Black Iron Inc (CVE:BKI) today released an update about its annual and special shareholders meeting, held June 27.
Five directors of the company were elected, with shareholders voting in favour of all individual directors, including John Detmold, Bruce Humphrey, Pierre Pettigrew, David Porter and Matthew Simpson.
The iron ore exploration and development company is advancing its 100% owned Shymanivske project located in Kryvyi Rih, Ukraine, to production.
Shareholders also approved the appointment of the company's auditor, the rolling 10% stock option plan of the company and the amended and restated deferred share unit plan which provides non-executive directors with the ability to redeem annual director compensation through the issuance of common shares of the company.
Additionally, shareholders approved an amendment to bylaw No. 2 of the company, which amended the quorum requirement at any meeting of the company's shareholders from 25% to 5%.
A total of 61.06mln common shares were voted in connection at the meeting, representing approximately 38% of the issued and outstanding common shares of the company.
Shares of Black Iron were up 5.26%, closing at C$0.10 on Wednesday.