TORONTO, Aug. 22, 2019 /CNW/ - Fountain Asset Corp. (FA: TSXV) (the "Company") is pleased to announce that all matters presented for approval at the Company's annual general and special meeting (the "Meeting") of shareholders of the Company held on August 22, 2019 were approved.

All of the nominees listed in the Company's management information circular dated July 23, 2019 (the "Circular") were elected as directors of the Company until the next annual meeting of shareholders or until their successors are elected or appointed.

The shareholders appointed MNP LLP as the Company's auditors and authorized the directors to fix their remuneration.

The amended and restated stock option plan of the Company as described in the Circular was approved by the shareholders at the Meeting. The amendment provides the board with discretion to extend the period during which optionees can exercise their options after termination or resignation not due to cause or death to up to one year. 

Mr. Cesare Fazari did not stand for re-election at the Meeting. Mr. Andrew Parks, CEO of the Company, commented "I wanted to thank Cesare for his contribution to the Company and wish him best of luck on his new endeavors."

About Fountain Asset Corp.

Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, blockchain technology and biotechnology.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fountain Asset Corp.

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