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In particular, the overwhelming support in favor of all regular matters including re-electing the entire Board of Directorsand the special business of authorizing an amendment to ESG's Articles to authorize the issuance of Preferred Shares as detailed in the Management Information Circular dated
ESG's(Environmental, Social and Governance) core area of focus is on theagtech space and in particular creating proprietarysustainablefertilizers for both the conventional and organic markets. The
Therefore, ESG recently incorporated a new subsidiary,named Soilgenic NutrientsInc. Our objective is to pursue theagtech space with solutions to contribute to sustainable farming practices on a global basis, while helping to reduce agriculture's impact on climate change.Themanagement of Soilgenichas significant industry experience and relationships and has had advanced discussions on the development, sales and distribution of sustainableand organicfertilizers. Soilgenic is establishing business goals, marketing plans, revenue targets and industry partnerships for the next fiscal year, beginning September 1st. The objective is to create an organizational structure that ensures this revenue generation strategy can be successfully implemented.
Prior to theannualand special shareholders' meeting, Management worked with IFRS Accountants to ensurethe terms ofthe initial two series ofpreferredshares willpermit us to award equity rights, opposed to a financial liability. This key difference will allow ESG to acquire complimentary assets, while improvingitscorporate balance sheet. Theshareholders approvedESG's abilityto issuepreferredsharesin series, on such terms and conditions as the Board of Directors may determine from time to time.
Management is actively evaluating two potential arms-length acquisition transactions, which remain subject to further negotiation and regulatory approval. There is no assurance either transaction will occur, but Management is attempting to complete both these transactions prior to
In summary, we would like to report thatESG shareholders voted overwhelmingly in favor of all items of routinebusiness, inaddition to the special business authorizing an amendment to the Articles of ESGW to establish a Class of Preferred Shares as detailed in the Management Information Circular dated
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'THE EARTH DOES NOT BELONG TO HUMAN BEINGS; HUMAN BEINGS BELONG TO THE EARTH'
Neither the
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered"forward-looking statements". AlthoughESGbelieves the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forwardlooking statements include fluctuations in market prices, includingfertilizerprices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under applicable laws
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