TVI Announces the Results of its Annual Meeting of Shareholders
CALGARY, June 22, 2018 /CNW/ - TVI Pacific Inc. (TSX-V: TVI) (OTC Pink: TVIPF) ("TVI" or "the Company") announces that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on June 21, 2018. A total of 131,355,927 shares were represented in person or by proxy at the meeting, representing approximately 20.04% of the Company's outstanding shares.
Results of Annual General Meeting
The following Board members stood for re-election and were duly re-elected: Clifford M. James, Robert C. Armstrong, C. Brian Cramm, Jan R. Horejsi and David Moscovitz. These directors will hold office until the next TVI annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation. Of the 131,355,927 votes cast, approximately 98.53% were in favour of the election of the directors, while 1.47% were withheld.
Voting results for individual directors are set out below:
| Name of Nominee |
Votes For |
Percentage |
Votes |
Percentage |
| Robert C. Armstrong |
125,283,995 |
98.53% |
1,864,408 |
1.47% |
| C. Brian Cramm |
125,283,995 |
98.53% |
1,864,408 |
1.47% |
| Jan R. Horejsi |
125,283,995 |
98.53% |
1,864,408 |
1.47% |
| Clifford M. James |
125,283,995 |
98.53% |
1,864,408 |
1.47% |
| David Moscovitz |
125,398,495 |
98.62% |
1,749,908 |
1.38% |
PricewaterhouseCoopers LLP was reappointed as the external auditor of TVI and will hold office until the next annual meeting at such remuneration as may be determined by the directors of the Company. Approximately 99.82% of the votes cast supported the appointment of the auditor, while 0.18% were withheld.
Shareholders also approved TVI's Stock Option Plan, through which the total number of common shares reserved for issuance as incentive stock options granted to insiders shall not exceed 10% of the total issued and outstanding common shares from time to time. TVI's Stock Option Plan was previously approved at the Annual Meeting of Shareholders on June 22, 2017, but annual approval of the rolling option plan is required by the TSX Venture Exchange. The currently approved plan will remain valid until the 2019 Annual Meeting of Shareholders. Of the 127,148,403 eligible votes cast, 98.08% were in favour of the Stock Option Plan, while 1.92% were against.
About TVI Pacific Inc.
TVI Pacific Inc. is a Canadian resource company focused on the acquisition of resource projects in the Asia Pacific region. TVI currently holds a 30.66% equity interest in TVIRD and a 4.93% equity interest in Integrated Green Energy Solutions Ltd, a publicly listed company incorporated in Australia with shares listed on the ASX, that is engaged in the commercialization of technologies related to converting waste plastics to fuel in Australia and internationally. TVI's other holdings include a 14.4% equity interest in Mindoro Resources Ltd.; a 10% interest in the Amazon Bay Iron Sands project in Papua New Guinea; and a 100% investment in shares of TG World. As at the date of this announcement, TVI has 655,537,049 outstanding common shares and 698,987,039 fully diluted including the currently issued outstanding options of 43,450,000.
IMPORTANT INFORMATION REGARDING FORWARD-LOOKING 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", "scheduled", "to be", "will be" and similar expressions. Forward-looking statements in this News Release are based upon the opinions and expectations of management of the Company as at the effective date of such statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties (known and unknown) that could cause actual outcomes to differ materially from those anticipated or implied by such forward-looking statements.
Various risks to which the Company is exposed in the conduct of its business (including mining activities) are described in detail in the Company's Annual Information Form for the year ended December 31, 2017, which was filed on SEDAR on April 19, 2018 and is available under the Company's profile at www.SEDAR.com. Subject to applicable securities laws, the Company does not undertake any obligation to publicly revise the forward-looking statements included in this News Release to reflect subsequent events or circumstances.
SOURCE TVI Pacific Inc.
Patrick Hanna, Chief Financial Officer, TVI Pacific Inc., Phone: 403-265-4356, E-mail: [email protected]
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