Latest News Release -
V.BRW

MONTREAL, June 21, 2024 (GLOBE NEWSWIRE) -- Brunswick Exploration Inc. (“BRW& or the “Corporation&) is pleased to announce the results of its annual general meeting (“AGM&) of shareholders held on June 19, 2024. Shareholders holding a total of 89,917,335 common shares of the Corporation attended the AGM in person or were represented by proxy, representing approximately 46.2 % of the 194,553,707 common shares issued and outstanding.

Pierre Colas, Jeffrey Hussey, André Le Bel Amy Satov, Mathieu Savard and Robert Wares were re-elected to the board of directors.

The shareholders also approved (i) the re-appointed Raymond Chabot Grant Thornton LLP as auditors for the ensuing financial year, and (ii) an amendment of the Corporation's articles to include provisions to the effect that the board of directors may, at its discretion, appoint one or more directors, who shall hold office for a term expiring no later than the close of the annual meeting of shareholders following their appointment, provided that the total number of directors so appointed may not exceed one third of the number of directors elected at the annual meeting of shareholders preceding their appointment (the “Articles Amendment&). Articles of amendment were filed to effect the Articles Amendment following the AGM.

Amendment to Stock Option Plan

On May 8, 2024, the board of directors adopted a resolution approving an amendment to the Corporation&s stock option plan in order to increase the maximum number of common shares that may be issued pursuant to the exercise of options granted thereunder from 13,000,000 to 19,400,000, which represents less that 10% of the number of common shares currently issued and outstanding (the “Stock Option Plan Amendment&).

The Articles Amendment and Stock Option Plan Amendment remain subject to the final approval of the TSX Venture Exchange.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The Corporation is rapidly advancing the most extensive grassroots lithium property portfolio in Canada and Greenland.

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information& within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation&s public documents filed on SEDAR+ at www.sedarplus.ca. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


Investor Relations/information Mr. Killian Charles, President and Chief Executive Officer (info@BRWexplo.com)

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