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8-K - FORM 8-K - General Moly, Inc | gmo_8k.htm |
Exhibit
99.1
General Moly Announces Results of Annual Meeting
LAKEWOOD, COLORADO, July 20,
2020 – General Moly,
Inc. (the
“Company”) (NYSE
American and TSX: GMO), the only
western exchange listed, pure-play molybdenum mineral development
company, announced that it received stockholder approval for all
proposals submitted to stockholders at the resumption its Annual
Meeting of Stockholders held on July 17, 2020, in Lakewood,
Colorado, following the adjournment of the Annual Meeting of
Stockholders on June 19, 2020.
The adjournment of the June 19th meeting was to allow the
Company the opportunity to solicit additional proxies for Proposal
#3 to the stockholders concerning the recommended approval of an
amendment to the Company’s certificate of incorporation
providing the Board of Directors the flexibility to effect a
reverse stock split of the Company’s common stock.
This proxy proposal had been prompted
by the notices of deficiency by the NYSE American LLC in September
2019 and March 2020, as the General Moly stock had traded for a low
price for an extended period of time. Following the approval of
Proposal #3, the Company will work with the NYSE American to
complete any compliance requirements with the stock exchange's
continued listing standards.
Stockholders
re-elected Gary A. Loving and Gregory
P. Raih to the Board of Directors to each serve for a term of three
years. In addition, at the Annual Meeting of Stockholders,
stockholders approved the Company’s executive compensation
structure through an advisory vote; and ratified the selection of
Plante & Moran PLLC as the Company's independent registered
public accounting firm for 2020.
Voting results on all matters voted on at the Annual Meeting of
Stockholders will be filed on www.sedar.com.
About General Moly
General Moly is a U.S.-based, molybdenum mineral exploration
and development company listed on the NYSE American, previously
known as the NYSE MKT and former American Stock Exchange, and the
Toronto Stock Exchange under the symbol GMO. The Company’s
primary asset, an 80% interest in the Mt. Hope
Project located in central Nevada, is considered one of
the world’s largest and highest-grade molybdenum deposits.
Combined with the Company’s wholly-owned Liberty
Project, a molybdenum and copper property also located in
central Nevada, General Moly’s goal is to become the largest
primary molybdenum producer in the world.
Molybdenum is a metallic element used primarily as an alloy
agent in steel manufacturing. When added to steel, molybdenum
enhances steel strength, resistance to corrosion and extreme
temperature performance. In the chemical and petrochemical
industries, molybdenum is used in catalysts, especially for cleaner
burning fuels by removing sulfur from liquid fuels, and in
corrosion inhibitors, high performance lubricants and
polymers.
Contact:
Scott
Roswell
(303)
928-8591
info@generalmoly.com
Website: www.generalmoly.com