28 February 2023

Transition Metals Announces Results of Annual General Meeting

Posted in Press Release, 2023

Sudbury, February 27, 2023 – Transition Metals Corp (XTM – TSX.V) (“Transition”, “the Company”) is pleased to announce the results of voting at its Annual General Meeting of Shareholders ("AGM") held Friday, February 24, 2023 in Toronto, Canada.

Shareholders voted overwhelmingly in favour of all items put forward by the Board of Directors and Management. All four of the individuals nominated for the board of directors, namely Thomas Atkins, Jason Marks, Scott McLean and Brian Montgomery received the support of the Company's shareholders to continue in their roles for the forthcoming year. A total of 19,441,586 Transition Metals common shares were voted, representing 33.896% of total shares issued and outstanding as at the record date of the meeting.

Shareholders also voted in favour of:

  • Ratifying the appointment of UHY McGovern Hurley LLP as Auditors of the Company for the ensuing year and authorizing directors to fix the remuneration of the auditors; and
  • Ratifying of Omnibus Equity Incentive Compensation Plan.

Separately, the Company would like to acknowledge that long serving board members Jon Baird and William Pearson have retired from the board by not standing for re-election.

CEO Scott McLean commented, “Jon and Bill have both been valuable contributors to the Company and we have benefitted greatly from their knowledge and decades of experience. On behalf of the Board of Directors, management and shareholders, I wish Jon and Bill all the best in the future."

About Transition Metals Corp.

Transition Metals Corp. (XTM-TSX.V) is a Canadian-based, multi-commodity explorer that specializes in converting new exploration ideas into discoveries. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder’s equity dilution.

Cautionary Note on Forward-Looking Information

Except for statements of historical fact contained herein, the information in this news release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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 release.

Further information is available at www.transitionmetalscorp.com or by contacting:

Scott McLean
President and CEO    
Transition Metals Corp.
Tel: (705) 669-1777

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