Edge Total Intelligence Announces Results of Annual General Meeting
ARLINGTON, Va., Aug. 24, 2023 (GLOBE NEWSWIRE) -- Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV: CTRL, OTCQB: UNFYF, FSE: Q5i), a leader in real-time digital operations software, is pleased to announce the results of its Annual General and Special Meeting of Shareholders (“AGM”) held virtually on August, 23 2023 at 12:00 EDT. Shareholders of the Company voted in favor of all items put forward by the board of directors (the “Board”) and management.
The results of the meeting were as follows:
- The number of directors of the Company was set at seven (7).
- All seven of the individuals nominated for the Board were elected, being James Barrett, Fay Arjomandi, Seth Kay, Edward Mede, Brett Paulson, Jaci Tomek, and Mel Wesley. Four of the seven nominees were already directors of the Company and three new independent directors were elected. Of the directors elected or reelected, Fay Arjomandi, Edward Mede, Jaci Tomek and Mel Wesley are independent.
- MNP LLP, Chartered Professional Accountants, were re-appointed as auditors of the Company and the directors of the Company were authorized to determine their remuneration.
- The shareholders of the Company approved amendments to the Company’s current omnibus incentive plan (the "Omnibus Plan") to (a) clarify and better align the Omnibus Plan to the provisions of the Income Tax Act (Canada) and the United States Internal Revenue Code of 1986 including guidance from the Canadian Revenue Agency regarding certain administrative matters, (b) provide the Board with the ability to designate, at the time of grant, whether a share unit is a "Cash-or-Share Settled Share Unit" or a "Share-Settled Share Unit" and (c) revise certain provisions of the Omnibus Plan to clarify that the Omnibus Plan is a "rolling up to 10% and fixed up to 10%" plan, within the meaning of TSX Venture Exchange Policy 4.4 (together, the "Amendments"). The Amendments do not impact any outstanding awards issued under the current Omnibus Plan.
“We appreciate the service of the prior Board and welcome our new directors Fay Arjomandi, Jaci Tomek, and Mel Wesley who were nominated and elected for their experience, expertise, and knowledge in technology and digital innovation,” said James Barrett, CEO of edgeTI. “The Company looks forward to their contribution and direction.”
About edgeTI
edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform's low-code development capability and composable operations. With edgeCore, customers improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.
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For further information contact:
Jim Barrett
Phone: 888-771-3343
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Neither the 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.
Forward-Looking Information and Statements
Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the edgeTI, including but not limited to, changes in U.S. Federal Budget, business, economic and capital market conditions.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the edgeTI will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, the impact of viruses and diseases on the edgeTI's ability to operate, competition and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the edgeTI disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
