Cathedra Bitcoin Announces Results of Annual General and Special Meeting, Including the Approval of the Proposed Merger with Kungsleden, Inc.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) held its Annual General and Special Meeting on July 22, 2024, with 63.90% of outstanding shares represented. Shareholders approved all matters, including the proposed merger with Kungsleden, Inc. Key approvals include:
1. Appointment of SRCO Professional as auditors
2. Setting the number of directors at seven
3. Election of seven directors
4. Approval of the merger with Kungsleden, Inc.
5. Alteration of articles to create a new class of multiple voting shares
6. Authorization for potential share consolidation
7. Approval of the Company's equity-based incentive plan
The Company expects to close the merger soon, subject to TSX Venture Exchange approval, with trading of Cathedra shares to resume shortly after.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) ha tenuto la sua Assemblea Generale e Straordinaria il 22 luglio 2024, con il 63,90% delle azioni in circolazione rappresentate. Gli azionisti hanno approvato tutte le questioni, compresa la fusione proposta con Kungsleden, Inc. Le approvazioni chiave includono:
1. Nomina di SRCO Professional come revisori dei conti
2. Stabilire il numero di amministratori a sette
3. Elezione di sette amministratori
4. Approvazione della fusione con Kungsleden, Inc.
5. Modifica degli articoli per creare una nuova classe di azioni con diritto di voto multiplo
6. Autorizzazione per una potenziale consolidazione delle azioni
7. Approvazione del piano di incentivazione basato sull'equity della Società
La Società prevede di concludere la fusione a breve, soggetta all'approvazione della TSX Venture Exchange, con la ripresa delle contrattazioni delle azioni Cathedra poco dopo.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) llevó a cabo su Asamblea General y Extraordinaria el 22 de julio de 2024, con el 63.90% de las acciones en circulación representadas. Los accionistas aprobaron todos los asuntos, incluida la fusión propuesta con Kungsleden, Inc. Las aprobaciones clave incluyen:
1. Nombramiento de SRCO Professional como auditores
2. Establecimiento del número de directores en siete
3. Elección de siete directores
4. Aprobación de la fusión con Kungsleden, Inc.
5. Modificación de los estatutos para crear una nueva clase de acciones con derecho a voto múltiple
6. Autorización para una posible consolidación de acciones
7. Aprobación del plan de incentivos basado en acciones de la Compañía
Se espera que la Compañía concluya la fusión pronto, sujeto a la aprobación de la TSX Venture Exchange, reanudando las negociaciones de las acciones de Cathedra poco después.
캐세드라 비트코인 주식회사 (TSXV: CBIT) (OTC Pink: CBTTF)는 2024년 7월 22일 연례 일반 및 특별 주주 총회를 개최했으며, 주식의 63.90%가 참석했습니다. 주주들은 모든 사항을 승인했습니다, 여기에는 Kungsleden, Inc.와의 합병 제안이 포함됩니다. 주요 승인 항목은 다음과 같습니다:
1. SRCO Professional을 감사인으로 임명
2. 이사 수를 7명으로 설정
3. 7명의 이사 선출
4. Kungsleden, Inc.와의 합병 승인
5. 다중 투표 주식의 새로운 클래스를 만들기 위한 정관 변경
6. 잠재적 주식 통합에 대한 승인
7. 회사의 경영 성과 기반 인센티브 계획 승인
회사는 TSX 벤처 거래소의 승인을 조건으로 곧 합병을 마무리할 것으로 예상하고 있습니다, 캐세드라 주식의 거래는 그 직후에 재개될 것입니다.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) a tenu son Assemblée Générale Annuelle et Spéciale le 22 juillet 2024, avec 63,90% des actions en circulation représentées. Les actionnaires ont approuvé toutes les questions, y compris la fusion proposée avec Kungsleden, Inc. Les approbations clés comprennent :
1. Nommer SRCO Professional comme auditeurs
2. Fixer le nombre de directeurs à sept
3. Élection de sept directeurs
4. Approbation de la fusion avec Kungsleden, Inc.
5. Modification des statuts pour créer une nouvelle classe d'actions à vote multiple
6. Autorisation pour une éventuelle consolidation des actions
7. Approbation du plan d'incitation en actions de la société
La société s'attend à finaliser la fusion prochainement, sous réserve de l'approbation de la TSX Venture Exchange, avec la reprise des négociations des actions de Cathedra peu après.
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) hielt am 22. Juli 2024 seine Haupt- und Sonderversammlung ab, wobei 63,90% der ausstehenden Aktien vertreten waren. Die Aktionäre genehmigten alle Angelegenheiten, einschließlich der vorgeschlagenen Fusion mit Kungsleden, Inc. Zu den wichtigsten Genehmigungen gehören:
1. Ernennung von SRCO Professional als Wirtschaftsprüfer
2. Festlegung der Anzahl der Direktoren auf sieben
3. Wahl von sieben Direktoren
4. Genehmigung der Fusion mit Kungsleden, Inc.
5. Änderung der Satzung zur Schaffung einer neuen Klasse von Mehrfachstimmrechtsaktien
6. Genehmigung einer möglichen Aktienkonsolidierung
7. Genehmigung des aktienbasierten Anreizplans des Unternehmens
Das Unternehmen erwartet, die Fusion bald abschließen zu können, vorbehaltlich der Genehmigung der TSX Venture Exchange, wobei der Handel mit Cathedra-Aktien kurz danach wieder aufgenommen wird.
