Titan Logix Corp. Reports Voting Results of Election of Directors and the Granting of Incentive Options
By Marketwired News
By Marketwired News
EDMONTON, ALBERTA–(Marketwired – Jan. 12, 2016) – Titan Logix Corp., (TSX VENTURE:TLA) (“Titan” or the “Company”), a high technology company specializing in advanced technology fluid management solutions, announced today that at its annual general meeting of shareholders held on January 11, 2016 (the “AGM”), each of the four nominees proposed as directors were elected as directors.
As previously announced, subsequent to the mailing and filing of the proxy materials, Mr. R.W. (Bob) Logan and Mr. Dave Kastelic decided not to stand for re-election, and it was proposed that Warren White be nominated for election at the meeting instead and that the number of directors be set at four (4).
The detailed results of the voting for each resulting nominee are as follows:
|Nominee||Votes For||% Votes|
|Charles Buehler||9,178,950||98.95 %||97,513||1.05 %|
|W. Douglas Frame||9,176,251||98.92 %||100,212||1.08 %|
|Greg McGillis||9,271,284||99.94 %||5,179||0.06 %|
|Warren White||9,276,463||100 %||0||0 %|
A total of 9,871,170 common shares, representing 38.49% of the votes attached to all outstanding shares as at the record date for the meeting, were represented at the AGM.
All of the matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular, both dated December 4, 2015, were approved by the requisite majority of votes cast at the AGM.
Subsequent to the annual meeting of shareholders, the newly-elected board of directors of Titan (the “Board”) appointed Charles Buehler as Chairman of the Board. Additionally, the Board appointed Warren White (Chair), Charles Buehler and Doug Frame as members of the Audit Committee and appointed Charles Buehler (Chair), Warren White and Doug Frame as members of the Executive Compensation and Corporate Governance Committee.
Further to the appointment of Warren White to the Company’s Board, and consistent with previous director appointments, the Board approved the grant of incentive stock options for Mr. White to acquire 100,000 common shares which are exercisable over a five year period ending January 11, 2021 at a price of $0.65 per share. The options were granted in accordance with the Company’s stock option plan as approved by the shareholders on January 19, 2015.
About Titan Logix Corp.:
Founded in 1979, Titan Logix Corp. (“Titan” or “the Company”) is a high technology company specializing in Research and Development (R&D), manufacturing and marketing of advanced technology fluid management solutions. The Company’s products include Guided Wave Radar (GWR) gauges for level measurement and overfill prevention (particularly for use in mobile tanker applications), level gauges for storage tanks, and communication systems for remote alarming and control. Our products are currently used in the oil and gas, waste fluid collection, chemical and aviation industries.
Titan’s products are part of a complete asset management solution. The full solution consists of Titan’s products integrated with best-in-class third party solutions to enable our complete fluid management throughout each stage of their fluid handling processes. This is captured by our slogan “Advanced Technology Fluid Management Solutions, In the Field, On the Road, In the Office”™.
- In the Field: “In the Field” refers to Titan’s solution offerings for storage tanks and process vessels.
- On the Road: “On the Road” refers to Titan’s solution offerings for mobile tanker trucks and trailers.
- In the Office: “In the Office” refers to Titan’s solution offerings that enable customers to monitor their fluid assets from the convenience of their dispatch center or other back office environment through a wired or wireless connection.
Titan Logix Corp. is a public company listed on the TSX Venture Exchange and its shares trade under the symbol TLA.
Neither 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 release.
Information in this press release that is not current or historical factual information may constitute forward looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our Management Discussion and Analysis in respect of the year ended August 31, 2015 which is available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
Titan Logix Corp.
Greg J. McGillis, P.Eng.
President and Chief Executive Officer