Kadestone Capital Corp. Reports Results of Annual General Meeting

Rhea-AI Summary

Kadestone Capital Corp. (TSXV: KDSX, OTCQB: KDCCF), a vertically integrated property company, has announced the results of its annual general meeting held on July 11, 2024, in Vancouver, BC.

At the meeting, shareholders elected Brent Billey, Anthony Holler, David Negrin, Norm Mayr, and Kent Sillars to the board of directors until the next annual meeting or until their successors are elected or appointed. Additionally, shareholders approved the re-appointment of KPMG LLP as auditors and the company's existing stock option plan.

Positive

• Shareholders elected experienced board members, which could provide stability and strategic direction.
• Approval of KPMG LLP as auditors ensures continuity in financial oversight.
• Re-approval of the stock option plan could incentivize and retain key employees, aligning their interests with those of shareholders.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - July 11, 2024) - Kadestone Capital Corp. (TSXV: KDSX) (OTCQB: KDCCF) ("Kadestone" or the "Company"), a vertically integrated property company, is pleased to announce the results of the votes on matters considered at its annual general meeting of shareholders of the Company ("Shareholders") held on July 11, 2024 in Vancouver, British Columbia (the "Meeting").

At the Meeting, the Shareholders elected to the board of directors, by ordinary resolution, Brent Billey, Anthony Holler, David Negrin, Norm Mayr and Kent Sillars, to serve in office until the next annual meeting of Shareholders or until their successors are duly elected or appointed.

In addition, at the Meeting, the Shareholders approved: (i) the re-appointment of KPMG LLP as auditors of the Company; and (ii) the Company's existing stock option plan.

About Kadestone

Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing properties within major urban centres and high-growth, emerging markets in Canada. The Company operates complementary business lines spanning development and construction, construction finance, asset ownership and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.

For further information please contact David Negus, CFO, Kadestone Capital Corp., dnegus@kadestone.com 604-671-8142

ON BEHALF OF THE BOARD

(signed) "Brent Billey"

President, CEO and Director

Neither 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 Statements

Certain information in this press release, including, but not limited to, the Company's vision to become a leading vertically integrated property company, may constitute forward-looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not rely on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone's filings with the Canadian securities regulators available at www.sedarplus.ca. These risks include those described in the "Risk Factors" section of the Company's final prospectus dated September 2, 2020, and in the Management's Discussion and Analysis for the years ended December 31, 2023 and 2022. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216217

FAQ

What were the results of Kadestone Capital Corp's annual general meeting on July 11, 2024?

Shareholders elected Brent Billey, Anthony Holler, David Negrin, Norm Mayr, and Kent Sillars to the board of directors. KPMG LLP was re-appointed as auditors, and the existing stock option plan was approved.

Who was elected to Kadestone Capital Corp's board of directors during the 2024 annual general meeting?

Brent Billey, Anthony Holler, David Negrin, Norm Mayr, and Kent Sillars were elected to the board of directors.

Did Kadestone Capital Corp approve its stock option plan in the 2024 annual general meeting?

Yes, the existing stock option plan was approved by the shareholders.

Who are the auditors for Kadestone Capital Corp as of the 2024 annual general meeting?

KPMG LLP was re-appointed as the auditors for Kadestone Capital Corp.