TORONTO, June 8, 2022
/CNW/ - Pluribus Technologies Corp. (TSXV: PLRB) ("Pluribus"
or the "Company"), a growing acquiror of small, profitable
technology companies, is pleased to announce the results of its
annual and special meeting of shareholders (the
"Meeting") held on June 8,
2022.
A total of 8,454,740 shares were voted at the Meeting in person
or by proxy, representing 53.56% of the votes attached to all of
Company's issued and outstanding common shares. All matters
submitted to shareholders for approval as set out in the Company's
Notice of Meeting and Management Information Circular dated
May 9, 2022 were approved by an
overwhelming majority of votes cast at the Meeting.
At the Meeting, management presented to the shareholders
its nominees for election as directors. The following
individuals were elected to serve as directors of the Company for
the ensuing year:
Name
|
Votes in
Favour
|
Votes
Withheld/Abstained
|
Richard
Adair
|
8,404,741
(99.41%)
|
49,999
(0.59%)
|
Elmer Kim
|
8,404,241
(99.40%)
|
50,499
(0.60%)
|
Carolyn
Currie
|
8,404,741
(99.41%)
|
49,999
(0.59%)
|
Jim Dunbar
|
8,404,241
(99.40%)
|
50,499
(0.60%)
|
Warner Sulz
|
8,181,641
(96.77%)
|
273,099
(3.23%)
|
David Coombs
|
8,172,693
(96.66%)
|
282,047
(3.34%)
|
Alfred Apps
|
8,181,641
(96.77%)
|
273,099
(3.23%)
|
At the Meeting, Shareholders were asked to fix the board of
directors of the Company (the "Board") at seven (7) and to
authorize the Board to determine the number of directors of the
Company within the minimum and maximum numbers set forth in the
articles of the Company and the number of directors to be elected
at the Company's next annual meeting of Shareholders. The special
resolution in respect of the size of the Board was approved:
Votes in
Favour
|
Votes
Withheld/Abstained
|
8,404,741
(99.41%)
|
49,999
(0.59%)
|
At the Meeting, shareholders were asked to approve the
re-appointment of EY Canada LLP as the Company's auditors for the
ensuing year. According to votes cast, EY Canada LLP was
re-appointed as the Company's auditors with 100% of the votes in
favour.
At the Meeting, shareholders were asked to ratify the ten
percent rolling stock option plan of the Company, as required by
the TSX Venture Exchange ("TSXV") on an annual basis. The
resolution in respect of the stock option plan was approved:
Votes in
Favour
|
Votes
Withheld/Abstained
|
8,403,941
(99.40%)
|
50,799
(0.60%)
|
Finally, at the Meeting shareholders passed a special resolution
to ratify and confirm an amendment to the Corporation's by-laws.
The resolution in respect of the Company's by-laws was
approved:
Votes in
Favour
|
Votes
Withheld/Abstained
|
6,965,366
(82.38%)
|
1,489,374
(17.62%)
|
Stock Option Grant
Pluribus has granted incentive stock options ("Options")
to purchase an aggregate of 119,702 common shares (the "Common
Shares") of the Company to an officer of the Company pursuant
to the Company's stock option plan (the "Option Grant"). The
Options are exercisable until June 7,
2027 at a price of $4.72 per
Common Share, and vest in accordance with the following schedule:
1/3 on December 7, 2022, 1/3 on
June 7, 2023 and 1/3 on June 7, 2024.
The issuance of the Options, as contemplated in this news
release, is subject to the terms of the Company's stock option plan
and TSXV approval.
About Pluribus Technologies Corp.
Pluribus is a technology company that is a value-based acquirer
of small, profitable business-to-business technology companies in a
range of verticals and industries. Pluribus provides its
acquisitions access to experienced sales and marketing resources,
strategic partnership opportunities, a diverse portfolio of
customers in different geographical markets and enabling
technologies to create new revenue streams and provide the
opportunity for these companies to grow in their respective
markets. For more information, please
visit: https://www.pluribustechnologies.com/.
Forward-Looking Information
Certain information in this press release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking information in this press release
includes, but is not limited to, statements with respect to the
business plans of the Company, including the successful completion
and pace of future acquisitions, the Company management's
expectation on the growth, profitability and performance of its
current and future acquisitions, TSXV approval of the Option Grant,
the Company's ability to continue acquiring business-to-business
software companies at reasonable prices and the Company's ability
to grow its portfolio companies into significant organizations.
Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "potential", "believe",
"intend" or negatives of these terms and similar
expressions.
Forward-looking statements are based on certain assumptions,
including the Company's ability to complete acquisitions on
favorable terms; the Company's ability to manage a complex
portfolio of companies effectively; the Company's ability to
scale its management team to support a rapid pace of growth; the
Company's ability to raise sufficient financing to continue the
pace of its acquisition strategy; the Company's ability to maintain
its rapid pace of growth. Other assumptions include industry
trends, the availability of growth opportunities, and general
business, economic, competitive, political, regulatory and social
uncertainties will not prevent the Company from conducting its
business. While the Company considers these assumptions to be
reasonable based on information currently available, they are
inherently subject to significant business, economic and
competitive uncertainties and contingencies and they may prove to
be incorrect. Forward-looking information speaks only to such
assumptions as of the date of this release.
Forward-looking statements also necessarily involve known and
unknown risks, including without limitation, risks associated with
general economic conditions, including the COVID-19 pandemic,
adverse industry events, marketing costs, loss of markets, future
legislative and regulatory developments, the inability to access
sufficient capital on favourable terms, the Company's limited
operating history; ability to complete favorable acquisitions; the
software industry in Canada and
internationally, income tax and regulatory matters, the ability of
the Company to execute its business strategies, including the
ability manage a complex portfolio of companies effectively,
competition, currency and interest rate fluctuations, and other
risks.
Readers are cautioned that the foregoing is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ from those anticipated.
Forward-looking statements are not guarantees of future
performance. The purpose of forward-looking information is to
provide the reader with a description of management's expectations,
and such forward-looking information may not be appropriate for any
other purpose. Except as required by law, the Company disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
Contact:
Craig Armitage
LodeRock Advisors
investors@pluribustechnologies.com
+1 (416) 347-8954
Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383
SOURCE Pluribus Technologies Corp.