SATO Technologies Corp. Provides Results from Shareholder Meeting

Rhea-AI Summary

SATO Technologies Corp. (TSXV: SATO, OTCQB: CCPUF) announced that all resolutions at its 2024 Annual General and Special Meeting on June 14, 2024, were approved by shareholders.

The re-elected board members are Romain Nouzareth, Frank Di Tomaso, Dominique Payette, Randal Milch, Andrew Bond, and Mathieu Nouzareth.

Raymond Chabot Grant Thornton LLP was re-appointed as the independent auditor for the upcoming year. Additionally, the Company's Stock Option Plan was re-approved.

Detailed voting results showed a high approval rate for all resolutions, with percentages close to or at 100%, indicating strong shareholder support.

More information can be accessed in SATO's Management Information Circular available on SEDAR+.

Positive

• All resolutions were approved by shareholders, indicating strong support.
• Board members were re-elected with high approval rates, maintaining leadership stability.
• Raymond Chabot Grant Thornton LLP was re-appointed as the auditor, ensuring continuity in financial oversight.
• The Stock Option Plan was re-approved, which could help in retaining and motivating employees.
• High approval percentages for all resolutions, with most close to or at 100%.

Negative

• new strategic initiatives announced at the shareholder meeting could be seen as a lack of forward momentum.
• No financial performance data or forward guidance provided in the PR.

Toronto, Ontario--(Newsfile Corp. - June 17, 2024) - SATO Technologies Corp. (TSXV: SATO) (OTCQB: CCPUF) (the "Company", or "SATO") is pleased to announce that all resolutions considered at its 2024 Annual General and Special Meeting of shareholders on June 14, 2024, were approved by its shareholders. Particulars of the voting are set out at the end of this news release.

The resolutions approved by the shareholders present in person or represented by proxy at the meeting were:

• Romain Nouzareth, Frank Di Tomaso, Dominique Payette, Randal Milch, Andrew Bond and Mathieu Nouzareth were duly re-elected to SATO's board of directors.
  
  
• Raymond Chabot Grant Thornton LLP was re-appointed as an independent, external auditor of SATO for the ensuing year or until its successor is appointed, and the Board was authorized to fix its remuneration.
  
  
• The Company's Stock Option Plan was re-approved.

The resolutions voted on at the meeting are described in more detail in SATO's Management Information Circular, dated May 10, 2024, which was mailed to shareholders and is available on SEDAR+ at www.sedarplus.ca.

Detailed Voting Results

	Votes For	Votes Withheld/ Against	Total Votes Cast	Percentage of Votes For	Percentage of Votes Withheld/ Against
Elect Romain Nouzareth	32,706,927	175,022	33,050,416	99.47%	0.53%
Elect Mathieu Nouzareth	32,706,927	175,022	33,050,416	99.47%	0.53%
Elect Frank Di Tomaso	32,881,949	0	33,050,416	100.00%	0%
Elect Dominique Payette	32,822,425	59,524	33,050,416	99.82%	0.18%
Elect Randal Milch	32,881,949	0	33,050,416	100.00%	0%
Elect Andrew Bond	32,706,929	175,020	33,050,416	99.47%	0.53%
Appoint Raymond Chabot Grant Thornton LLP as Auditors	33,050,414	0	33,050,416	100%	0%
Ratify and approve the Company's Stock Option Plan	32,881,949	0	33,050,416	100%	0%

 

About SATO
SATO, founded in 2017, is a publicly listed company providing efficient computing power. The Company currently operates one center tailored to produce compute power for Bitcoin Mining, but may look to expand or add additional data centers for computing power for Bitcoin Mining, High Power Computing ("HPC"), Artificial Intelligence ("AI"), and L2's. The Company is listed on (TSXV: SATO) and (OTCQB: CCPUF). To learn more about SATO, visit www.bysato.com.

For additional information, please contact:
Romain Nouzareth
invest@bysato.com
Phone: +1 (450) 756-3636

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the future performance of the Company, and other statements that are not historical facts. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-Looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213249

FAQ

What were the results of SATO Technologies Corp.'s shareholder meeting on June 14, 2024?

All resolutions considered at the meeting were approved by shareholders.

Which board members were re-elected during SATO Technologies Corp.'s 2024 shareholder meeting?

Romain Nouzareth, Frank Di Tomaso, Dominique Payette, Randal Milch, Andrew Bond, and Mathieu Nouzareth were re-elected.

Who was appointed as the independent auditor for SATO Technologies Corp. in 2024?

Raymond Chabot Grant Thornton LLP was re-appointed as the independent auditor.

Was SATO Technologies Corp.'s Stock Option Plan approved in 2024?

Yes, the Stock Option Plan was re-approved by shareholders.

What was the approval rate for the resolutions at SATO Technologies Corp.'s 2024 shareholder meeting?

The approval rate for all resolutions was very high, with most close to or at 100%.

Where can I find more information about SATO Technologies Corp.'s 2024 shareholder meeting?

More information is available in SATO's Management Information Circular on SEDAR+.