Fitell Corporation Announces that it will hold its Extraordinary General Meeting of Shareholders on Apri 9, 2025

TAREN POINT, Australia, March 26, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (Nasdaq: FTEL) (“Fitell” or the “Company”), an online retailer of gym and fitness equipment in Australia, announced on March 24, 2025 that it will hold its Extraordinary General Meeting of Shareholders (the “EGM”) on April 9, 2025 at 10:00 a.m., local time, at Level 17, Tower 2, Lumia International Building, No.181 YanjiangXi Rd, Guangzhou, People’s Republic of China.

In connection with the contemplated EGM, on March 24, 2025, the Company distributed to shareholders of the Company a notice of EGM (the “EGM Notice”), in accordance with applicable provisions of the Cayman Islands laws. The ECM Notice includes the procedure for voting at the EGM, proposals and other materials, including a form of the Second Amended and Restated Memorandum and Articles of Association, and a form of proxy.

All registered shareholders of the Company at the close of business on March 12, 2025, the record date, are entitled to receive the EGM Notice, attend the EGM and vote on the following proposals and any adjourned or postponed meeting thereof:

1) The Share Capital Reorganisation Proposal; 

2) The Charter Amendment Proposal; 

3) The Share Repurchase and Issuance Proposal; 

4) The Share Consolidation Proposal; and

5) The Share Consolidation Memorandum Amendment Proposal.

The full text of the resolutions for these proposals is set out in the EGM Notice. On March 24, 2025, the Company firnished a 6-K report with the the Securities and Exchange Commission (the “Report”). A copy of the EGM Notice was attached as an exhibit to the Report. The Report can be accessed via a link: .

About Fitell Corporation

Fitell Corporation, through GD Wellness Pty Ltd (“GD”), its wholly owned subsidiary, is an online retailer of gym and fitness equipment both under its proprietary brands and other brand names in Australia. The company’s mission is to build an ecosystem with a whole fitness and wellness experience powered by technology to our customers. GD has served over 100,000 customers with large portions of sales from repeat customers over the years. The Company’s brand portfolio can be categorized into three proprietary brands under its Gym Direct brand: Muscle Motion, Rapid Motion, and FleetX, in over 2,000 stock-keeping units (SKUs). For additional information, please visit the Company’s website at .

Forward-Looking Statements

This press release and the Report contain “forward-looking statements”. Forward-looking statements reflect our current view about future events and include, but are not limited to, statements regarding the exercise of the warrants prior to their expiration and the intended use of proceeds from the offering. These forward-looking statements involve known and unknown risks and uncertainties, including market and other conditions, and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Chief Financial Officer

Jamarson Kong

Investor Relations