Indiva Limited Announces Results of Annual General Meeting
OTTAWA, July 26, 2018 /CNW/ – Indiva Limited (“Indiva” or the “Company”) (TSXV:NDVA) is pleased to announce the results of its annual general and special meeting of shareholders held on July 24, 2018 (the “Meeting”).
The Company put forward the following resolutions to be voted on by shareholders at the Meeting, all of which were approved: (i) to re-appoint MNP LLP, Chartered Accountants, as auditor of the Company for the 2018 fiscal year; (ii) fixing the number of directors of the Company at six and permitting the board of directors, by resolution, to determine the number of directors; (iii) the election of directors; (iv) the ratification and approval of the Company’s Stock Option Plan; (v) the ratification and approval of the Company’s amended and restated By-Law No. 1, including the advance notice provisions included therein; and (vi) the approval of the voluntary delisting of the Corporation’s listed securities from the TSX Venture Exchange and the listing of such securities on the Canadian Securities Exchange (the “CSE”).
We are very pleased with the results of our AGM which include shareholder approval for the voluntary listing of INDIVA on the CSE. We believe a CSE listing permits greater flexibility to pursue investment and participation in US markets. This listing also helps differentiate INDIVA from many other Canadian LPs, as it opens the door to further US partnerships, while exploiting the arbitrage between valuations north and south of the border.
Niel Marotta, President and CEO of Indiva
Each of the directors elected at the Meeting, being Niel Marotta, Koby Smutylo, John Marotta, Hugh Hamish Sutherland, Andre Lafleche, and James Yersh will hold office until the next annual meeting of the Company or until their earlier resignation or removal.
Further information with respect to the matters considered at the Meeting can be found in the management information circular dated June 15, 2018, which is available under Indiva’s issuer profile at www.sedar.com.
A total of 20,606,722 common shares of the 80,991,228 common shares of the Company that were outstanding as at the record date were voted at the Meeting, representing 25.44% of such shares.
About INDIVA
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA’s strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.
