Genifi Announces Results of Annual and Special Meeting of Shareholders

TORONTO, May 24, 2024 /CNW/ - Genifi inc. (TSXV: GNFI) ("genifi" or the "Company") today announced that it held its annual and special meeting of shareholders earlier today and that shareholders approved the election of all director nominees, the re-approval of MNP LLP as auditor of the Company, the resolution re-approving the Company's option plan. The approval of the proposed going private transaction did not receive the required level of approval from the Company's disinterested shareholders and as such will not be proceeding. A total of 124 million shares, representing 86% of the total shares outstanding were represented in person or by proxy at the meeting.

The Company will continue to operate its current business and will continue to review opportunities to attempt to increase shareholder value. 

About genifi inc.:

Genifi (formerly Prodigy Ventures) delivers Fintech innovation, with its cutting-edge platforms: IDVerifact for digital identity verification, and tunl.chat for generative AI chat. Genifi has been recognized as one of Canada's fastest-growing companies and is committed to driving innovation in the Fintech industry.

Forward-Looking and Cautionary Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward looking information includes without limitation, statements regarding the Company's future plans. Although genifi believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. The forward-looking information is based on certain assumptions, which could change materially in the future. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in genifi's Management's Discussion and Analysis for the period ended December 31, 2023, a copy of which is filed on SEDAR+ at www.sedarplus.ca. Readers are cautioned that this list of risk factors should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, genifi does not intend, or assume any obligation, to update these forward-looking statements.

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.

SOURCE genifi inc.

GENIFI INC., Andrew Hilton, Chief Financial Officer, [email protected], 416-606-8833