BURNABY, BC, March 24, 2016 /CNW/ - IWG Technologies, Inc. ("IWG" or the "Company") today announced the results of matters voted on at its Annual General Meeting held March 23, 2016 (the "Meeting"). Details of the matters put forth were set out in the notice of meeting and management information circular dated January 6, 2016 (the "Circular").
The total number of common shares represented in person or by proxy at the meeting was 18.1 million shares, representing 46% of the Company's outstanding common shares.
At the Meeting, the shareholders approved:
- the re-election as directors of the Company of all of the nominees listed in the Circular; and
- the re-appointment of KPMG LLP as the Company's auditors.
The resolution related to the approval of a new stock option plan by the Company was not approved and, accordingly, the Company's current stock option plan will remain in effect.
In addition, the resolution relating to the ratification and approval of the Company's advance notice policy was not approved. Accordingly, the Company's advance notice policy terminated as of the conclusion of the Meeting.
IWG Technologies, Inc. is the public holding company for International Water-Guard Industries Inc., a Canadian aerospace company focused on aircraft potable water treatment, water systems, water heaters and components. IWG has expertise in all aspects of water treatment, has the products and know-how to provide high quality water for passengers and crew, and lightweight, space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
IWG Technologies, Inc.
"Bruce W. Gowan"
Chair of the Board
This news release contains certain forward-looking statements that reflect the current views and/ or expectations of IWG with respect to its performance, business and future events including statements with respect to completion of proposed or future transactions. Such statements are subject to a number of risks, uncertainties and assumptions, which may cause actual results to be materially different from those expressed or implied. IWG assumes no future obligation to update these forward looking statements except as required by applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. 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 press release.
TSX VENTURE: IWG
SOURCE IWG Technologies Inc.
For further information: IWG Technologies, Inc., Unit One - 3771 North Fraser Way, Burnaby, BC V5J 5G5 Canada, Tel: (604) 255-5555, Fax: (604) 255-5685, www.iwgtech.com; Investor Relations: The Howard Group Inc., Jeff Walker/Grant Howard, Toll Free: 1-888-221-0915, [email protected], www.howardgroupinc.com