MONTRÉAL, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Prime Drink Group Corp. ("Prime" or the "Company") (CSE: PRME) is pleased to announce the results of its annual general and special meeting of shareholders (the "Meeting"), which was held yesterday in Montréal. Shareholders holding 61,267,500 shares, or 42.37% of the Company's issued and outstanding shares were present or represented by proxy at the Meeting.
Approval of Acquisition of Triani Canada Inc.
The resolution regarding the acquisition (the "Transaction") of Triani Canada Inc. ("Triani") was approved by a majority of shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| 61,061,132 | 100.00% | 2,531 | 0.00% |
"We are extremely proud to have received such an overwhelming response from our shareholders in favor of the Triani acquisition, marking a significant milestone in Prime's history. We are eager to begin this exciting new chapter and create sustainable value for our shareholders," said Raimondo Messina, Chairman of the Board of Prime.
Election of Directors
The six (6) nominees for directors were elected by a majority of shareholders. Votes cast at the Meeting were tabulated as follows:
| Nominee | Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| Alexandre Côté | 61,007,480 | 99.91% | 56,183 | 0.09% | |
| Robert Dunn | 61,056,330 | 99.99% | 7,333 | 0.01% | |
| Michael Pesner | 60,173,330 | 98.54% | 890,333 | 1.46% | |
| Germain Turpin | 61,007,405 | 99.91% | 56,258 | 0.09% | |
| Dominique Primeau | 61,061,230 | 100.00% | 2,433 | 0.00% | |
| Raimondo Messina | 61,061,155 | 100.00% | 2,508 | 0.00% |
Appointment of Auditors
MNP LLP, chartered professional accountants, were appointed as auditors of the Company by a majority of shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes withheld (#) | Votes withheld (%) | |
| 61,211,752 | 99.91% | 55,748 | 0.09% |
Approval of Number of Directors
The resolution to fix the number of directors of the Company to six was approved by a majority of shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| 61,206,379 | 99.90% | 61,121 | 0.10% |
Approval of Name Change
The resolution regarding the Company's name change to Prime Capital Investments Inc., or such other similar name as agreed upon by the Company and Triani, was approved by a special resolution of shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| 61,210,554 | 99.91% | 56,946 | 0.09% |
Approval of Conversion of Convertible Debentures
The resolution regarding the automatic conversion of the principal amount outstanding of the convertible debentures at a price of $0.10 per share was approved by a majority of disinterested shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| 61,055,684 | 99.99% | 7,979 | 0.01% |
Approval of Omnibus Incentive Plan
The resolution regarding the Company's omnibus incentive plan was approved by a majority of shareholders. Votes cast at the Meeting were tabulated as follows:
| Votes for (#) | Votes for (%) | Votes against (#) | Votes against (%) | |
| 61,007,382 | 99.91% | 56,281 | 0.09% |
For further details regarding the Transaction or the matters voted at the Meeting, see the management information circulate of the Company dated July 31, 2024, available on the Company's SEDAR+ profile at www.sedarplus.ca.
About Prime Drink Group
Prime Drink Group Corp. (CSE: PRME) is a Québec-based corporation that aims to become a leading diversified beverage holding company. The Company currently owns more than 3.4 billion litres of Québec's fresh groundwater reserves volume under permit and is strategically positioned to increase its holding. Under its new leadership team, the Company will seek to acquire, integrate and grow beverage businesses in diversified sectors, with a focus on sustainable growth.
For further information, please contact:
Jean Gosselin
Phone: (514) 394-7717
Email: info@prime-group.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, statements relating to: the completion of the Transaction and the creation of sustainable shareholder value.
These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the beverage industry, the Transaction is completed as currently contemplated, all regulatory approvals are received for the Transaction, market conditions, general economic factors, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of Prime may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Prime believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Prime disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
