Clip Money Inc. Announces Results of Voting at Annual and Special Meeting of Shareholders

Rhea-AI Summary

Clip Money announced the results from its Annual and Special Meeting of Shareholders held on June 24, 2024. All five nominees for the board of directors were elected, each receiving over 96% of the total votes. Joseph Arrage and Jeff Gibson led with 98.88% of votes. The resolution to appoint MNP LLP as auditors passed with 98.93%. The Omnibus Equity Incentive Plan was approved with 98.79% of votes. Additionally, the special resolution to continue the company under Ontario’s laws passed with 98.07%. Full voting results are available on SEDAR+.

Positive

• All board nominees received over 96% votes in favor.
• 98.93% approval for MNP LLP as auditors.
• 98.79% approval for the Omnibus Equity Incentive Plan.
• 98.07% approval for the company's legal continuance to Ontario.

Negative

• None.

TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip” or “Company”) (TSXV:CLIP) (OTCQB:CLPMF), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the results of voting at its annual and special meeting of shareholders held on June 24, 2024 (the “Meeting”).

Each of the five nominees listed in the management information circular dated May 10, 2024 (the “Circular”) prepared in connection with the Meeting were elected as directors of the Company. The Company received proxies and virtual votes at the Meeting as set out below:

Nominee	Votes For	% of Votes For	Votes Against	% of Votes Against
Joseph Arrage	58,268,436	98.88%	660,977	1.12%
Stuart Mackinnon	57,133,643	96.95%	1,795,770	3.05%
Peter Dorsman	57,020,193	96.76%	1,909,220	3.24%
Jeff Gibson	58,268,436	98.88%	660,977	1.12%
John Desmond	57,020,193	96.76%	1,909,220	3.24%

The ordinary resolution approving the appointment of MNP LLP as the Company’s auditors until the close of the next annual meeting of the Shareholders or until its successor is appointed, was passed by 98.93% of the votes represented at the Meeting.

Furthermore, the ordinary resolution re-approving the Company’s Omnibus Equity Incentive Plan, as described in the Circular, was passed by 98.79% of the votes represented at the Meeting.

Finally, the special resolution approving the continuance of the Company from a corporation organized under the laws of the Canada Business Corporations Act to a corporation organized under the laws of the Business Corporations Act (Ontario), was passed by 98.07% of the votes represented at the Meeting. The Company intends to file applications with the corporate registrars of the Canadian and Ontario ministries to effect the continuance in the third quarter.

Details of the voting results on all matters considered at the Meeting are available in the Company’s report of voting results, which is available under Clip Money’s profile on SEDAR+ at www.sedarplus.ca.

About Clip Money Inc.

Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions. Combined with mobile user applications, Clip Money offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.

For further information, please contact:

Joseph Arrage
Chief Executive Officer
tel: 844-593-2547

FAQ

What were the results of Clip Money's Annual and Special Meeting held on June 24, 2024?

All five board nominees were elected with over 96% votes. The appointment of MNP LLP as auditors and the Omnibus Equity Incentive Plan were approved with over 98% votes. The legal continuance to Ontario was also approved with 98.07% votes.

Who received the highest vote percentage at Clip Money's shareholder meeting?

Joseph Arrage and Jeff Gibson both received the highest vote percentage with 98.88% at Clip Money's shareholder meeting.

What percentage of votes approved MNP LLP as Clip Money's auditors?

MNP LLP was approved as Clip Money's auditors with 98.93% of the votes at the shareholder meeting.

What is the stock symbol for Clip Money?

The stock symbol for Clip Money is CLPMF.

What resolution was passed regarding Clip Money's legal continuance?

The resolution to continue Clip Money under Ontario’s laws was passed with 98.07% votes at the shareholder meeting.