Black Iron Announces 2023 AGM Results and Provides Project Update

TORONTO, June 13, 2023 (GLOBE NEWSWIRE) -- Black Iron Inc. (“Black Iron” or the “Company”) (TSX: BKI) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated May 8, 2023 were elected as directors of the Company at the annual general meeting of shareholders of the Company (the “Meeting”) held today.

Detailed results of the vote for the election of directors are as follows:

	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Matthew Simpson	19,597,364	99.317	134,722	0.683
Bruce Humphrey	19,598,421	99.323	133,665	0.677
John Detmold	19,597,421	99.318	134,665	0.682
Pierre Pettigrew	19,597,421	99.318	134,665	0.682
David Porter	19,431,264	98.475	300,822	1.525
Zenon Potoczny	19,597,364	99.317	134,722	0.683

A total of 32,662,981 common shares were voted in connection at the Meeting, representing approximately 10.752% of the issued and outstanding common shares of the Company.

Project Development Update

The Company has now completed all of the extensive documentation required to file an application to Ukraine’s government to put a formal investment support agreement in place that will include transfer of the Ministry of Defence lands upon there being peace. This documentation is going through a final review process involving Company management and external legal counsel, with the aim of submitting to Ukraine’s Ministry of Economy around June month end. Several correspondences have also been made directly with Ukraine’s recently appointed Deputy Minister of Defence assigned to Black Iron’s file to progress land transfer negotiations.