Business
Fortune Minerals Announces Results of Annual Meeting of Shareholders and Provides Update of Revenue Silver Mine
Issued Capital:  222,077,580 LONDON, ON , June 25, 2015 /CNW/ - Fortune Mineral...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\nIssued Capital:  222,077,580 \n\n\n\nLONDON, ON, June 25, 2015 /CNW/ -Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) reports that the nominees listed in the management information circular for the 2015 Annual General Meeting of shareholders held on June 23, 2015 (the \"Meeting\") were elected as directors of Fortune. Detailed results of the vote for the election of directors are set out below:\n\n\n\n\nNominee\n\n\nVotes For\n\n\n% For\n\n\nVotes Withheld\n\n\n% Withheld\n\n\n\n\n\n\n\n\n\nShou Wu (Grant) Chen\n\n\n107,295,760\n\n\n98.93 %\n\n\n1,163,502\n\n\n1.07 %\n\n\n\n\n\n\n\n\n\nCarl L. Clouter\n\n\n102,034,750\n\n\n94.08 %\n\n\n6,424,512\n\n\n5.92 %\n\n\n\n\n\n\n\n\n\nGeorge M. Doumet\n\n\n107,331,310\n\n\n98.96 %\n\n\n1,127,952\n\n\n1.04 %\n\n\n\n\n\n\n\n\n\nRobin E. Goad\n\n\n102,044,043\n\n\n94.09 %\n\n\n6,415,219\n\n\n5.91 %\n\n\n\n\n\n\n\n\n\nDavid A. Knight\n\n\n102,039,150\n\n\n94.08 %\n\n\n6,420,112\n\n\n5.92 %\n\n\n\n\n\n\n\n\n\nMahendra Naik\n\n\n102,039,020\n\n\n94.08 %\n\n\n6,420,242\n\n\n5.92 %\n\n\n\n\n\n\n\n\n\nEdward Yurkowski\n\n\n107,372,760\n\n\n99.00 %\n\n\n1,086,502\n\n\n1.00 %\n\n \n\nFortune gratefully acknowledges the significant contributions of James Excell who served as Company director and Compensation and Audit Committee member for more than a decade. Jim is relocating to Australia and did not stand for re-election at the Meeting. James Williams Jr. is also no longer a director of the Company and is thanked for his contributions over the past year.\n\nShareholders at the Meeting also approved the appointment of Fortune's auditors.\n\nFortune is also providing an update of operations at the Revenue Silver Mine (\"RSM\") in southwest Colorado, owned through wholly-owned Fortune Revenue Silver Mines, Inc. The RSM continues to be in the commissioning phase and ramping up to a planned 400 ton per day production rate. While significant progress has been made to improve operations at the RSM, low commodity prices and delays in achieving commercial production have put strains upon the Company's cash resources. Additional financing will be required in the near-term and Fortune is in discussions with its lenders and potential investors to secure additional working capital. There can be no assurance, however, that such discussion...