Tactical Resources Corp. New Form Articles and Omnibus Plan Receives Shareholder Approval at September 7, 2022 Annual General and Special Meeting

Rhea-AI Summary

Tactical Resources Corp (CSE: RARE) (OTC: USREF) announced key developments from its September 7, 2022 Annual General and Special Meeting. Shareholders approved updated Articles under the Business Corporations Act for advance notice in director elections, enhancing meeting efficiency and shareholder information. Additionally, a 20% rolling Omnibus Plan was approved, allowing the Company to grant stock options and restricted share units to directors, officers, and consultants. Full details are accessible via SEDAR.

Positive

• Approval of advance notice provisions for director nominations enhances shareholder involvement.
• Implementation of a 20% Omnibus Plan allows for stock options and share units, potentially improving retention and motivation of key personnel.

Negative

• None.

VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Tactical Resources Corp. (CSE: RARE) (OTC: USREF) (“Tactical Resources” or the “Company”) announces that at the Company’s September 7, 2022 Annual General and Special Meeting (the “Meeting”), Shareholders of the Company approved new Business Corporations Act (British Columbia) Articles of the Company, to include advance notice relating to the nomination of individuals for election of directors. The advance notice provisions are designed to: (i) facilitate orderly and efficient shareholder meetings at which directors are to be elected; (ii) ensure that all shareholders, including those participating in a shareholders’ meeting by proxy rather than in person, receive adequate notice of all director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote provisions.

A complete copy of the Company’s new Articles will be available for viewing under the Company’s SEDAR corporate website at www.sedar.com.

Omnibus Plan

The Company also announces that it received shareholder approval at the Company’s September 7, 2022 annual general and special meeting, to the Company’s 20% rolling Omnibus Plan pursuant to which the Company may grant stock options and restricted share units to the Company’s directors, officers, employees, and consultants.

Details to the Omnibus Plan is contained in the information circular filed on SEDAR in respect of the September 7, 2022 annual general meeting.

A complete copy of the Omnibus Plan will be available for viewing under the Company's SEDAR corporate profile at www.sedar.com.

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Ranjeet Sundher
Chief Executive Officer & Director
Tactical Resources Corp.
www.tacticalresources.com

FAQ

What was the outcome of Tactical Resources Corp's September 7, 2022 meeting?

Shareholders approved new Articles for advance notice of director nominations and a 20% Omnibus Plan.

How does the advance notice provision impact Tactical Resources Corp?

It aims to facilitate orderly and efficient shareholder meetings and ensures adequate notice for all director nominees.

What is included in Tactical Resources Corp's Omnibus Plan?

The plan allows granting of stock options and restricted share units to directors, officers, and employees.

Where can I find more information about Tactical Resources Corp's new Articles and Omnibus Plan?

Details are available on the Company's SEDAR corporate profile.

What is the stock symbol for Tactical Resources Corp?

The stock symbol for Tactical Resources Corp is USREF.