IOU Financial Reports Results of its Annual Shareholders' Meeting

Rhea-AI Summary

IOU Financial Inc. held its Annual General and Special Meeting on June 10, 2021, where key decisions were made. Directors Robert Gloer, Philippe Marleau, Evan Price, Yves Roy, Lucas Timberlake, and Neil Wolfson were elected. PricewaterhouseCoopers LLP was reappointed as auditor, and the Company's rolling Stock Option Plan and Advance Notice By-Law were approved. Notably, Wayne Pommen did not seek re-election, with Chairman Evan Price acknowledging his service.

IOU Financial continues to provide access to growth capital for small businesses, having underwritten US$898 million in loans since 2009.

MONTREAL, June 10, 2021 /PRNewswire/ - IOU Financial Inc. ("IOU Financial" or the "Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), today reported the results of the Annual General and Special Meeting of Shareholders held on this date (the "Meeting").

At the Meeting, Robert Gloer, Philippe Marleau, Evan Price, Yves Roy, Lucas Timberlake and Neil Wolfson were elected as directors of the Company, PricewaterhouseCoopers LLP was reappointed as the Company's auditor for the ensuing year, the Company's rolling Stock Option Plan was reapproved and the Advance Notice By-Law was approved by the shareholders.

Wayne Pommen did not stand for re-election at the Meeting. "I would like to take this opportunity to express my gratitude to Wayne Pommen for his many years of fine service as a director of IOU Financial and in particular as Chair of the Audit Committee", said Evan Price, Chairman of the Board.

About IOU Financial Inc.

IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and Canada. Built on a proprietary technology platform that connects underwriters, merchants and brokers in real time, IOU Financial has become a trusted alternative to banks by underwriting US$898 million in loans to fund small business growth since 2009. To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.IOUFinancial.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View original content:http://www.prnewswire.com/news-releases/iou-financial-reports-results-of-its-annual-shareholders-meeting-301310488.html

SOURCE IOU Financial Inc.

FAQ

What were the key outcomes of the IOU Financial Annual General Meeting on June 10, 2021?

At the Annual General and Special Meeting on June 10, 2021, IOU Financial elected new directors, reappointed its auditor, and approved its Stock Option Plan and Advance Notice By-Law.

Who were elected as directors at the IOU Financial meeting?

Robert Gloer, Philippe Marleau, Evan Price, Yves Roy, Lucas Timberlake, and Neil Wolfson were elected as directors.

What financial milestone has IOU Financial achieved?

IOU Financial has underwritten US$898 million in loans to small businesses since its inception in 2009.

Did any directors step down during the IOU Financial Annual Meeting?

Yes, Wayne Pommen did not stand for re-election at the meeting.