Lotus Announces AGM Results

Rhea-AI Summary

Lotus Ventures Inc. (CSE:J) (OTC:LTTSF) successfully held its Annual General Meeting on August 12, 2022, in Vancouver, BC, with over 88% of shareholders endorsing all recommendations. The participation rate was notable, with 45.4% of the eligible 89,969,799 shares voted. Key approvals included the appointment of DeVisser Gray LLP as auditors and ratification of the stock option plan. The company continues to operate as a licensed cannabis producer with distribution reaching nine provinces in Canada.

Positive

• Over 88% of votes supported all shareholder recommendations.
• Participation rate of 45.4% from eligible shares indicates strong shareholder engagement.
• Appointment of established auditors (DeVisser Gray LLP) enhances corporate governance.

Negative

• None.

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VANCOUVER, BC / ACCESSWIRE / August 15, 2022 / Lotus Ventures Inc. (CSE:J) (OTC PINK:LTTSF) ("Lotus" or the "Company") a licensed cannabis producer and wholesaler of premium cannabis in Canada hosted its Annual General Meeting (the "Meeting") in Vancouver, B.C on Friday, August 12, 2022. The Company is pleased to report that over 88% of votes cast by Lotus shareholders endorsed all the recommendations in the Information Circular dated July 11, 2022. The participation rate was high, with votes totaling 45.4% of the eligible 89,969,799 shares outstanding. The shareholders appointed DeVisser Gray LLP, Chartered Professional Accountants as auditors, approved the Company's stock option plan, and ratified all acts, deeds and things done by the Directors of the Company on its behalf since the last Meeting.

ON BEHALF OF THE BOARD:
Lotus Ventures Inc.
"Dale McClanaghan"
Dale McClanaghan, President and CEO

About Lotus Ventures Inc.

Lotus Ventures Inc. (CSE:J) (OTC:LTTSF) is a BC-based licensed producer and wholesaler of premium cannabis. Lotus owns and operates the consumer brand Lotus Cannabis Co.^™ and has had its flower sold by wholesale partners in nine Canadian provinces to date, not including Quebec. Lotus is an experienced cultivator in the North Okanagan and the Lotus flower is currently sold in BC and Ontario in partnership with Kolab Project.

To invest in the Company, Lotus Ventures Inc. is listed on the Canadian Securities Exchange under the symbol J and on the OTC Markets under the symbol LTTSF.

For More Information:

President & CEO
Dale McClanaghan
dalemcclanaghan@gmail.com
604-644-9844

Investor Relations
Daniel McRobert
investors@lotuscannabis.ca
604-842-4625

General Inquiries
info@lotuscannabis.ca

To learn more, visit lotuscannabis.ca or follow the Lotus brand on social media.

Instagram: @lotuscannabisco
Twitter: @lotuscannabisco
LinkedIn: @lotuscannabisco
Facebook: @lotuscanna

Forward-Looking Information:

This document includes certain statements that are not descriptions of historical facts but are forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, our future operating results, our expectations regarding the market for medical and recreational cannabis products, our expectations regarding the continued growth of the medical and recreational cannabis market, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Users are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause our actual results to differ materially from those anticipated, expressed or implied in the forward-looking statements. These risks and uncertainties have not been documented or mentioned in this document nor other communications made by the company. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: Lotus Ventures, Inc.

View source version on accesswire.com:
https://www.accesswire.com/712122/Lotus-Announces-AGM-Results

FAQ

What were the results of Lotus Ventures' Annual General Meeting on August 12, 2022?

Lotus Ventures reported over 88% shareholder support for all recommendations made during the AGM.

What is the participation rate of shareholders in Lotus Ventures' AGM?

The participation rate was 45.4%, with votes cast from 45,000,000 of the eligible 89,969,799 shares.

Who was appointed as auditors during the AGM of Lotus Ventures?

DeVisser Gray LLP was appointed as auditors at the AGM.

What stock symbols represent Lotus Ventures?

Lotus Ventures is listed on the Canadian Securities Exchange under symbol J and on OTC Markets as LTTSF.

What major decisions were ratified at Lotus Ventures' AGM?

The AGM ratified the stock option plan and all acts done by the Directors since the last meeting.