VANCOUVER, May 13, 2014 /CNW/ - UrtheCast Corp. (TSX:UR) ("UrtheCast" or "the Company"), in accordance with the requirements of the Toronto Stock Exchange, is issuing this news release to disclose that the seven nominees listed in its management proxy circular dated April 11, 2014 were elected as its directors. The detailed results of the vote for the election of directors at its Annual General and Special Meeting of Shareholders (the "Meeting") held Monday May 12 in Vancouver, British Columbia, are set out below.
A total of 25,507,588 common shares were voted in connection with the Meeting, representing approximately 39.69% of the issued and outstanding common shares of the Company. On a vote by ballot, each of the following nominees proposed by management was elected as a director of UrtheCast to hold office until the next annual meeting of shareholders, or until their successors are elected or appointed:
|Nominee||Votes For||% Votes For||Votes Withheld||% Votes Withheld|
|Tye W. Burt||24,831,752||99.8%||36,332||0.2%|
|Peter W. Roberts||24,832,052||99.8%||36,052||0.2%|
Other Matters Voted Upon
In addition, by resolution passed by ballot vote, an amendment to the Equity Incentive Plan to require shareholder approval to reduce the exercise price of any outstanding option, whether such option is held by an insider of the Company or not, was approved by shareholders. The results of the ballot were as follows:
|Votes For||% Votes For||Votes Against||% Votes Against|
The results of other matters considered at the Meeting are reported in the Report of Voting Results as filed on SEDAR (www.sedar.com) on May 13, 2014.
About UrtheCast Corp.
UrtheCast Corp. is a Vancouver-based technology company that is developing the world's first Ultra HD video feed of Earth, streamed from space in full color. Working with renowned aerospace partners from across the globe, UrtheCast has built, launched, installed, and will soon operate two cameras on the Russian segment of the ISS. Video and still image data captured by the cameras will be downlinked to ground stations across the planet and displayed on the UrtheCast web platform, or distributed directly to exclusive partners and customers. UrtheCast's cameras will provide Ultra HD video and still imagery of Earth that will allow for monitoring of the environment, humanitarian relief, social events, agricultural land, etc. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker 'UR'. For more information visit our website at urthecast.com.
Forward Looking Information
This release contains certain information which, as presented, constitutes "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information involves statements that an action or event "will" be taken or occur (or similar language) and includes statements about the plans to operate camera components on the ISS, proposed image and video product offerings and expected partners and customers to distribute such products. Forward-looking statements are subject to various known and unknown risks, many of which are beyond the ability of UrtheCast to control or predict, and which may cause UrtheCast's actual results to be materially different from those expressed or implied thereby, including, but not limited to, damage which may have occurred to the cameras during launch or installation, unexpected changes in Russian or Canadian government policies as well as those factors discussed in the Company's annual information form dated March 26, 2014, (the "AIF") and the Company's short form base shelf prospectus dated April 7, 2014 (the "Prospectus") which are available under UrtheCast's SEDAR profile at www.sedar.com. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, in the AIF and Prospectus, and as otherwise disclosed from time to time on UrtheCast's SEDAR profile. UrtheCast undertakes no obligation to update forward-looking statements except as may be required by applicable Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.
SOURCE: UrtheCast Corp.
For further information:
Issa Nakhleh, CFO