Gunpowder Capital Corp., Announces Results of Its AGM
Toronto, Ontario--(Newsfile Corp. - August 4, 2017) - Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTC Pink: GNPWF), (FSE: YS6N), ("Gunpowder" or the "Corporation") announced today the results of the Corporation's Annual General Meeting ("AGM") of Shareholders which was held on August 4th, 2017 at 11:00 am EST at the Corporation's head office in Toronto.
The Corporation is pleased to report that all items that were set out in the Notice of the Meeting were duly passed at the AGM including the appointment of UHY McGovern, Hurley, Cunningham LLP., as the Corporation's Auditor, the approval of the Corporation's current Stock Option plan and the election of the Directors. Each of the nominee Directors recommended by Management, and listed in the Corporation's Information Circular, and Proxy Statement dated June 23rd, 2017 was elected as a Director of the Corporation for a term ending at the next Annual General Meeting of Shareholders. Out the 30,910,256 common shares eligible to vote at this year's AGM, proxies were received from the holders of 12,119,910 common shares, representing a record high voting percentage of 39.2%. The voting results are as follows:
Appointment of Auditors
Votes For | Votes Against | Abstain | Percentage in Favor For |
11,953,910 | Nil / 0 | 166,000 | 98.6% |
Approval of Stock Option Plan
Votes For | Votes Against | Abstain | Percentage in Favor For |
11,354,544 | 765,366 | 0 / NIL | 93.7% |
Election of Directors
Name of Nominee | Votes For | Abstain | Percentage in Favor For |
Steve Mlot | 11,953,910 | 166,000 | 98.6% |
Dan Collia | 11,379,544 | 740,366 | 93.9% |
Frank Kordy | 11,379,544 | 740,366 | 93.9% |
Mr. Frank Kordy stated: "I'm extremely pleased by the very strong voter turnout at this year's AGM, as the percentage of shares voted is a record. The Shareholders of the Corporation have demonstrated that they have a strong interest in their Corporation and that they have confidence in the current Management team, and confidence in the direction that their Corporation is currently headed in. Since making key operational and structural changes to the Corporation, we have gained substantial momentum in our business model throughout fiscal 2016 and in 2017. This momentum is reflected in the dramatic increase in the Corporation's 'Total Assets' ledger and can easily be seen by the Corporation's rapidly increasing revenue streams. Both the Board and the Management team of Gunpowder wish to express their 'thanks' to all shareholders for their continued support. The Management team will continue to work hard in advancing the Corporation forward and we will remain focused on increasing the Corporation's asset pool and incoming revenue streams."
For further information please contact
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
E: frank.kordy@gunpowdercapitalcorp.com
Mr. Paul Haber
CFO
Gunpowder Capital Corp.
T: (416) 363-3833
E: paul.haber@gunpowdercapitalcorp.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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