UrtheCast Corp. Announces Results of Annual General and Special Meeting of Shareholders


VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- UrtheCast Corp. (TSX:UR) ("UrtheCast" or the "Company”) today reported that all resolutions put forward at the Company’s annual general and special meeting of shareholders (the "Meeting") held today were passed with strong support from shareholders.

Based on proxies received in advance and voted at the Meeting, 44,081,427 common shares of the Company, representing 36.3% of the Company’s issued and outstanding common shares as at the record date were voted. This is an increase from 22% of issued and outstanding common shares voted at last year’s annual meeting.

All management nominees listed in the Company’s Management Information Circular dated May 30, 2018 were elected as directors of the Company until the next annual meeting of shareholders. The results are set out below.

Director NomineeVotes ForVotes withheldPercentage ForPercentage withheld
William M. Evans30,982,83210,121,80975.38%24.62%
James Topham30,988,33210,116,30975.39%24.61%
Mark J. Piegza35,445,2355,659,40686.23%13.77%
Adam M. Vore35,457,2355,647,40686.26%13.74%
John (Jack) Shannon34,290,4166,814,22583.42%16.58%
Andreas M. Georghiou34,292,4166,812,22583.43%16.57%

At the Meeting the resolution was also passed to amend General By-law No. 1 of the Company to increase the number of permitted directors who are not Canadian residents to 75% in accordance with the residency requirements of the Business Corporations Act (Ontario). In addition, PricewaterhouseCoopers LLP, Chartered Professional Accountants, was appointed as auditor of the Company.

ItemVotes ForVotes against / withheldPercentage ForPercentage against / withheld
Amend General By-law No. 134,388,1266,716,51583.66%16.34%
Appointment of Auditors41,627,2452,439,38294.46%5.54%

Final voting results on all matters voted on at the Meeting will be filed on SEDAR (www.sedar.com). 

About UrtheCast

UrtheCast Corp. is a Vancouver-based technology company that serves the rapidly evolving geospatial and geoanalytics markets with a wide range of information-rich products and services. The Company operates Earth Observation (EO) sensors in space, through its subsidiary Deimos Imaging, S.L.U., including two satellites, Deimos-1 and Deimos-2, to produce imagery data for partners and customers in multiple markets. UrtheCast processes and distributes imagery data and value-added products on behalf of the PanGeo Alliance, a network of seven satellite operators with a combined 13 medium- and high-resolution EO sensors. UrtheCast is developing a satellite constellation designed to capture high-quality, medium resolution optical imagery of the Earth's entire landmass (excluding Antarctica) every day, called UrtheDaily™. UrtheCast is also developing the world's first fully-integrated constellation of sixteen multispectral optical and SAR satellites, called OptiSAR™. Common shares of UrtheCast trade on the Toronto Stock Exchange as ticker "UR".

For more information, visit UrtheCast's website at www.urthecast.com.

Forward Looking Information

This release contains certain information which, as presented, constitutes "forward-looking information" or "forward-oriented financial information" within the meaning of applicable Canadian securities laws. Forward-looking information involves statements that relate to future events and often addresses expected future business and financial performance, containing words such as "anticipate", "plan", "explore" and "expect", statements that an action or event "may", "should" or "will" be taken or occur, or other similar expressions. Such statements reflect UrtheCast's current views with respect to future events. Such statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by UrtheCast as at the date of this press release, are inherently subject to significant uncertainties and contingencies. Many factors could cause UrtheCast's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements; as well as those factors and assumptions discussed in UrtheCast's annual information form dated April 2, 2018, which is available under UrtheCast's SEDAR profile at www.sedar.com. UrtheCast cautions readers that such factors and uncertainties are not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions prove incorrect, actual results, performance or achievements may vary significantly from those expected. There can be no assurance that the actual strategies, results, performance, events or activities anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company.

UrtheCast undertakes no obligation to update forward-looking statements except as required by Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements.

For further information, please contact:

Sai Chu
Chief Financial Officer
UrtheCast Corp.
+1 (604) 669-1788