Mr. Dallas Duce reports
3MV ENERGY ANNOUNCES RESULTS FROM THE ANNUAL MEETING OF SHAREHOLDERS AND ISSUANCE OF SHARES
All matters set out in 3MV Energy Corp.'s management information circular dated June 8, 2015, for the 2015 annual meeting of shareholders held on July 16, 2015, have been approved by shareholders. The detailed results of the vote are set out in the attached table.
Director nominee Votes for % for Votes withheld % withheld
Ronald B. Baba 30,093,317 99.95% 15,203 0.05%
James P. Boyle 30,093,317 99.95% 15,203 0.05%
Dallas C. Duce 30,093,317 99.95% 15,203 0.05%
Jason Brooks 30,093,317 99.95% 15,203 0.05%
Donald O. Fairholm 30,093,317 99.95% 15,203 0.05%
Alex Francoeur 30,093,317 99.95% 15,203 0.05%
APPOINTMENT OF AUDITOR KPMG LLP, CHARTERED ACCOUNTANTS
Votes for % for Votes withheld % withheld
30,148,520 100.00% 0 0.00%
APPROVAL OF THE STOCK OPTION PLAN
Votes for % for Votes against % against Votes withheld % withheld
30,083,317 99.92% 25,203 0.08% 0 0.00%
Issuance of shares
3MV is also is pleased to announce that it has issued 794,949 shares of the company to Audax Investments Ltd. in relation to interest payable quarterly on the $2-million secured drawdown facility term loan. The debt facility bears interest at 8 per cent per annum, calculated and payable quarterly at the greater of the volume-weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date. Audax is a corporation controlled by Dallas Duce, interim chief executive officer, a director and control person of 3MV.
In addition, the company is pleased to announce that it has issued 897,534 shares of the company in relation to interest payable quarterly on the $6-million drawdown on its secured loan facility with Invico Diversified Income Limited Partnership. The loan facility allows up to 3 per cent of interest payable by way of quarterly share issuance at the greater of the volume-weighted average market price of the shares of 3MV on the five trading days preceding payment date or the discounted market price based on closing price at payment date. Following these issuances, there will be 57,942,394 common shares of the company issued and outstanding. The issuance of the common shares will not result in a change of control.
We seek Safe Harbor.
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