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Bri-Chem Corp. Reschedules Shareholder Meeting to September 16, 2025 and Announces Adoption of Advance Notice By-Law
Edmonton, Alberta--(Newsfile Corp. - June 18, 2025) - Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF)...
About this update from Bri-chem Corp.
[{"type":"text","content":"Bri-Chem Corp. Reschedules Shareholder Meeting to September 16, 2025 and Announces Adoption of Advance Notice By-LawEdmonton, Alberta--(Newsfile Corp. - June 18, 2025) - Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF) (\"Bri-Chem\" or \"Company\"), a leading North American oilfield chemical distribution and blending company, announces today that it has rescheduled its annual general meeting (\"Meeting\"), which was originally scheduled for June 20, 2025. The Meeting will now take place on September 16, 2025. The specific time and location of the Meeting are not yet determined but will be announced when the Company files its management information circular and related proxy materials in connection with the Meeting, which is expected to be an annual and special meeting.Bri-Chem has determined that it is in the best interests of the Company and its shareholders to postpone the Meeting in order to: (i) include at least one additional resolution to be presented to shareholders in respect of the ratification and approval of the Advance Notice By-Law (as defined below), (ii) provide shareholders with notice that a proxy contest exists with respect to certain alternative director nominees being proposed by Barry Hugghins and his joint actors (collectively, the \"Hugghins Group\"), and (iii) provide all shareholders with sufficient time and adequate information in respect of such alternative nominees, including an opportunity to assess the nominees' Canadian public company experience and related Canadian securities law qualifications, to make an informed voting decision. The postponement of the Meeting will provide additional time for, among other things:a detailed review of the purported experience and qualifications of the proposed nominees;the preparation of updated meeting materials that will fully inform shareholders about the important voting decision they face; anda determination by the Company's board of directors (the \"Board\") as to whether there might be an opportunity to have further discussions with Hugghins Group that avoids the distraction and expense of a proxy contest.Bri-Chem also announces it has adopted By-Law No. Two (the \"Advance Notice By-Law\") to provide shareholders, directors and management of the Company with guidance on the nomination of directors.The Advance Notice By-Law is similar to the advance notice by-...