BluMetric Announces Election of Directors at Its Annual Meeting and a Stock Option Plan Amendment
Rhea-AI Summary
BluMetric Environmental (OTCQX: BLMWF) announced board elections and an amendment to its stock option plan on April 9, 2026. Scott MacFabe was re-named Chair while remaining CEO. Shareholders elected four directors and approved Ernst & Young as auditors.
The amended stock option plan raises options from 5,500,000 to 7,500,000, ~13.75% of outstanding shares, and is subject to TSX-V approval. Committee chairs and a lead independent director were also appointed.
Positive
- Board refreshed with four elected directors
- Auditor retained: Ernst & Young appointed
- Option pool increased to 7,500,000 grants
Negative
- Potential dilution from options equal to ~13.75% of shares
- TSX-V approval pending for the amended option plan
- Chair and CEO dual role may raise governance concerns
News Market Reaction – BLMWF
In the Apr 10 session, BLMWF declined 3.95%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Ottawa, Ontario--(Newsfile Corp. - April 9, 2026) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), an engineering WaterTech and full-service environmental consulting firm, today announced that Scott MacFabe has been re-named Chair of the Board of Directors of the Company, while continuing his role as Chief Executive Officer (CEO).
"I remain honoured to continue with this appointment, and I look forward to continuing to lead BluMetric in my dual role as Chair and CEO as we capitalize on growth opportunities," said Scott MacFabe.
Mr. MacFabe has served as CEO and a Director of BluMetric since March 2018. Additional details regarding his expertise and background can be found in the Company's management information circular dated January 30, 2026, a copy of which can be found under the Company's profile at www.sedarplus.ca.
The Company is also pleased to announce the shareholders approved the election of Mohsen Mortada, Stephan May, Ian Murray Macdonald and Dr. David Rudolph to the Board of Directors, Ernst & Young LLP as auditors and approved the amended and restated stock option plan at the annual and special meeting of shareholders on March 31, 2026. The amended and restated stock option plan increases the number of options available for grant under the plan from 5,500,000 to 7,500,000, representing approximately
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded water technology and environmental engineering firm. BluMetric designs, fabricates, and delivers sustainable solutions to complex water and environmental challenges. The Company is supported by more than 340 employees across 17 offices and 3 manufacturing facilities, with over 50 years of history. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Government, Military, and Mining clients in North America and the Caribbean.
For more information, visit www.blumetric.ca or please contact:
| Scott MacFabe, Chair and CEO BluMetric Environmental Inc. Tel: 1-877-487-8436 x242 Email: smacfabe@blumetric.ca | Dan Hilton, CFO BluMetric Environmental Inc. Tel: 1-877-487-8436 x550 Email: dhilton@blumetric.ca |
| Brandon Chow, Principal & Founder Panolia Investor Relations Inc. Tel: 1-647-598-8815 Email: brandon@panoliair.com |
Forward-Looking Statements
Some of the statements in this press release, including those relating to the Company's quarterly and annual results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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 or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291848