AMERICAN FORK, Utah, Oct. 18, 2024 /PRNewswire/ - Clifton Mining Company (OTCBB: CFTN) (the "Company") - "Annual Meeting Voting Results "
Clifton Mining Company held its annual meeting at 12:30 pm on October 11, 2024 at the Fox Hollow Golf Club in American Fork, Utah. The Company reports that shareholders approved the election of each of the two (2) director nominees. Each director nominee received affirmative votes from approximately 66% or more of the shares voted, excluding abstentions and broker non-votes, as follows (all percentages are rounded):
Director Nominee (Term) | For |
Stanley J. Cutler (Term expiring 2027) | 93 % |
Robert J. Holladay (Term expiring 2027) | 71 % |
Shareholders also ratified the appointment of MAC Accounting Group, LLP as the Company's independent auditors, with affirmative votes from approximately 91% of the shares voted. The Board of Directors had recommended a vote for this proposal.
Two reports were given at the meeting, one from Paul Schwitzer, Vice President of Marketing and Sales for American Biotech Labs, LLC a wholly owned American Silver, LLC entity, of which the Company is a Member. Mr. Schwitzer reported that product sales for 2024 are currently up more than 20% over 2023, with the current profit margin also increasing to around 15%, due to lower legal expenses and some better discounts due to increased quantity purchases. Amazon sales have also grown significantly over the past two years. A remarkable 70% of first-time users have re-ordered the products. The company has continued to focus on increasing sales in the medical supply markets.
Jerry North, consulting geologist, provided a summary of the extensive report he completed on the Clifton properties. He identified five major areas in which the underlying geology along with his sampling merit further exploration. Mr. North also indicated that there is information on a potential mineral deposit of Wollastonite. Wollastonite (CaSiO3) is widely used in ceramics, in paints (increasing durability), in plastics and rubber (increasing tensile and flexural strength), and in construction (as a substitute for asbestos), and recently, in cement and concrete.
The meeting adjourned at 2:30 pm.
Clifton trades on the OTC Markets under the symbol: "CFTN".
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.
SOURCE Clifton Mining Company
