December 5, 2024 — 1155 Rue Metcalfe, Montréal, Quebec, H3B 2V6; OTSAL Mining LTD. (the “Company” or “OTSAL”), announces that the Company will be relying on, and has satisfied all of the conditions to rely on, CSA Coordinated Blanket Order 51-931 for exemption from the requirements to send proxy-related materials (the “Meeting Materials”) for its upcoming annual and general special meeting (the “Meeting”) to be held on Tuesday December 17, 2024, at 1155 Rue Metcalfe, Montréal, Quebec, H3B 2V6 at 10:00 a.m. (PST) due to the current delays and suspension of mail service in Canada due to the nationwide strike of the Canadian Union of Postal Workers that commenced on November 15, 2024. The Meeting Materials have been posted under the Company’s profile on SEDAR+ and on the Company’s website at www.otsalmining.com.
The Meeting will address the following: approval of audited financial statements and auditor’s report, determination of the number of directors, election of directors for the coming year, appointment of the auditor and setting their remuneration, and approval of any required security-based compensation plan.
Shareholders of the Company are encouraged to access the meeting materials directly through the above- mentioned websites. In the event that the postal strike concludes prior to the meeting, the Company will send the materials by regular mail; however, there is no assurance that the meeting materials will be received by the shareholders prior to the meeting. Shareholders are urged to vote before the proxy deadline of 10:00am on Friday, December 13, 2024.
How Beneficial Shareholders Can Vote
Beneficial shareholders are shareholders who hold their investment through a brokerage house, depository company or other intermediary. There are two types of beneficial owners: (i) those who object to their identity being made known to the issuers of securities which they own (“Objecting Beneficial Owners” or “OBOs”), and (ii) those who do not object to their identity being made known to the issuers of securities which they own (“Non-Objecting Beneficial Owners” or “NOBOs”).
The Company is sending Meeting Materials directly to NOBOs. NOBOs may submit their votes by completing the Voting Instruction Form (“VIF”) available on the Company’s website.
OBOs should contact their brokerage house or depository company or other intermediary and ask to obtain their voting control number and instructions.
Financial Statements and MD&A
Copies of the Company’s annual financial statements and related management discussion and analysis for the year ended December 31, 2023, as well as interim financial statements and related management discussion and analysis for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024 (collectively, the “Financial Reports”), have been filed and are available on SEDAR+ and on the Company’s website at www.otsalmining.com.
ABOUT OTSAL Mining LTD.
The principal business activities of OTSAL was the acquisition, exploration, development, and operation of gold mineral properties. Since Venezuela expropriated our assets in Venezuela in 2012 the Company has been focused on the recovery of our Arbitration Award.
ON BEHALF OF THE BOARD
“Veit Goldberg”
Veit Goldberg, President & CEO
2039961030
5149878991
For further information, please contact:
OTSAL Mining LTD.
Juha Päivärinta
E: info@otsalmining.com
2039961030
5149878991
Forward-looking statements:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
