdeen, Mr. Faught has resigned as an officer of Aberdeen's subsidiary, Aberdeen Barbados Inc.
ABOUT ABERDEEN INTERNATIONAL
Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector. African Thunder Platinum, Aberdeen's premiere investment, is a lower-cost platinum group metals project in South Africa's well-known Bushveld Complex. Aberdeen has further enhanced its investment holdings with its holding of 50% of Potasio y Litio de Argentina SA, which holds the Sal de los Angeles lithium project in Argentina.
For additional information, please visit our website at www.aberdeeninternational.ca and follow us on Facebook, Twitter, Linkedin and check out Aberdeen's YouTube Channel.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the election of directors. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.aberdeeninternational.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.