SAR Saratoga Electronic Solutions

Saratoga Electronic Solutions Inc. (TSX VENTURE:SAR) (the "Company") is pleased
to announce that all resolutions were approved by shareholders of the Company at
its December 15, 2011 annual and special Meeting of shareholders. This included
the election of directors, appointment of auditors and the ratification of the
presentation of financial statements in respect of a period ended earlier than
the period provided by applicable laws and regulations. A majority of
disinterested shareholders, being shareholders other Mr. Georges A. Durst and
Mr. Luc Charlebois, also voted in favour of the sale of the Company's
wholly-owned subsidiary, Car-Tel Distributions Inc. ("Car-Tel"), to 7999291
Canada Inc., a corporation controlled by Luc Charlebois, a former director of
the Company and an officer of Car-Tel.


Shareholders elected Georges A. Durst, Donald W. Seal, QC, Alfredo Perez and
Martin Fontaine to the Board of Directors of the Company.


The closing of the sale of Car-Tel took place on Friday December 16, 2011.

The Company will continue its strategic alternative review process for enhancing
shareholder value. The Board of Director's Special Committee has not set a
definitive timetable for completion or there can be no assurance that this
process will lead to the approval or completion of any definitive agreement or
other transaction.


Forward-Looking Statements

This news release contains certain forward-looking statements. These statements
are based on certain assumptions and analyses made by Saratoga in light of
management's experience and perception of current conditions and expected future
developments, as well as other factors believed to be appropriate in the
circumstances. However, whether actual results and developments will conform to
expectations, is subject to a number of risks, uncertainties and assumptions, as
well as those discussed in Saratoga's Annual Report and Management's Discussion
and Analysis. Consequently, all of the forward- looking statements in this news
release are qualified by these cautionary statements, as to Saratoga's ability
to enhance shareholder value through this process. Moreover, there can be no
assurance that the results or developments anticipated by Saratoga, including as
regards its financial resources, will be realized or, even if substantially
realized, that they will have the expected consequences to or effects on
Saratoga. Saratoga undertakes no obligation and does not intend to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under applicable law.

Saratoga Electronic Solutions (TSXV:SAR)
Historical Stock Chart
From May 2024 to Jun 2024

Saratoga Electronic Solutions (TSXV:SAR)
Historical Stock Chart
From Jun 2023 to Jun 2024