Altai Announces Shareholder Approval of Special Resolution

Key Takeaways:

• Altai Resources shareholders voted 96.4% in favor of the special resolution
• The approval allows a reduction in stated capital by up to C$4 million
• Section 34(1)(b) of the Business Corporations Act (Ontario) governs this process
• Shareholders will receive the funds through special cash distributions
• The approval was granted during a special meeting on September 3, 2025

Introduction

Altai Resources Inc. (TSXV: ATI) has announced decisive shareholder support for a special resolution that authorizes reducing the company’s stated capital by up to C$4 million. This agreement, passed with 96.4% in favor, grants Altai the ability to distribute funds to its common shareholders in one or more special cash payments.

Strong Shareholder Endorsement

The resolution’s approval occurred at a special meeting of the Company’s shareholders. Altai reported that nearly all votes cast endorsed the plan, reflecting a strong consensus on returning capital.

Details of the Resolution

Under Section 34(1)(b) of the Business Corporations Act (Ontario), Altai may reduce its common shares’ stated capital by a cumulative total of up to C$4 million. This figure represents the maximum amount the Company’s board of directors can allocate for distribution.

Return of Capital Mechanism

As authorized by the resolution, Altai’s management can distribute the reduced capital to common shareholders through special cash payments. According to the Company, these distributions may occur in one or more rounds, subject to the board’s decision and business considerations.

Conclusion

With this near-unanimous shareholder mandate, Altai Resources stands ready to move forward. The company’s board now possesses the flexibility to return capital, adding an immediate benefit for Altai’s investors and positioning the organization for continued strategic growth.