PERTH,
AUSTRALIA, Nov. 29, 2023 /CNW/ - Hot Chili
Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the
"Company") is pleased to advise the results of its 2023 Annual
General Meeting (the "AGM") held in Perth, Australia on 29
November 2023 AWST.
A total of 33,284,747 ordinary shares, or 28% of Hot Chili's
issued shares, were represented in person or by proxy at
the AGM.
All resolutions listed as the items of business
at the AGM were tabled and all items of
business put forth at the AGM were passed by the requisite
majority.
Employee Incentive Plan
(Resolution 7)
Shareholders re-approved the Employee Incentive Plan of the
Company (the "SBC Plan"). The SBC Plan provides eligible directors,
officers and employees of the Company and certain of the Company's
contractors, with an incentive plan under which they may be offered
awards pursuant to which they can acquire or earn equity securities
of the Company. The purposes of the SBC plan are to: (i) establish
a method by which eligible participants can participate in the
future growth of the Company; (ii) provide an incentive and reward
for eligible participants for their contributions to the Company;
(iii) attract and retain a high standard of executive, managerial,
technical and other personnel for the benefit of the Company; and
(iv) align the interests of eligible participants more closely with
the interests of the Company's shareholders through a culture of
ownership and involvement.
Pursuant to the SBC Plan, the aggregate number of ordinary
shares of the Company (the "Shares") that may be issued in any 12-
month period cannot exceed 10% of the number of Shares issued and
outstanding from time to time. The 2023 SBC Plan was conditionally
approved by the TSX Venture Exchange (the "TSXV") on 19 October 2023 and remains subject to final
acceptance of the TSXV. In accordance with the rules and policies
of the TSXV, shareholder approval of the SBC Plan must be obtained
annually at the Company's annual general meeting. In addition, the
SBC Plan is also subject to review and acceptance by the TSXV on an
annual basis.
The results in respect of each of the resolutions put to
shareholders at the AGM are set out in Appendix One.
This announcement
is authorised by the Board of Directors
for release to ASX and TSXV.
Hot Chili's
Managing Director and Chief Executive
Officer Mr Christian Easterday is responsible
for this announcement and has provided sign-off for release to the
ASX and TSXV.
For more information please contact:
Christian
Easterday
Managing Director – Hot
Chili
|
Tel: +61 8 9315
9009
Email:
admin@hotchili.net.au
|
Penelope
Beattie
Company Secretary – Hot
Chili
|
Tel: +61 8 9315
9009
Email:
admin@hotchili.net.au
|
Harbor
Access
Investor & Public
Relations (Canada)
|
Email:
graham.farrell@harbor-access.com
Email:
jonathan.paterson@harbor-access.com
|
Qualifying Statements
Disclaimer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking Statements
This news release contains certain statements that are
"forward-looking information" within the meaning of Canadian
securities legislation and Australian securities legislation (each,
a "forward-looking statement"). Forward-looking statements reflect
the Company's current expectations, forecasts, and projections with
respect to future events, many of which are beyond the Company's
control, and are based on certain assumptions. No assurance can be
given that these expectations, forecasts, or projections will prove
to be correct, and such forward-looking statements included in this
news release should not be unduly relied upon. Forward-looking
information is by its nature prospective and requires the Company
to make certain assumptions and is subject to inherent risks and
uncertainties. All statements other than statements of historical
fact are forward-looking statements. The use of any of the words
"believe", "could", "estimate", "expect", "may", "plan",
"potential", "project", "should", 'toward", "up-scale", "will",
"would" and similar expressions are intended to identify forward-
looking statements.
The forward-looking statements within this news release are
based on information currently available and what management
believes are reasonable assumptions. Forward-looking statements
speak only as of the date of this news release. In addition, this
news release may contain forward-looking statements attributed to
third-party industry sources, the accuracy of which has not been
verified by the Company.
