WR0 Western Resources Corp

Western Resources Corp. (TSX: WRX) (“Western” or “the Company”) is pleased to announce that its shareholders approved all items put before them at the Company’s Annual General Shareholder Meeting (“AGM”) held today, March 15th, 2024. A total of 96,648,405 common shares, representing 23.64% of the issued and outstanding common shares of the Company as at the record date, were present in person or by proxy at the meeting. The approved items are:

1. Fixed the number of directors of the Company at seven (7), and the election of Bill Xue, George Gao, Mark Fracchia, Justin Xing, Andrew Hancharyk, Scott Nagel and Raymond Lu to the Board. Voting details for the composition of the board and each board member are as below: 

Resolution	For	Withheld/Abstain/Against	Percentage
Number of Directors (7)	96,456,565	191,266	99.80%
Bill Xue	96,307,424	340,407	99.65%
George Gao	96,303,804	344,027	99.64%
Mark Fracchia	96,313,244	334,587	99.65%
Justin Xing	96,308,414	339,417	99.65%
Andrew Hancharyk	96,449,058	198,773	99.79%
Scott Nagel	96,450,108	197,723	99.80%
Raymond Lu	96,447,478	200,353	99.79%

1. The appointment of MNP LLP as auditors of the Company at a remuneration to be fixed by the directors, with 96,464,071 shares voted “For”, representing 99.81% of the outstanding common shares of the Company and 183,760 shares voted “Withheld”.
2. Approved the Company’s rolling Incentive Stock Option Plan, with 96,244,234 shares voted “For”, representing 99.58% of the outstanding common shares of the Company and 403,597 shares voted “Against”.

In the follow-up Board meeting after the AGM, Board Directors elected Bill Xue as Chairman of the Company and appointed Justin Xing as Chair of the Executive Committee, Mark Fracchia as Chair of the Nominating and Assessment Committee, Raymond Lu as Chair of the Audit Committee, Scott Nagel as Chair of the Compensation Committee and Andrew Hancharyk as Chair of the Corporate Disclosure Policy Committee. Shuai Wei and Xiao Xing were appointed as Board Observers, and Jack Xue as Corporate Secretary.

Western’s Chairman Bill Xue said, “I’m honored to continue working with this strong Board, with each of our directors having such extensive experience in his respective field. The Board shares a common goal of building what we expect will be Canada’s newest and most innovative, environmental friendly and capital-efficient potash mine which we also expect will bring significant changes to potash mining in Canada and the world. Implementing a new technology takes time, effort and patience. Our Project team is confident of achieving success with the current mining plan and continued optimization, and we plan to add more caverns in the coming months to achieve the design production target. While this will delay the Project for about a year, the Board looks forward to a successful outcome by 2025”.

ON BEHALF OF THE BOARD OF DIRECTORS

Bill XueChairman

Cautions Regarding Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.

For more information on the contents of this release please contact Jack Xue, Corporate Secretary, at 306-924-9378.