Tickers: XTSX:EECC.P
Tags: #Finance, #Mining
September 12, 2019 - TheNewswire - Vancouver, British Columbia - Efficacious Elk Capital Corp. (TSXV: EECC.P) ("EECC" or the "Company") is pleased to announce that all management proposed resolutions were unanimously passed at the Company's Annual General and Special Meeting of Shareholders held on September 11, 2019 (the "AGSM").
AGM Results
EECC held its 2019 AGSM on September 11, 2019. All resolutions proposed by management of the Company were unanimously passed as follows:
- The number of Directors was set at six (6) and shareholders approved the re-election of Eugene A. Hodgson, David W. Smalley, Michael B. Harrison, Rodney W. Reum, Edward T. L. Cheung and Hooi Hing Lee as directors.
- Davidson & Company, Chartered Accountants, were re-appointed as auditors of the Company for the ensuing year and the Directors have been authorized to fix their remuneration.
- The Company's existing stock option plan was reapproved. The Company's stock option plan will remain a 10% "rolling" plan.
- The shareholders of the Company approved a special resolution to authorize the Directors to initiate, in their discretion, a consolidation the shares of the Company whereby each shareholder of the Company would receive one (1) post consolidated share of the Company for every one and seven tenths (1.7) of a share currently held.
- The shareholders of the Company approved a resolution to authorize the Directors to initiate, in their discretion, a change of name of the Company.
- The shareholders of the Company approved a special resolution to authorize an amendment to the Articles of the Company.
Further information regarding the resolutions passed can be found in the Company's Information Circular as filed on the Company's profile on SEDAR at www.sedar.com
Management and the Board would like to thank EECC's shareholders for their continued support.
Update on Proposed QT with Frontier Wellness Management.
The Company is currently engaged in a detailed due diligence process with Frontier Wellness Management Inc. in respect of the Company's proposed Qualifying Transaction, as announced by News Release dated July 23, 2019. A number of the resolutions passed at the AGSM are in relation to conditions precedent of the proposed Qualifying Transaction as the Company positions itself to complete the same.
About Efficacious Elk Capital Corp.
The Company is a capital pool company ("CPC") within the meaning of the policies of the TSX Venture Exchange. The Company has not commenced operations and has no assets other than cash. The Company proposes to identify and evaluate business and assets with a view to completing a "Qualifying Transaction" under the TSX Venture Exchange Policy 2.4 - Capital Pool Companies.
For further information contact:
Eugene A. Hodgson, President and CEO
Telephone: (604) 805-6600
Investors are cautioned that trading in the securities of a CPC should be considered highly speculative.
Neither 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 release.
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