In this news release, forward-looking statements relate, among
other things, to: the Company's timing and ability to enter into a
definitive agreement with respect to the Option; the completion of
the conditions to exercise the Option; receipt of all regulatory
approvals in respect of the Option, including the approval of the
TSXV; prospects, projections and success of the Company and its
projects; the ability of the Company to expand mineral resources
beyond current mineral resource estimates; the results and impacts
of current and planned drilling to convert inferred mineral
resources to indicated, to extend mineral resources and to identify
new deposits; the Company's ability to convert mineral resources to
mineral reserves; opportunities for growth in mineral projects; the
timing and outcomes of this current and future planned economic
studies; the Company's ability to up-scale the Project to
150,000 tpa of copper production; the timing and outcomes of
regulatory processes required to obtain permits for the development
and operation of the Costa Fuego Project as contemplated in the PEA
and/or future planned economic studies; whether or not the Company
will make a development decision and the timing thereof; the
ability of the Company to consolidate additional landholdings
around its Project; estimates of cost; the ability of the Company
to complete the PFS on the timeline indicated or at all; and
estimates of planned exploration, including the
hydrogeological program at Cortadera and the Company's
planned 30,000m expansion drilling campaign across multiple
exploration targets.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors, which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. A number of factors could cause actual results to
differ materially from a conclusion, forecast or projection
contained in the forward-looking statements in this news release,
including, but not limited to, the following material factors: the
ability of the Company to complete the conditions to exercise the
Option; obtaining all regulatory approvals for the completion of
the Option; operational risks; risks related to the cost estimates
of exploration; sovereign risks associated with the Company's
operations in Chile; changes in
estimates of mineral resources of properties where the Company
holds interests; recruiting qualified personnel and retaining key
personnel; future financial needs and availability of adequate
financing; fluctuations in mineral prices; market volatility;
exchange rate fluctuations; ability to exploit successful
discoveries; the production at or performance of properties where
the Company holds interests; ability to retain title to mining
concessions; environmental risks; financial failure or default of
joint venture partners, contractors or service providers;
competition risks; economic and market conditions; and other risks
and uncertainties described elsewhere in this news release and
elsewhere in the Company's public disclosure record.
Although the forward-looking statements contained in this news
release are based upon assumptions which the Company believes to be
reasonable, the Company cannot assure investors that actual results
will be consistent with these forward- looking statements. With
respect to forward-looking statements contained in this news
release, the Company has made assumptions regarding: future
commodity prices and demand; availability of skilled labour; timing
and amount of capital expenditures; future currency exchange and
interest rates; the impact of increasing competition; general
conditions in economic and financial markets; availability of
drilling and related equipment; effects of regulation by
governmental agencies; future tax rates; future operating costs;
availability of future sources of funding; ability to obtain
financing; and assumptions underlying estimates related to adjusted
funds from operations. The Company has included the above summary
of assumptions and risks related to forward-looking information
provided in this news release to provide investors with a more
complete perspective on the Company's future operations, and such
information may not be appropriate for other purposes. The
Company's actual results, performance or achievement could differ
materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
benefits the Company will derive therefrom.
For additional information with respect to these and other
factors and assumptions underlying the forward-looking statements
made herein, please refer to the public disclosure record of the
Company, including the Company's most recent Annual Report, which
is available on SEDAR+ (www.sedarplus.ca) under the Company's
issuer profile. New factors emerge from time to time, and it is not
possible for management to predict all those factors or to assess
in advance the impact of each such factor on the Company's business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statement.
The forward-looking statements contained in this news release
are expressly qualified by the foregoing cautionary statements and
are made as of the date of this news release. Except as may be
required by applicable securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statement to reflect events or circumstances after
the date of this news release or to reflect the occurrence of
unanticipated events, whether as a result of new information,
future events or results, or otherwise. Investors should read this
entire news release and consult their own professional advisors to
ascertain and assess the income tax and legal risks and other
aspects of an investment in the Company.
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SOURCE Hot Chili Limited