TORONTO, April 26, 2023 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“CHAR” or the “Company”) (TSX Venture Exchange: YES) is pleased to announce the results of the Annual and Special General Meeting, which was held on March 30th, 2023. The event was held in a hybrid format, with over 140 stakeholders in attendance in person, and a further 20 attending online. The entire meeting was recorded and is available on CHAR’s website. There were a total of 33,818,554 shares represented at the meeting. William White, James Sbrolla, Nik Nanos and Hugh Cleland were all re-elected as Directors of the Corporation, to hold office until the next Annual Meeting, or until their successors are elected or appointed. The Amended and Restated Omnibus plan was also approved by vote of disinterested shareholders.
Separately, the Company has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the corporation has agreed to pay VLP $5,000 per month. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V-listed issuers.