(TheNewswire)
Toronto – TheNewswire - July 15, 2022 – Flexwork Properties Ltd. (formerly Reliant Gold Corp.) - (CSE:RNG) (CNSX:RNG.CN) (the "Corporation" or "Flexwork") (CANADIAN SECURITIES EXCHANGE: RNG). Further to its news release dated June 8, 2022, the Corporation is pleased to announce the voting results of its virtual Special Meeting of Shareholders (the "Meeting") held on July 14, 2022.
A total of 9,886,447 common shares representing 36.20% of the Corporation’s 27,309,915 issued and outstanding common shares were voted in connection with the Meeting.
Each of the two special resolutions before the Meeting (being the RTO Resolution and the Consolidation Resolution), and as described in the Corporation’s June 10, 2022 Management Information Circular (the "Circular"), was approved by more than a two-thirds majority of the votes cast by the Shareholders of the Corporation. A copy of the Circular is available on www.sedar.com.
1. The RTO Resolution
At the Meeting, Shareholders of the Corporation (i) approved the March 15, 2021 Amalgamation Agreement and its amendments (the "Amalgamation Agreement"), entered into between the Corporation and Blockchain Venture Capital Inc. ("BVCI") and (ii) authorized the Corporation to carry out the proposed reverse takeover by way of an amalgamation between the Corporation and BVCI (the "RTO"). A copy of the Amalgamation Agreement is available on www.sedar.com. Additional details related to the RTO are provided in the Corporation’s news release dated June 8, 2022.
The votes for the RTO Resolution were cast as follows:
|
Votes For |
% of Votes For |
Votes Against |
% of Votes Against |
Total Votes Cast |
|
9,846,447 |
99.595% |
40,000 |
0.405% |
9,886,447 |
2. The Consolidation Resolution
At the Meeting, Shareholders authorized the Corporation to carry out - in connection with and immediately prior to the afore-mentioned RTO - a consolidation of the issued and outstanding common shares of the Corporation on the basis of a consolidation ratio of 1 post-Consolidation Flexwork share for between 18 and 20 pre-Consolidation shares (the "Consolidation"), or such other consolidation ratio as may be determined by the directors of the Corporation to achieve the 95% BVCI – 5% Flexwork Allocation of the Resulting Issuer Shares, as such terms are defined in the afore-mentioned Amalgamation Agreement.
The votes for the Consolidation Resolution were cast as follows:
|
Votes For |
% of Votes For |
Votes Against |
% of Votes Against |
Total Number of Votes Cast |
|
8,846,447 |
89.481% |
1,040,000 |
10.519% |
9,886,447 |
Subject to the receipt by BVCI of the approval of its shareholders for the afore-mentioned RTO, it is expected that the Corporation will proceed with the Consolidation immediately prior to completing the RTO. It is expected that the Consolidation will be effective on Wednesday, July 20, 2022 (being the “Record Date” for the Consolidation), or very soon thereafter.
The ISIN and CUSIP for the post-Consolidation common shares for Flexwork will change.
As of May 28, 2018, trading in the Corporation’s common shares have been subject to a voluntary trading halt at the request of management (the “Trading Halt”). It is expected that the Trading Halt will be lifted by the Investment Industry Regulatory Organization of Canada (“IIROC”) upon the completion of the Consolidation and RTO; the submission of all outstanding Canadian Securities Exchange (“CSE”) application documents and applicable fees by BVCI to the CSE; and the issuance by the CSE of its final approval for listing of the Resulting Issuer Shares on the CSE.
There can be no assurance that the CSE will grant its final approval for the listing of the Resulting Issuer Shares on the CSE.
FURTHER INFORMATION
Flexwork will issue further details regarding the above matters by way of subsequent news releases, if and when new material information becomes available.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release nor have they approved nor disapproved the content thereof.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Flexwork Properties Ltd. (Formerly “Reliant Gold Corp.”) (the “Corporation”) or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of the Corporation with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in the Corporation’s prospectus and in other continuous disclosure documents that are filed by the Corporation from time to time with the Ontario, Alberta or British Columbia Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning the Corporation, its prospects and the risks and uncertainties relating to the Corporation and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Corporation to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure investors that actual results will be consistent and investors should not place undue reliance on forward-looking statements as a prediction of actual results.
The forward-looking information contained in this press release is current only as of the date hereof. The Corporation does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
No securities commission or regulatory authority has approved or disapproved the contents of this press release.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Kabir Ahmed
Chairman, President, CEO and Director
Flexwork Properties Ltd. (Formerly “Reliant Gold Corp.”)
Email: kahmed@richmondcapital.ca
Tel: (416) 820-4107
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