Kivalliq Energy Announces Voting Results of AGM and Management Changes
VANCOUVER, BC--(Marketwired - July 06, 2017) - Kivalliq Energy Corporation (TSX VENTURE: KIV) ("Kivalliq" or the "Company") today announced the Annual General Meeting voting results and changes to executive leadership.
The Company is pleased to announce the voting results of its recent annual general meeting of shareholders ("AGM"), which was held on July 5, 2017. Shareholders approved the business items of setting the size of the Board at five, including the election of each director nominee. Detailed results of the vote for the election of directors are as follows:
| Nominee | # Voted For | % Voted For | # Votes Withheld | % Votes Withheld | ||||
| James Paterson | 19,663,485 | 99.75 | 50,200 | 0.25 | ||||
| James Dawson | 19,631,645 | 99.69 | 61,040 | 0.31 | ||||
| James Malone | 19,630,345 | 99.68 | 62,340 | 0.32 | ||||
| Garth Kirkham | 19,631,645 | 99.69 | 61,040 | 0.31 | ||||
| Dale Wallster | 19,631,645 | 99.69 | 61,040 | 0.31 |
Shareholders also approved the appointment of Davidson & Company LLP, as the auditors of the Company by 99.69% of votes for, while the stock option plan and resolution authorizing and the continuation of the Company's Rolling Stock Option Plan was approved by approximately 99.10%. The composition of the committees of the board of directors, all members being independent directors, are as follows:
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Audit: James Dawson (Chair), James Malone, Dale Wallster
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Compensation: Dale Wallster (Chair), James Malone, James Dawson
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Corporate Governance: Garth Kirkham (Chair), James Malone, James Dawson
Current director and CEO, Jim Paterson, has been appointed to the role of Chairman of Kivalliq's board of directors. John Robins, former Chairman and founder of the Company, did not stand for re-election but will remain a strong supporter of the Company and moving forward will be an Advisor to the Company.
Robert Scott, has been appointed as CFO, effective immediately. Mr. Scott, CPA, CA, CFA brings more than 20 years of professional experience in accounting, corporate finance, and merchant and commercial banking and has served on the management teams and boards of a number of Canadian publicly traded companies. He is a founder and president of Corex Management Inc., a private company providing accounting, administration, and corporate compliance services to privately held and publicly traded companies. Mr. Scott currently holds senior management and board positions with a number of TSX Venture Exchange Issuers including Riverside Resources Inc., Great Bear Resources Ltd. and Northern Empire Resources Corp.
"On behalf of Kivalliq's board of directors, we sincerely thank John Robins for his stewardship of the Company for the past decade. Going forward we count on John to continue to provide his significant industry insight and support, in an Advisory capacity, as we advance our current project holdings and look for new opportunities to reward our shareholders. We are also excited to have Rob Scott join our team and play an active role in Kivalliq's future success."