Mill City Ventures III Ltd.

06/13/2025 | Press release | Distributed by Public on 06/13/2025 15:29

Amendments to Bylaws (Form 8-K)

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On June 11, 2025, in connection with a review of the bylaws of Mill City Ventures III, Ltd., the Board of Directors of the company amended and restated the company's bylaws (the "Amended and Restated Bylaws"), effective immediately. The principal changes to the company's bylaws effected by the adoption of the Amended and Restated Bylaws are:

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change the quorum requirement at a shareholder meeting from a majority of shares issued, outstanding, and entitled to vote to one-third of the shares issued, outstanding, and entitled to vote; and

·

change the vote required to elect directors from a majority to a plurality; and

·

establish procedures for shareholders to make proposals at shareholder meetings, including the nomination of directors, as well as procedures for including such proposals in the company's proxy statement.

The foregoing description of the Amended and Restated Bylaws is not complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which is filed as Exhibit 3.1 to this report and incorporated herein by this reference.

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