We continue to urge shareholders to vote pending the court’s decision on August 5th.
Toronto, August 1, 2022 AEST (ABN Newswire) – As previously announced on June 19, 2022, a group of shareholders (the “Affected Shareholders”) of Snow Lake Resources Ltd. (NASDAQ:LITM) (the “Company”), have convened a special meeting of holders (“Shareholders”) of ordinary shares (the “Shares”) of the Company to be held on August 10, 2022 (the “Special Meeting”).
So far, more than 44% of shareholders have already submitted proxies in favor of the affected shareholder nominees, confirming that shareholders want change. Every vote counts, no matter how small, help send a strong message to the current board that shareholders overwhelmingly disapprove of their performance. Affected shareholders urge shareholders to vote their shares, using the proxy form they received, to help save Snow Lake by replacing the current board of directors (other than Dale Schultz and Nachum Labkowski) at the special meeting by voting to elect the six highly qualified and experienced nominees nominated by the Affected Shareholders, Dale Schultz, Nachum Labkowski, Brian Imrie, Peretz Schapiro, Kathleen Skerrett and Shlomo Kievman (the “Affected Shareholder Nominees”).
The Company’s press release dated July 20, 2022 attempts to confuse shareholders by stating that the extraordinary meeting will not take place. It’s not true. No court has yet ruled on the validity of the special meeting. Affected shareholders agreed to the company’s suggested expedited deadline for the matter to be heard in a Manitoba court, which took place last Thursday. Affected shareholders urge all shareholders to vote, exercise their fundamental right and let management know that they will be held accountable.
The court has informed the shareholders concerned that it intends to issue its decision this Friday, August 5, 2022, just a few days before the following voting deadlines:
– If you are a beneficial owner, holding your shares through a broker, you must vote via www.proxyvote.com until 11:59 p.m. (Eastern Standard Time) on Sunday, August 7, 2022.
– If you are a registered shareholder, you must vote on www.eproxy.ca until 5 p.m. (Eastern Standard Time) on Monday, August 8, 2022.
Affected shareholders made an offer to the company to postpone the meeting until September and asked the company to confirm that it would abide by basic corporate governance and established behavior during a contested shareholder fight , which the company rejected, adding additional concerns that the company’s management and board of directors are unfit to lead the company and should be replaced immediately.
If a shareholder has not yet received their proxy form or is unsure how to vote, please contact the affected shareholders by email at [email protected] and we can walk you through the process to ensure your vote is counted. and that management is held accountable.
Sources: Affected Snow Lake shareholders
Certain statements contained herein are “forward-looking statements”. Often, but not always, a forward-looking statement can be identified by the use of words such as “plans”, “expects”, “anticipates”, “anticipates”, “estimates”, “intends”. , “anticipates” or “believes”, or variations of these words and expressions, or states that certain actions, events or results “might”, “could”, “would”, “could” or “would” be taken, produce or be achieved. The relevant shareholders cannot guarantee that these forward-looking statements will prove to be accurate. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document.
About Snow Lake Resources Ltd
Snow Lake Resources Ltd (NASDAQ:LITM) is committed to operating a fully renewable and sustainable lithium mine that can provide a fully traceable, carbon neutral and safe product for the electric vehicle and battery markets. The company not only aspires to set the standard for responsible lithium battery mining, but also intends to be the first lithium producer in the world to achieve Certified Company B status in the process.
The 100% owned Thompson Brothers Lithium Project covers a 21,703 acre site that is only 3% explored and contains indicated and inferred resources of 11.1 million metric tonnes at 1% Li2O.
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