Panorama Capital Corp. Reports Results of Annual and Special Shareholder Meeting and Management Update
Kelowna, B.C. – TheNewswire - May 4, 2021 - Panorama Capital Corp. (TSXV:PANO.P) (the “Company” or “Panorama”), a capital pool company (“CPC”) pursuant to Policy 2.4 (as amended effective January 1, 2021, the “CPC Policy”) of the TSX Venture Exchange (the “Exchange”), is pleased to announce that all matters submitted to shareholders for approval, as set out in detail in the Company’s management information circular (the “Circular”) dated March 30, 2021, were approved at the annual and special meeting of shareholders of the Company held on May 3, 2021 (the “Meeting”).
Among other things, and in accordance with the CPC Policy, disinterested shareholders of the Company voted in favor of: (i) certain amendments to the Company’s stock option plan; (ii) the removal of consequences associated with failing to complete a Qualifying Transaction (as defined in the CPC Policy) within 24 months of the Company’s listing date; and (iii) certain amendments to the Company’s escrow agreement, all as more particularly set forth in the Circular (collectively, the “Disinterested Shareholder Resolutions”).
Approval of the Disinterested Shareholder Resolutions was sought in order for the Company to align certain of its policies with changes to CPC Policy introduced by the Exchange on January 1, 2021. Each of the Disinterested Shareholder Resolutions was approved by the Company’s shareholders, excluding the votes held by Non-Arm’s Length Parties (as such term is defined in Exchange Policy 1.1) and holders of Seed Shares (as such term is defined in Exchange Policy 1.1).
Please refer to the Circular for further details with respect to the amendments associated with the new CPC Policy approved by shareholders.
Appointment of Audit Committee
The Company is also pleased to announce that it has reconstituted its audit committee to comprise Carson Sedun, Danny Matthews and Keith Inman.
Appointment of Officers
The Company announces that Carson Sedun has been appointed President and Chief Executive Officer of the Company. Panorama’s former President and CEO, Michael Thomson, has been appointed Vice President, Business Development and will also remain as the Company’s Corporate Secretary.
About Panorama Capital Corp.
Panorama is a capital pool company pursuant to Exchange Policy 2.4 that completed its initial public offering and obtained a listing on the Exchange in June 2019 (trading symbol: "PANO.P"). Panorama does not carry on any active business activity other than reviewing potential transactions that would qualify as Panorama's QT.
ON BEHALF OF THE BOARD OF DIRECTORS:
President & CEO, Director
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes the intention of the Company to seek disinterested shareholder approval for certain matters at its Meeting, its expectations that it will implement changes required to align with the Update CPC Policy assuming receipt of requisite approvals, and all other statements which are not historical in nature. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing, the volatility of the Company’s common share price and volume and reliance on key and qualified personnel. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the 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 press release.
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