Hot Chili Limited Results of 2023 Annual General Meeting
Hot Chili Limited Results of 2023 Annual General
Meeting
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.
Appendix One (CNW Group/Hot Chili Limited)
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:
Penelope Beattie
Company Secretary – Hot Chili
Tel: +61 8 9315 9009
Email:
Harbor Access
Investor & Public Relations (Canada)
Email:
graham.farrell
@harbor-access.com
Email:
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
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%SEDAR: 00053528E
CO: Hot Chili Limited
CNW 08:16e 29-NOV-23