Hot Chili Limited Reports Results of the 2022 Annual General
Hot Chili Limited Reports Results
of the 2022 Annual General
Meeting held 30 November 2022
AWST
NEWS RELEASE BY HOT CHILI LIMITED
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Perth, Australia | November 30, 2022 11:20 AM Eastern Standard Time
Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQX: HHLKF) ("Hot Chili" or the
"Company") is pleased to advise the results of its 2022 Annual General Meeting (the "AGM")
held in Perth, Australia on 30 November 2022 AWST.
A total of 31,821,621 ordinary shares, or 26% of Hot Chili's issued shares, were represented in
person or by proxy at the AGM.
Resolution 4 was withdrawn from the Notice of Meeting as further described in the ASX
announcement dated 29 November 2022 announcing the retirement of Mr George Randall
Nickson as director of the company.
All other resolutions listed as the items of business atthe AGM were tabled.
Apart from Resolution 5, all items of business put forth at the AGM were passed by the requisite
majority.
Employee Incentive Plan (Resolution 9)
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 2022 SBC Plan was conditionally
approved by the TSX Venture Exchange (the "TSXV") on 27 October 2022 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.
Appendix One
About Hot Chili
Hot Chili Limited is a mineral exploration company with assets in Chile. The Company's
flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-
gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location –
low altitude, coastal range of Chile, infrastructure rich, low capital intensity. The Costa Fuego
landholdings, contains an Indicated Resource of 725Mt grading 0.47% CuEq (copper
equivalent), containing 2.8 Mt Cu, 2.6 Moz Au, 10.4 Moz Ag, and 67 kt Mo and an Inferred
Resource of 202 Mt grading 0.36% CuEq containing 0.6Mt Cu, 0.4 Moz Au, 2.0 Moz Ag and 13
kt Mo, at a cut-off grade of +0.21% CuEq for open pit and +0.30% CuEq for underground.
(Refer to ASX Announcement "Hot Chili Delivers Next Level of Growth" (31st March 2022)
and Technical Report NI 43-101 titled "Resource Report for the Costa Fuego Copper Project
Located in Atacama, Chile", dated 13 May 2022). The Company is working to advance its Costa
Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test
several high-priority exploration targets.
Certain statements contained in this news release, including information as to the future financial
or operating performance of Hot Chili and its projects may include statements that are "forward‐
looking statements" which may include, amongst other things, statements regarding targets,
estimates and assumptions in respect of mineral reserves and mineral resources and anticipated
grades and recovery rates, production and prices, recovery costs and results, and capital
expenditures and are or may be based on assumptions and estimates related to future technical,
economic, market, political, social and other conditions.These forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while considered reasonable
by Hot Chili, are inherently subject to significant technical, business, economic, competitive,
political and social uncertainties and contingencies and involve known and unknown risks and
uncertainties that could cause actual events or results to differ materially from estimated or
anticipated events or results reflected in such forward‐looking statements.
Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any
forward‐looking statements, whether as a result of new information, future events, circumstances
or results or otherwise after the date of this news release or to reflect the occurrence of
unanticipated events, other than as may be required by law. The words "believe", "expect",
"anticipate", "indicate", "contemplate", "target", "plan", "intends", "continue", "budget",
"estimate", "may", "will", "schedule" and similar expressions identify forward‐looking
statements.
All forward‐looking statements made in this news release are qualified by the foregoing
cautionary statements. Investors are cautioned that forward‐looking statements are not a
guarantee of future performance and accordingly investors are cautioned not to put undue
reliance on forward‐looking statements due to the inherent uncertainty therein.
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.
Contact Details
Investor Relations
Graham Farrell
+1 416-842-9003
Investor Relations
Jonathan Paterson
+1 475-477-9401
Managing Director
Christian Easterday
Company Website
https://www.hotchili.net.au/investors/
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