SPOKANE, Wash., Oct. 28, 2014 (GLOBE NEWSWIRE) -- Mines Management, Inc. (NYSE-Market:MGN) (TSX:MGT) (the "Company") is pleased to announce the results of its Special Shareholders' Meeting (the "Meeting") held on October 28, 2014. Shareholders of the Company considered proposals (the "proposal") related to its financing which was completed on July 31, 2014.
With sufficient votes cast to constitute a quorum, the voting results are as follows:
Proposal 1: Approved 92.16 % of the shares cast were voted in favor of the proposal
Proposal 2: Approved 91.76 % of the shares cast were voted in favor of the proposal
Glenn Dobbs, the Company's Chairman and CEO, stated, "Approval of the proposals was an important measure to finalizing terms of the financing completed in July, which will greatly assist the Company in completing the permitting process for the Montanore project as it prepares for resumption of underground and pre-development stage activities. We are appreciative for all of the shareholders who voted and contributed to the successful shareholders' meeting."
About Mines Management
Mines Management, Inc. is engaged in the business of acquiring and exploring, and if exploration is successful, developing mineral properties containing precious and base metals. The Company's primary focus is on the advancement of the Montanore silver-copper project located in northwestern Montana. The Montanore is an advanced stage exploration project, which deposit contains mineralized material of approximately