Fortune Minerals Announces Results of Annual and Special Meeting of Shareholders

Fortune Minerals Announces Results of Annual and Special Meeting of Shareholders

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") ( www.fortuneminerals.com ) reports that the nominees listed in the management information circular for the 2023 Annual and Special Meeting of Shareholders held on June 28, 2023 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

Nominee

Votes For

% For

Votes Withheld

% Withheld

Robin E. Goad

164,474,223

96.20%

6,490,538

3.80%

Glen Koropchuk

164,080,958

95.97%

6,883,803

4.03%

John McVey

164,400,223

96.16%

6,564,538

3.84%

Mahendra Naik

163,799,553

95.81%

7,165,208

4.19%

David Ramsay

163,247,366

95.49%

7,717,395

4.51%

Edward Yurkowski

163,730,052

95.77%

7,234,709

4.23%

Shareholders also approved the appointment of Fortune's auditors and the re-approval of the rolling stock option plan. The presentation made at the Annual and Special Meeting is available on the Company's website.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO Cobalt-Gold-Bismuth-Copper Project in the Northwest Territories and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

Follow Fortune Minerals:
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@FortuneMineral on Twitter.

Fortune Minerals Limited  
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

News Provided by Business Wire via QuoteMedia

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Fortune Minerals (TSX:FT)

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The Company has also entered into a binding Bond Note Subscription Deed with its major shareholder Deutsche Balaton AG, under which Altech can drawdown up to EUR2.5M in cash in the form of interest-bearing Bearer Bonds.

This funding will allow Altech to progress with its projects without the dilutionary impact to shareholders of a capital raise via a share issue. The repayment of the Bearer Bonds is secured by Altech's Malaysian land and requires Altech shareholder approval, and a General Meeting is anticipated to be convened in late April 2025.

Key terms of the Subscription Agreement are as follows:

- Total Bearer Bond facility of up to EUR2.5M to be drawdown in EUR500K amounts with interest payable at 7.0% per annum.

- Altech shareholders approving the grant of security to Deutsche Balaton AG over its Malaysian land in accordance with any requirement of the ASX, or the ASX granting a waiver from any requirement of the listing rules to obtain shareholder approval.

- a Security and Security Trust Agreement has been entered into under which Altech's 100% owned subsidiary Altech Chemicals Sdn Bhd has pledged security over its Malaysian land as well as a guarantee of repayment of the Bearer Bonds.

- Repayment of Bearer Bonds by maturity date of 31 October 2026.

- Default clauses applicable standard for Subscription Deeds of this nature.

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About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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