At the meeting, shareholders elected four incumbent directors, being Glenn J. Mullan, Andrew T. Pepper, Michael Wilson and C. Jens Zinke and appointed MNP LLP as the Company’s auditor for the ensuing year.
Shareholders also approved termination of the Company’s previously adopted Shareholder Rights Plan Agreement, in light of the new takeover bid legislation that recently came into effect, and gave annual approval of the Company’s 10% rolling stock option incentive plan in accordance with the requirements of the TSX Venture Exchange.
The Shareholders Rights Plan will terminate effective June 27, 2016.
Following the shareholder meeting, the Board reconstituted its Audit Committee and appointed a Compensation and Corporate Governance Committee. The Board also reappointed officers for the ensuing year as follows:
Chief Executive Officer - Glenn J. Mullan
Chief Financial Officer & Corporate Secretary - Daniel Poisson
Forward Looking Statements
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange 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 news release.