WINNIPEG, MB / ACCESS CABLE / July 20, 2022 / Snow Lake Resources Ltd., d/b/a Snow Lake Lithium (Nasdaq:LITM) (“Snow Lake” or the “Company”), responded today to the July 19, 2022 announcement by a group of shareholders of the Company (the “Interested Shareholders”) in order to give notice of calling a special meeting of shareholders for August 10, 2022. No meeting of shareholders will be held on that date and any material received by shareholders in relation to said alleged board should be ignored.
The special meeting notice of interested Shareholders is invalid under the Companies Act (Manitoba) as the Board has already called an annual general meeting and a special meeting of shareholders of the Company for December 15, 2022 and a registration date of October 27. , 2022 was set by the Board for that scheduled meeting.
As previously announced on June 29, 2022, the Company received a shareholder solicitation notice (“Requisition”) from interested Shareholders requesting that the Board of Directors call a meeting of shareholders for the purpose of (a) removing all directors of the company; (b) fix the number of directors for the following fiscal year at six; and (c) elect six directors appointed from the Interested Shareholders. The Board reviewed the Request with its professional advisors and carefully considered the appropriate time for a meeting of shareholders in light of the Request and concluded that a meeting in accordance with the normal cycle is in the best interest of the shareholders and the Company, as it It allows shareholders time to consider the issues associated with a contested Board election without disrupting important ongoing Company initiatives. In addition, the shareholders will have the benefit of having received the audited annual financial statements for the year ended June 30, 2022 to carry out their evaluation. Accordingly, the Board has determined to proceed with the scheduled meeting date of December 15, 2022.
Snow Lake has today filed an application with the court to have the notice of meeting of the Interested Shareholders declared null and void.
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242 Hargrave Street #1700
Winnipeg, MB R3C 0V1
snow lake resources ltd
PO Box 126 Simcoe Ontario N3Y4K8
FONT: Snow Lake Resources Ltd.