Ionik Announces Voting Results from Its Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Ionik announced the results of its annual general and special meeting of shareholders held on July 11, 2024. All agenda items were approved, including the election of five directors and the appointment of MNP LLP as auditors with 99.983% votes in favor. The omnibus equity incentive plan was also passed by 99.979% votes, subject to TSXV approval. A special resolution to change the company's name to Ionik received 99.995% approval and is pending regulatory approval. Additionally, a resolution to consolidate common shares was approved by 85.543% votes, with the board authorized to determine the consolidation ratio within a specified range. Voting results are available on SEDAR+.

Positive

• All agenda items were approved by shareholders.
• Directors were elected with over 99.998% votes in favor.
• Appointment of MNP LLP as auditors was approved by 99.983% votes.
• Omnibus equity incentive plan passed with 99.979% votes.
• Special resolution to change the company name to Ionik received 99.995% approval.
• Share consolidation resolution approved by 85.543% votes, giving the board flexibility in the consolidation ratio.

Negative

• The share consolidation may affect shareholder equity, pending board decision.

Toronto, Ontario--(Newsfile Corp. - July 12, 2024) - PopReach Corporation (TSXV: INIK) (OTCQX: INIKF) (dba "Ionik", or the "Company"), a data-driven performance marketing technology company, is pleased to announce that all items of business were approved at its annual general and special meeting of shareholders held on July 11, 2024 (the "Meeting") in Waterloo, Ontario.

A total of 158,500,734 common shares were voted in connection with the Meeting, representing approximately 54.847% of the issued and outstanding common shares of the Company.

Each of the five nominees listed in the management information circular ("Circular") dated May 23, 2024 was elected as a director of Ionik for the ensuing year or until his or her successor is elected or appointed. Based on proxies received prior to the Meeting, votes were cast as follows:

Nominee	Votes For	% of Votes For	Votes Withheld	% of Votes Withheld
Ben Colabrese	157,513,781	99.998%	2,475	0.002%
Natasha De Masi	157,513,781	99.998%	2,475	0.002%
Ted Hastings	157,513,781	99.998%	2,475	0.002%
Ian Klugman	157,513,781	99.998%	2,475	0.002%
Mike Vorhaus	157,513,781	99.998%	2,475	0.002%

 

In addition, Ionik reports that an ordinary resolution approving the appointment of MNP LLP as the Company's auditors for the ensuing year and to authorize the directors to fix the auditor's remuneration was passed by 99.983% of the votes represented at the Meeting.

The ordinary resolution to approve and confirm the Company's omnibus equity incentive plan (the "Equity Incentive Plan"), previously approved by the shareholders of the Company, was passed by 99.979% of the votes represented at the Meeting. The Equity Incentive Plan remains subject to final approval of the TSX Venture Exchange ("TSXV").

The special resolution authorizing a change of the name of the Company to "Ionik Corporation" (the "Name Change") was passed by 99.995% of the votes represented at the Meeting. The implementation of the Name Change is expected to be completed in the coming weeks conditional on the Company receiving all necessary regulatory approvals, including approval of the TSXV. The Company will continue to update its shareholders as the Name Change progresses.

Further, the special resolution authorizing a consolidation of the issued and outstanding common shares of the Company (the "Consolidation") was passed by 85.543% of the votes represented at the Meeting. The special resolution of shareholders approving the Consolidation provides that the board of directors of the Company (the "Board") is authorized to determine the consolidation ratio within a range of between five (5) pre-consolidation common shares for one (1) post-consolidation common share and ten (10) pre-consolidation common shares for one (1) post-consolidation common share. Completion of the Consolidation will depend on certain factors and the Board has the discretion to determine whether or not to proceed with the Consolidation. Moreover, the implementation of the Consolidation is conditional on the Company receiving all necessary regulatory approvals, including approval of the TSXV.

Details of the voting results on all matters considered at the Meeting are available in the Company's report of voting results, which will be available under Company's profile on SEDAR+ at www.sedarplus.ca.

About Ionik

Ionik, a Tier 1 Issuer on the TSX Venture Exchange, with shares also trading on the OTCQX Best Market, is a data-driven performance marketing technology company focused on assembling the most effective and complete suite of advertising, marketing and monetization solutions for brands, advertisers and publishers while building an extensive proprietary repository of opted-in first party data.

Additional information about the Company is available at www.sedarplus.ca.

PopReach Corporation (dba Ionik)
Sean Peasgood
Investor Relations
(647) 777-7564
Sean@SophicCapital.com

Lois Norris
CFO
(416) 583-5918
invest@ionikgroup.com

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

Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements with respect to and the business, financials and operations of the Company. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedarplus.ca. 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. Investors are cautioned that undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

SOURCE PopReach Corporation (dba Ionik)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216313

FAQ

What was the outcome of Ionik's annual general and special meeting of shareholders on July 11, 2024?

All agenda items were approved, including the election of directors, appointment of auditors, and resolutions for a name change and share consolidation.

How many shares were voted at Ionik's annual general and special meeting?

A total of 158,500,734 common shares were voted, representing approximately 54.847% of the issued and outstanding common shares.

What percentage of votes approved the appointment of MNP LLP as Ionik's auditors?

The appointment of MNP LLP was approved by 99.983% of votes.

Did Ionik shareholders approve the omnibus equity incentive plan?

Yes, the omnibus equity incentive plan was approved by 99.979% of votes.

Was the resolution to change Ionik's name approved?

Yes, the resolution to change the company's name to Ionik was approved by 99.995% of votes.

What was the result of the vote on Ionik's share consolidation resolution?

The share consolidation resolution was approved by 85.543% of votes, with the board authorized to determine the consolidation ratio.