VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/18/16 -- Strategem Capital Corporation ("Strategem" or the "Company") (TSX VENTURE: SGE) announces the results of the vote regarding the delisting of the Class A Common Shares of the Company (the "Shares") from the TSX Venture Exchange (the "Delisting") held at the Special Meeting of Shareholders on January 18, 2016. 71.51% of voted shares were against the Delisting. Detailed results can be found below.
"We have heard from the minority shareholders that their preference is to remain listed. We will continue to look for ways to contain costs while we wait for the results of the Company's tax litigation," said Kenneth Morgan, CEO of Strategem.
The substantial issuer bid that commenced on December 18, 2015 (the "SIB") remains unchanged and expires on January 29, 2016. The SIB provides an increased degree of liquidity in the market by providing the Company's shareholders an opportunity to realize an immediate cash return for all or a portion of their investments in the Company.
Results of the Resolution to Approve the Delisting:
According to proxies received and vote by show of hands, the ordinary resolution approving the Delisting (the "Delisting Resolution") was not passed. Under the TSX Venture Exchange policy, the votes of Kenneth Morgan, Michael Katz and Winnie Wong were not considered for the Delisting Resolution.
Vote For: % Vote Against %
580,264 28.49% 1,456,424 71.51
Overall Result of the Meeting:
Total Shares Voted: 2,036,688
Total Shares Issued and Outstanding: 4,963,556
Total Percentage of Shares Voted: 41.03%
The formal report on voting results with respect to all matters voted upon at the Meeting will also be filed on System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com.
About Strategem Capital Corporation
Strategem is a publicly-traded merchant bank involved in acquiring interests in and developing companies with growth potential. The Company takes early debt and/or equity positions in such growth companies. The Company's focus is on companies that explore or develop natural resources.
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 release.
Contacts:
Strategem Capital Corporation
Kenneth Morgan
President and Chief Executive Officer
Tel: 604-692-0073
604-692-0074 (FAX)
info@strategemcapital.com
Strategem Capital Corporation
Suite 410, 325 Howe Street
Vancouver, BC
V6C 1Z7
