Exro Announces Voting Results at 2024 Annual General Meeting

Rhea-AI Summary

On June 28, 2024, Exro Technologies (TSX: EXRO, OTCQB: EXROF) announced the results of its 2024 Annual General Meeting held in Mesa, Arizona. All candidates listed in the Management Information Circular dated May 21, 2024, were elected as directors. Key directors include Sue Ozdemir, Aleksandra Miziolek, Frank Simpkins, Rodney Copes, John Macleod, Anthony Fairweather, and Nancy Lee Gioia. The number of directors was set at seven, and the auditors were appointed with a high approval rate. A total of 169,778,669 shares were voted, representing 48.762% of Exro's outstanding common shares. Detailed voting results are filed on SEDAR+.

Positive

• All director candidates were elected with high approval rates, e.g., Aleksandra Miziolek at 99.286% and Sue Ozdemir at 98.317%.
• Approval of all shareholder matters, including setting the number of directors at seven and the appointment of auditors.

Negative

• Only 48.762% of outstanding shares were voted, representing less than half of Exro's issued shares.
• Frank Simpkins received a relatively lower approval rate of 86.439% with 13.561% voting withheld.

CALGARY, AB, June 28, 2024 /PRNewswire/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean-technology company that provides proprietary propulsion system technology for e-mobility and proprietary battery control technology for stationary energy storage, today announced that all candidates listed in the Company's Management Information Circular, dated May 21, 2024, were elected as directors of the Company at its Annual General Meeting of Shareholders (the "Meeting") held earlier today in Mesa, Arizona.

Name	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Sue Ozdemir	151,681,665	98.317	2,596,987	1.683
Aleksandra Miziolek	153,176,902	99.286	1,101,750	0.714
Frank Simpkins	133,356,184	86.439	20,922,468	13.561
Rodney Copes	151,875,417	98.442	2,403,235	1.558
John Macleod	153,699,550	99.625	579,102	0.375
Anthony Fairweather	153,789,188	99.683	489,464	0.317
Nancy Lee Gioia	153,558,953	99.534	719,699	0.466

All other matters put forward to shareholders at the Meeting were also approved by the requisite majority of votes, including setting the number of directors at seven, and the appointment of the Company's auditors. At the Meeting, 169,778,669 shares were voted, representing 48.762% of the Company's issued and outstanding common shares. Detailed results of the vote for the election of directors are set out below and the results of all matters considered at the Meeting are filed on SEDAR+ at www.sedarplus.ca.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, which could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2023, and financial statements and related MD&A for the financial year ended December 31, 2023, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedarplus.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

FAQ

What were the results of Exro Technologies' 2024 Annual General Meeting?

All director candidates were elected, and all shareholder matters were approved with a majority vote. Detailed results are available on SEDAR+.

Who were the directors elected at Exro Technologies' 2024 AGM?

The elected directors are Sue Ozdemir, Aleksandra Miziolek, Frank Simpkins, Rodney Copes, John Macleod, Anthony Fairweather, and Nancy Lee Gioia.

What percentage of shares were voted at Exro Technologies' 2024 AGM?

48.762% of Exro's issued and outstanding common shares were voted.

Were all shareholder matters approved at Exro Technologies' 2024 AGM?

Yes, all matters put forward to shareholders, including the appointment of auditors and setting the number of directors to seven, were approved.