TORONTO, June 15,
2022 /CNW/ -
TeraGo Inc. ("TeraGo" or the "Company") (TSX: TGO)
(www.terago.ca), announced that the nominees listed in
the management information circular for the Company's 2022 Annual
and Special Meeting of Shareholders (the "Meeting") were
each either elected or re-elected as directors of TeraGo. Following
the Meeting, the Company's board composition remained at seven
total directors, six of whom are independent.
TeraGo welcomed its newly elected member, Mr. Pietro Cordova, to the board of directors. Mr.
Cordova brings over two decades of executive leadership experience
within financial and managerial roles. He currently serves as
Operating Partner at Ficom Leisure, a boutique advisory firm
providing corporate, financial and business advisory services
focusing on strategic planning, organic and M&A driven growth,
management/generational changes, capital structure optimization and
restructuring. Previously, Mr. Cordova was the former CEO and board
member of both Wind Mobile in Canada, now called Freedom Mobile, and Veon
Wholesale Services, a telco company with approximately EUR 1 billion revenues, providing centralized
provisioning, commercial, technology and value-added services for
the 14 OpCos of the Veon Group worldwide. He was also the Deputy
CFO for Wind in Italy, a leading,
EUR 6 billion revenue telco operator
with over 35 million wireline and wireless customers.
Mr. Cordova holds a University Degree in Business Administration
and Finance from "La Sapienza" University, Rome.
"On behalf of the entire TeraGo leadership team, I'd like to
welcome Pietro to our board," said TeraGo CEO Matthew Gerber. "Pietro has an impressive and
relevant background having worked at several wireless
communications companies, and his addition brings to our
organization a wealth of financial and managerial experience that
is pertinent and directly applicable to where we are today.
Pietro's proven ability in growing and streamlining companies
operating in highly regulated and competitive environments will be
a significant value add to our board of directors."
The Company also announced that Mr. Michael Martin has stepped down from the board
of directors after serving a nine-year term.
Mr. Gerber added: "I also want to thank Michael for his near
decade long service as a board member. His dedication, prudent
guidance, technical expertise and commitment has contributed to the
success we've achieved here so far at TeraGo. We wish him the best
of luck in his future endeavors."
Detailed results of the ballot voting for the election of
directors held today on June 15,
2022, as well as the other matters voted on at the virtual
Meeting are as follows:
Brief Description of Matter Voted
Upon
|
Outcome
of Vote
|
For
|
Against
|
1) In respect of fixing
of the number of directors of the Company at
seven (7);
|
Approved
|
7,601,185
(99.87 %)
|
9,688
(0.13%)
|
2) In respect of the
election of directors to hold office until the
close of the next annual meeting of Shareholders or
until their
successors are elected or appointed:
|
|
For
|
Withheld
|
Kenneth
Campbell
|
Approved
|
7,595,531
(99.80 %)
|
15,342
(0.20%)
|
Matthew
Gerber
|
Approved
|
7,594,485
(99.78%)
|
16,388
(0.22%)
|
Gary
Sherlock
|
Approved
|
7,495,240
(98.48 %)
|
115,633
(1.52%)
|
Laurel
Buckner
|
Approved
|
7,591,731
(99.75 %)
|
19,142
(0.25%)
|
Richard
Brekka
|
Approved
|
4,793,848
(62.99 %)
|
2,817,025
(37.01 %)
|
Martin
Pinnes
|
Approved
|
5,017,939
(65.93 %)
|
2,592,934
(34.07 %)
|
Pietro
Cordova
|
Approved
|
7,595,531
(99.80 %)
|
15,342
(0.20%)
|
3) In respect of the
re-appointment of KPMG LLP, Chartered
Accountants as auditors of the Company to hold office
until
the next annual meeting of Shareholders and
authorizing
the directors to fix their remuneration.
|
Approved
|
7,637,397
(99.87 %)
|
10,300
(0.13%)
|
|
|
For
|
Against
|
4) In respect of the
resolution for Approval of Amendment to
the Articles of Incorporation and Share
Structure.
|
Approved
|
7,595,731
(99.80 %)
|
15,142
(0.20 %)
|
A report of voting results for each resolution presented at the
Meeting prepared in accordance with National Instrument 51-102 –
Continuous Disclosure Obligations has been filed on
www.sedar.com.
About TeraGo
TeraGo provides wireless connectivity and
private 5G wireless networking services to businesses operating
across Canada. The Company holds
2120 MHz of exclusive spectrum licenses in the 24 GHz and 38 GHz
spectrum bands, which it utilizes to provide secure and
reliable enterprise grade networking and connectivity services.
TeraGo serves over 1,800 Canadian and Global businesses operating
in major markets across Canada,
including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless
services since 1999. For more information about TeraGo, please
visit www.terago.ca.
Forward-Looking Statements
This news release includes
certain forward-looking statements. By their nature,
forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond TeraGo's control.
Forward-looking statements may include but are not limited to
statements regarding the further developing our 5G Fixed Wireless
Access program, consistently executing across all fronts of the
business, success in providing Canadian enterprises with managed
services and the 5G fixed wireless trials being conducted by
the Company. All such statements constitute "forward-looking
information" as defined under, applicable Canadian securities laws.
Any statements contained herein that are not statements of
historical facts constitute forward-looking information. The
forward-looking statements reflect the Company's views with respect
to future events and is subject to risks, uncertainties and
assumptions, including those risks set forth in the "Risk Factors"
sections in the annual MD&A of the Company for the quarter
ended March 31, 2022 available on
www.sedar.com under the Company's corporate profile. Factors that
could cause actual results or events to differ materially include
the inability to consistently achieve sales growth across all lines
of TeraGo's business including managed services, inability to
complete successful 5G technical trials, the impacts and
restrictions caused by the COVID-19 pandemic are prolonged which
may further delay customer trials and/or cause a negative impact on
future financial results of the Company, TeraGo's Pandemic Response
Plan may not mitigate all impacts of COVID-19, the results of the
5G trials not being satisfactory to TeraGo or any of its technology
partners, regulatory requirements may delay or inhibit the trial,
the economic viability of any potential services that may result
from the trial, the ability for TeraGo to further finance and
support any new market opportunities that may present itself, and
industry competitors who may have superior technology or are
quicker to take advantage of 5G technology. Accordingly, readers
should not place undue reliance on forward-looking statements as
several factors could cause actual future results, conditions,
actions or events to differ materially from the targets,
expectations, estimates or intentions expressed with the
forward-looking statements. Except as may be required by applicable
Canadian securities laws, TeraGo does not intend, and disclaims any
obligation, to update or revise any forward-looking statements
whether in words, oral or written as a result of new information,
future events or otherwise.
SOURCE TeraGo Inc.