Champion Iron Announces FY202 4 Annual General Meeting Voting Results
PRESS RELEASE
CHAMPION IRON ANNOUNCES FY202 4 ANNUAL GENERAL MEETING VOTING
RESULTS
Montréal, August 28, 202 4 (Sydney, August 29, 202 4) - Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) (“Champion” or the
“Company”) announces that at the Annual General Meeting of the Company’s shareholders (the “Meeting”), held in person on Wednesday,
August 28, 2024, at 5:00 PM (Montréal time) / Thursday, August 29, 202 4, at 7:00 AM (Sydney time), all resolutions received the requisite
majorities, by a vote by poll as set out below . The number of votes cast against R esolution 1 however, constitutes a " second strike" under
Australian law. Resolution 2 (Conditional Spill Resolution) was not carried, as recommended by the board of directors.
Resolution
Votes
For
Votes
Against
Votes
Abstain/Exclude
1. Approval of the Remuneration
Report
257,995,644
(67.87%)
122,160,822
(32.13%) 50,329,309 (1)
2. Conditional Spill Resolution 1,244,214
(0.33%)
379,117,063
(99.67%) 50,124,498 (1)
3. Appointment of Director
– Michael O’Keeffe
399,998,619
(93.00%)
30,116,995
(7.00%) 370,161 (2)
4. Appointment of Director
– David Cataford
428,219,538
(99.56%)
1,896,076
(0.44%) 370,161 (2)
5. Appointment of Director
– Gary Lawler
377,272,547
(87.71%)
52,843,095
(12.29%) 369,773 (3)
6. Appointment of Director
– Michelle Cormier
395,608,990
(91.98%)
34,507,012
(8.02%) 369,773 (2)
7. Appointment of Director
–Louise Grondin
414,089,768
(96.27%)
16,026,234
(3.73%) 369,773 (2)
8. Appointment of Director
– Jessica McDonald
428,922,452
(99.72%)
1,193,550
(0.28%) 369,773 (2)
9. Appointment of Director
– Jyothish George
428,998,228
(99.74%)
1,117,774
(0.26%) 369,773 (2)
10. Appointment of Director
– Ronnie Beevor
417,197,358
(97.00%)
12,893,324
(3.00%) 395,093 (2)
11. Re -approval of Omnibus
Incentive Plan
306,345,835
(72.66%)
115,295,263
(27.34%) 8,844,677 (4)
12. Appointment of additional
auditor of the Company
430,202,032
(99.57%)
1,869,182
(0.43%) 364,846
Notes: (1) Represents votes held, directly or indirectly, by Champion's Key Management Personnel ("KMP") (as defined by the Corporations Act
2001 (Cth)) and their closely related parties, whether as a shareholder or as a proxy, all of which were excluded from voting (other than
if they acted as a proxy casting a directed vote) , plus 1,950,285 ordinary shares of the Company which were not voted. This does not
include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not expressly direct the
Chair how to vote on the resolution.
(2) Represents ordinary shares of the Company which abstained from voting plus 1,950,285 ordinary shares of the Company which were
not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not
expressly direct the Chair how to vote on the resolution.
(3) Represents ordinary shares of the Company which abstained from voting plus 1,950,645 ordinary shares of the Company which were
not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy, where the proxy did not
expressly direct the Chair how to vote on the resolution.
(4) Represents votes held , directly or indirectly , by persons who are eligible to participate in the Company’s employment incentive
scheme, being the Omnibus Incentive Plan or associates of those persons and Champion's KMPs and their closely related parties, all of
which were excluded from voting (other than if they acted as a proxy casting a directed vote) , plus 1,950,285 ordinary shares of the
Company which were not voted. This does not include votes exercised by the Chair of the Meeting on the basis of an undirected proxy,
where the proxy did not expressly direct the Chair how to vote on the resolution.
At the Meeting, the total number of ordinary shares of the Company represented in person or by proxy was 432,436,060 representing
approximately 83.47% of the issued and outstanding ordinary shares of the Company.
A live audio webcast was also available during the meeting and the webcast recording will be accessible shortly through Champion’s website at
www.championiron.com/investors/events-presentations.
For further details, visit the Company’s filings on SEDAR+ at www.sedarplus.ca.
About Champion Iron Limited
Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south
end of the Labrador Trough, approximately 13 km north of Fermont, Québec. Bloom Lake is an open -pit operation with two concentrators that
primarily source energy from renewable hydroelectric power. The two concentrators have a combined nameplate capacity of 15 Mtpa and produce
low contaminant high -grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore
concentrate. Benefiting from one of the highest purity resources globally, the Company is investing to upgrade half of the Bloom Lake mine
capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake's high-grade and low contaminant iron ore products have
attracted a premium to the Platts IODEX 62% Fe iron ore benchmark. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship
loading port in Sept -Îles, Québec, and has delivered its iron ore concentrate globally, including in China, Japan, the Middle East, Europe, South
Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough,
including the Kamistiatusset Project, located a few kilometres south-east of Bloom Lake, and the Cluster II portfolio of properties, located within
60 km south of Bloom Lake.
Cautionary Note Regarding Forward -Looking Statements
This press release includes certain information and statements that may constitute "forward- looking information" under applicable securities
laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words
such as "plans" , "expects" , "is expected" , "budget" , "scheduled" , "estimates" , "continues" , "forecasts" , "projects" , "predicts" , "intends" , "anticipates" ,
"aims" , "targets" or "believes" , or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may" ,
"could" , "would" , "should" , "might" or "will" be taken, occur or be achieved. Inherent in forward-looking statements are risks, uncertainties and
other factors beyond the Company's ability to predict or control.
All statements other than statements of historical facts included in this press release that address future events, developments or performance
that Champion expects to occur are forward-looking statements.
Although Champion believes the expectations expressed in such forward -looking statements are based on reasonable assumptions, such
forward-looking statements involve known and unknown risks, uncertainties and other factors, most of which are beyond the control of the
Company, which may cause the Company's actual results, performance or achievements to differ materially from those expressed or implied by
such forward -looking statements. Factors that could cause the actual results to differ materially from those expressed in forward -looking
statements include, without limitation , those factors discussed in the section entitled "Risk Factors" of the Company's 202 4 Annual Report,
Annual Information Form and Management Discussion and Analysis for the financial year ended March 31, 2024, which are available on SEDAR+
at www.sedarplus.ca, the ASX at www.asx.com.au and the Company's website at www.championiron.com. There can be no assurance that such
information will prove to be accurate as actual results and future events could differ materially from those anticipated in s uch forward-looking
information. Accordingly, readers should not place undue reliance on forward-looking information.
All of Champion's forward-looking information contained in this press release is given as of the date hereof or such other date or dates specified
in forward -looking statements and is based upon the opinions and estimates of Champion's management and infor mation available to
management as at the date hereof. Champion disclaims any intention or obligation to update or revise any of the forward -looking information,
whether as a result of new information, future events or otherwise, except as required by law. If the Company does update one or more forward-
looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.
Champion cautions that the foregoing list of risks and uncertain ties is not exhaustive. Readers should carefully consider the above factors as
well as the uncertainties they represent and the risks they entail.
For further information, please contact:
Michael Marcotte, CFA
Senior Vice-President, Corporate Development and Capital Markets
514-316-4858, Ext. 1128
All dollar figures stated herein are expressed in Canadian dollars.
For additional information on Champion Iron Limited, please visit our website at: www.championiron.com.
This press release has been authorized for release to the market by the CEO of Champion Iron Limited, David Cataford.