Edmonton, Alberta–(Newsfile Corp. – May 20, 2022) – TrustBIX Inc. (TSXV: TBIX) (OTCQB: TBIXF) (“TrustBIX” or the “Company”) is pleased to announce that the Company held its Annual General and Special Meeting (the “Meeting”) via webcast on May 20, 2022. All matters to be acted upon, as set out in the Company’s Notice of Meeting and Management Information Circular dated April 14, 2022, were approved by shareholders at the Meeting.
The Company’s shareholders voted to:
Fix the number of directors at five;
Elect Hubert Lau, Edward (Ted) Power, David Schuster, Lap Shing (Andrew) Kao, and Emma Todd as directors;
Appoint Kenway Mack Slusarchuk Stewart LLP, Chartered Professional Accountants, as the Company’s auditors for the ensuing year and authorize the directors to fix their remuneration;
Approve the amendment of the Company’s bylaws to include the Advance Notice provisions as described in the Management Information Circular; and
Re-approve the Company’s fixed stock option plan, whereby a maximum of 15,849,966 option shares, being 20% of the Company’s issued and outstanding common shares, will be reserved for issuance as described in the Management Information Circular.
The directors and management of TrustBIX thank all shareholders for their participation in the Meeting and for their continuing support.
Mr. Tony Barlott, Mr. William Shea Jameson, and Mr. Gerben (Jerry) Bouma did not stand for re-election for the ensuing year.
“We all thank Tony, Shea and Jerry for their tireless work and tremendous contributions over their tenure as directors. They were key to our success in getting to this stage in our development and growth. We look forward to their continued support as they form the Company’s new advisory board,” said Hubert Lau, TrustBIX CEO.
Subsequent to the Annual General and Special Meeting, 6,625,000 stock options have been granted to directors, officers, employees and contractors of the Company as part of their compensation plans. All options granted have a strike price of $0.10, vest 50% on each of the grant and anniversary dates and will expire in five years if not exercised.
About TrustBIX (TSXV: TBIX) (OTCQB: TBIXF)
As an innovative leader, TrustBIX provides agri-food traceability and chain of custody value solutions. The Company’s goal is to create a world where we trust more, waste less and reward sustainable behaviour by addressing consumer and agri-food business demands. The proprietary platform, BIX (Business InfoXchange system), is designed to create trust without compromising privacy through innovative, blockchain-derived use of technology and data. By leveraging BIX and its unique use of incentive solutions, TrustBIX delivers independent validation of food provenance and sustainable production practices within the supply chain – Gate to Plate®.
ViewTrak Technologies Inc., a wholly owned subsidiary, provides a suite of hardware and software solutions to the livestock industry in Canada, United States, Mexico and China, such as Auction Master Pro, Market Master, Feedlot Solutions and pork grading probes.
The Company’s Insight technology offers an edge-to-enterprise supply chain solution that brings asset situational awareness to dealers, equipment fleets, and civil construction managers. The platform allows for the tracking, protection, and identification of movement of assets using self-powered and self-reporting cellular tags and cloud-based suite of tools.
This press release contains certain forward-looking information and reflects the Company’s present assumptions regarding future events. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company’s actual results, levels of activity, performance, and/or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
Certain statements contained in this document constitute forward-looking statements and information within the meaning of the applicable Canadian securities legislation. When used in this document, the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “propose”, “anticipate”, “believe”, “forecast”, “estimate”, “expect” and similar expressions used by any of the Company’s management, are intended to identify forward-looking statements. Such statements reflect the Company’s internal projections, expectations, future growth, performance and business prospects and opportunities and are based on information currently available to the Company. Since they relate to the Company’s current views with respect to future events, they are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by applicable securities legislation, regulations or policies.
FOR MORE INFORMATION CONTACT:
Mr. Hubert Lau
President and CEO
Telephone: (780) 456-2207
Email: [email protected]
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 of accuracy of this release.
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