- Shareholders approved the merger with Kungsleden, Inc., potentially strengthening the company's position
- High shareholder participation with 63.90% of outstanding shares represented at the meeting
- All proposed matters received strong approval, with most votes ranging from 86% to 87% in favor
- Authorization for potential share consolidation, which could improve stock marketability
- The merger and resumption of trading are still subject to TSX Venture Exchange approval, introducing uncertainty
- Creation of a new class of multiple voting shares may dilute voting power of existing common shareholders
- Potential share consolidation could reduce liquidity for smaller investors
Toronto, Ontario--(Newsfile Corp. - July 22, 2024) - (Block Height: 853,440) - Cathedra Bitcoin Inc. (TSXV: CBIT) (OTC Pink: CBTTF) ("Cathedra" or the "Company"), a diversified bitcoin mining company, is pleased to announce the results of its Annual General and Special Meeting of shareholders ("Shareholders") held on July 22, 2024 (the "Meeting").
A total of 151,567,601 common shares of the Company were represented at the Meeting, representing
The Company expects to close the Merger in short order and expects that shares of Cathedra will resume trading shortly thereafter. Closing of the Merger and resumption of trading is subject to the satisfaction of certain conditions, including but not limited to the approval of the TSX Venture Exchange.
The following voting results are based on the total number of votes that were cast at the Meeting:
| Appointment of Auditors | For | Withheld | Outcome |
| Appoint SRCO Professional Corporation as Auditors of the Company for the ensuing year and to authorize Directors to fix their remuneration | 132,429,283 ( | 19,138,318 ( | Carried |
| Number of Directors | For | Against | Outcome |
| Set the number of directors at seven (7) | 132,568,023 ( | 18,999,578 ( | Carried |
| Election of Directors | For | Withheld | Outcome |
| Elect the following nominees as directors of the Company | |||
| Thomas Armstrong | 125,167,016 ( | 19,028,721 ( | Carried |
| Antonin Scalia | 125,149,757 ( | 19,045,980 ( | Carried |
| David Jaques | 125,166,222 ( | 19,029,515 ( | Carried |
| Marcus Dent | 125,186,082 ( | 19,009,655 ( | Carried |
| Jialin Gavin Qu(1) | 124,899,823 ( | 19,295,914 ( | Carried |
| Thomas Masiero(1) | 124,753,563 ( | 19,442,174 ( | Carried |
| Matthew Kita(1) | 124,996,482 ( | 19,199,255 ( | Carried |
| Approval of Merger with Kungsleden | For | Against | Outcome |
| Approval of Merger with Kungsleden, Inc. | 125,017,427 ( | 19,178,310 ( | Carried |
| Alteration to Articles | For | Against | Outcome |
| Approval of alteration of the Company's articles to re-designate the Company's common shares as subordinate voting shares and create a new class of multiple voting shares. | 124,614,146 ( | 19,581,591 ( | Carried |
| Approval of Consolidation | For | Against | Outcome |
| Authorize the directors to consolidate the common shares (as presently constituted or as re-designated) on the basis of one post-consolidation common share for up to 150 pre-consolidation common share (or such lesser ratio as the board of directors of the Company may determine). | 131,429,577 ( | 20,138,023 ( | Carried |
| Approval of Long-Term Incentive Plan | For | Against | Outcome |
| Approve the Company's equity-based incentive plan for the ensuing year. | 124,855,780 ( | 19,339,957 ( | Carried |
About Cathedra Bitcoin
Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) is a Bitcoin company that believes sound money and abundant energy are the keys to human flourishing. The Company has diversified bitcoin mining operations which produce 355 PH/s across two states and four locations in the United States. The Company is focused on managing and expanding its portfolio of hash rate through a diversified approach to site selection and operations, utilizing multiple energy sources across various jurisdictions.
For more information about Cathedra, visit cathedra.com or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin.
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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.
Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as
at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Other forward-looking information includes but is not limited to information concerning the closing of the Merger.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. The Company has also assumed that no significant events occur outside of the proposed Merger. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Media and Investor Relations Inquiries
Please contact:
Antonin Scalia
Chief Executive Officer
ir@cathedra.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217388
FAQ
What was the outcome of Cathedra Bitcoin's (CBTTF) merger proposal with Kungsleden, Inc.?
When does Cathedra Bitcoin (CBTTF) expect to close the merger with Kungsleden, Inc.?
What changes to Cathedra Bitcoin's (CBTTF) share structure were approved at the July 22, 2024 meeting?
How many directors were elected to Cathedra Bitcoin's (CBTTF) board at the July 22, 2024 meeting?
