An anonymous director reports

FOUNTAIN ASSET CORP. ANNOUNCES ADOPTION OF ADVANCE NOTICE BY-LAW

Fountain Asset Corp. has adopted an advance notice bylaw that requires advance notice be given to the company when director nominations are made by shareholders other than through a request for a meeting or through a shareholder proposal, in each case in accordance with the Canada Business Corporations Act.

The advance notice bylaw provides a clear process for shareholders to follow for director nominations, and will help ensure that all shareholders receive adequate notice and information about director nominees to exercise their voting rights in an informed manner. The advance notice bylaw is similar to the advance notice bylaws adopted by many other Canadian public companies.

Among other things, the advance notice bylaw fixes deadlines by which shareholders must notify the company of director nominations prior to any annual or special meeting of shareholders where directors are to be elected. It also sets forth the information about the proposed nominee that a shareholder must include in the notice for it to be valid.

In the case of an annual shareholder meeting, notice to the company must be given not fewer than 30 days prior to the date of the annual meeting nor more than 65 days before the date of such meeting. In the event that the annual meeting is to be held on a date that is fewer than 50 days after the first public announcement of the meeting's date, notice may be given not later than the close of business on the 10th day following such announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the company must be given not later than the close of business on the 15th day following the first public announcement of the date of the special meeting.

The advance notice bylaw also prescribes the proper written form for a shareholder's notice and provides that the company's board of directors may, in its sole discretion, waive any requirement under these provisions. The advance notice bylaw is effective immediately, and will be placed before shareholders for approval, confirmation and ratification at the next annual and special meeting of shareholders of the company. Pursuant to the provisions of the act, the advance notice bylaw will cease to be effective unless it is approved, ratified and confirmed by a resolution adopted by a majority of the votes cast by the shareholders of the company at the meeting.

About Fountain Asset Corp.

Fountain Asset 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 and gas, mining, real estate, manufacturing, retail, financial services, and biotechnology.

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