ROBIX ENVIRONMENTAL TECHNOLOGIES, INC. In particular, the shareholders of Robix approved the following resolutions at the meeting: 1) fixing the number of directors of the Corporation at five (5); 2) re-appointing Mark Bentsen and Dale Oleksyn as directors of the Corporation; 3) removing Robin Ray and Josh MacNevin as directors of the Corporation; and 4) the election of James Tworek, Joseph Korec, and Aziz Khadem as new directors of the Corporation.
In addition, as a result of certain matters being disputed by the previous Board of Directors of Robix, and as a result of an Application brought by Robin Ray, a former director of Robix, and opposed at the time by two other directors of Robix, the Court of Queen's Bench of Alberta granted an interim order (the "Order") effective June 1, 2018 which stipulated that:
1) As of June 1, 2018, Peter Teunissen, Chief Financial Officer of Robix, was appointed as manager of Robix on an interim basis until the Application brought by Robin Ray is resolved. Mr. Ray's Application is scheduled to be heard on February 6, 2019; and
2) Mr. Teunissen shall regularly report to the Board of Directors respecting management of the business and affairs of Robix, including but not limited to reporting on any instructions given to legal counsel for Robix, including providing details of any transactions, and providing bi-annual financial reporting respecting any costs from Mr. Teunissen's management duties.
The Order also initially contained a stipulation that the Board of Directors not be changed at any shareholder meeting of the Corporation until the Application brought by Mr. Ray has been dealt with in a Special Chambers hearing (presently scheduled for February 6, 2019). However, this aspect of the Order was overturned by the Alberta Court of Appeal on October 11, 2018, with the result that the Corporation was no longer barred from considering changes to its Board of Directors at any shareholder meeting.
The Corporation will provide a further update to shareholders on its operations following the initial strategy meetings of its new Board of Directors.
About Robix:
The Corporation is an "industrial products/technology" company, which has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry, and it proposes to develop a business model as a service provider, and/or equipment provider under licensing agreements with other industry participants, wherein Robix will use its existing unique technology and design solutions.
Any inquiries related to the above, should be directed to Mr. Teunissen at:
Robix Environmental Technologies, Inc.
Peter Teunissen
Chief Financial Officer
peter@t-ca.ca
(403) 480-4020
Caution Regarding Forward-Looking Statements
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties, including the inability to predict the results of ongoing litigation. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42608
