Results of Annual General Meeting of Shareholders
RESULTS OF ANNUAL GENERAL MEETING
OF SHAREHOLDERS
SUDBURY, ON
,
Oct. 1, 2024
/CNW/ - Frontier Lithium Inc. (TSXV: FL) (FRA: HL2) (OTCQX:
LITOF) ("Frontier" or the "Company") is pleased to announce the voting results from its annual
general meeting of shareholders of the Company (the "Meeting"), which was held on
Monday,
September 30, 2024
, at the Company's head office in
Sudbury, Ontario, Canada
. All meeting
matters put before the shareholders of the Company, and as more fully described in the Company's
Notice of Annual General Meeting of Shareholders and Management Information Circular, dated
August 23, 2024
, were approved by the requisite majority of votes cast at the Meeting.
A total of 82,619,193 common shares of the Company were voted at the Meeting, representing
approximately 36.30% of the total issued and outstanding common shares of the Company as of the
record date of the Meeting.
Following the formal portion of the Meeting, the Company provided a corporate presentation to
shareholders. The corporate presentation and an audio recording of this presentation will be
available on the Company's website and can be found
here
.
About Frontier Lithium
Frontier Lithium Inc. is a pre-production business with an objective to become a strategic and
integrated domestic supplier of spodumene concentrates for industrial users as well as battery-
grade lithium hydroxide and other chemicals to the growing electric vehicle and energy storage
markets in North America. The Company's PAK Lithium Project maintains the largest land position
and resource in a premium lithium mineral district located in
Ontario's
Great Lakes region.
About the PAK Lithium Project
The PAK Lithium Project contains
North America's
highest-grade lithium reserves and is the largest
in
Ontario
by size. The project encompasses close to 27,000 hectares and remains largely
unexplored; however, since 2013, the company has delineated two premium spodumene-bearing
lithium deposits (PAK and Spark), located 2.3 kilometres apart. Exploration is continuing on the
project through two other spodumene-bearing discoveries: the Bolt pegmatite (located between the
PAK and Spark deposits), as well as the Pennock pegmatite (25 kilometres northwest of PAK
deposit within the project claims). A 2023 Pre-Feasibility Study "National Instrument 43-101
Technical Report PFS PAK Lithium Project" by BBA E&C Inc., delivered a 24-year project life,
delivering a post-tax NPV(8%) of
US$1.74 billion
and IRR of 24.1% as per the press release
disseminated on
May 31, 2023
, and was filed on SEDAR+ (
www.sedarplus.ca
).
Forward-looking Statements
This news release includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical fact constitute forward-looking
statements. Forward looking statements contained in this news release may include, but are not
limited to, statements with respect to: estimated mineral resources, estimated capital costs to
construct mine facilities, estimated operating costs, the duration of payback periods, estimated
amounts of future production, estimated cash flows, net present value, the DFS and statements that
address future production, resource and reserve potential, exploration drilling, exploitation activities
and events or developments that the Company expects.
Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those expressed in the forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties. Risk factors that could cause
actual results to differ materially from those in forward looking statements include: market prices for
commodities, increases in capital or operating costs, construction risks, availability of infrastructure
including roads, regulatory and permitting risks, exploitation and exploration successes, continued
availability of capital and financing, financing costs, and general economic, market or business
conditions. Investors are cautioned that any such statements are not guarantees of future
performance and those actual results or developments may differ materially from those projected in
the forward-looking statements. For more information on the Company, please review the
Company's public filings available at
www.sedarplus.ca
.
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 release.
SOURCE
Frontier Lithium Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2024/01/c6174.html
%SEDAR: 00008434E
For further information:
Company Contact Information: Bora Ugurgel, Senior Manager, Investor
Relations, 2736 Belisle Drive Val Caron, Ontario, P3N 1B3 Canada, T. +001 705.897.7622, F. +001
705.897.7618
CO: Frontier Lithium Inc.
CNW 08:00e 01-OCT-24