Business
KWG Resources Announces Results and Adjournment of Annual and Special Shareholders' Meeting
Toronto, Ontario--(Newsfile Corp. - September 12, 2018) - KWG Resources Inc. (CSE: KWG) (FSE: KW61) ("KWG" or the "Company") is pleased to announce the results
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[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - September 12, 2018) - KWG Resources Inc. (CSE: KWG) (FSE: KW61) (\"KWG\" or the \"Company\") is pleased to announce the results of the annual and special meeting of shareholders (the \"Meeting\") held September 11, 2018. Shareholders holding an aggregate of 410,411,070 votes (40.32% of the outstanding votes) were present or represented by proxy at the Meeting. The shareholders voted in favour of four of the items tabled at the Meeting, namely: (i) the re-appointment of UHY McGovern Hurley LLP as auditors of the Company, which was approved by 98.58% of the votes cast by shareholders present in person or represented by proxy at the Meeting, (ii) setting the number of directors (between the minimum and maximum prescribed by the Company's articles) at five (5), which was approved by 89.30% of the votes cast by shareholders present in person or represented by proxy at the Meeting; (iii) the amendment to the Company's stock option plan, which was passed by 55.39% of the votes cast by shareholders present in person or represented by proxy at the Meeting; and (iv) the election of the five nominees listed in the management information circular dated August 7, 2018 as directors of the Company for the ensuing year or until their successors are elected or appointed. The shareholders adjourned the meeting to allow the solicitation of additional votes to be received with respect to the fifth item tabled at the Meeting, namely a special resolution to create a new class of shares issuable in series and to be designated as \"preference shares\". While the proposed fifth resolution would have received the approval of a majority of the votes which could have been cast by shareholders present in person or represented by proxy, an approval of at least two-thirds of the votes cast was necessary in order for the resolution to be passed. Accordingly, the Meeting was adjourned to reconvene at 199 Bay Street, Suite 2200, Toronto, Ontario, at 11:00 p.m. (Toronto time) on Friday, October 12, 2018, or such earlier date and time as may be announced by news release at the direction of the Chief Executive Officer. About KWG:KWG is the Operator of the Black Horse Joint Venture (\"JV\") after acquiring a vested 50% interest through Bold Ventures Inc (\"Bold\") from Fancamp Exploration Ltd (\"Fancamp\"). KWG funds all JV explo...