Edmonton, Alberta – TheNewswire – June 20, 2023 – Yorkton Equity Group Inc. (“Yorkton” or the “Company”) (TSXV: YEG) announces that the Company held its Annual General and Special Meeting (the “Meeting”) for the fiscal year ended December 31, 2022. A total of 86,124,963 common shares were voted at the Meeting representing 76.45% of the issued and outstanding shares of the Company as at the record date. All matters to be acted upon, as set out in the Company’s Notice of Annual General and Special Meeting and Management Information Circular dated May 8, 2023, were approved by shareholders at the Meeting.
The Company’s shareholders voted to:
- fix the number of directors at four;
- elect Messrs. Ben Lui, Bill Smith, Mark Wilbert, and Jason Theiss as directors of the Company for the ensuing year;
- appoint Kenway Mack Slusarchuk Stewart LLP, Chartered Professional Accountants, as the Company’s auditors for the ensuing year; and
- re-approve the Company’s 10% rolling stock option plan, as further described in the Notice of Annual General and Special Meeting and Management Information Circular dated May 8, 2023.
Disinterested shareholders also voted to approve the Company’s omnibus security-based compensation plan, which includes a 10% rolling stock option plan with cashless and net exercise provisions together with a 10% fixed equity compensation plan (other than stock options), as further described in the Notice of Annual General and Special Meeting and Management Information Circular dated May 8, 2023, subject to the acceptance of the TSX Venture Exchange.
After the meeting, shareholders were given a presentation on current real estate market conditions and the Company’s business model and recent property acquisitions.
Mr. Ben Lui, President and CEO of Yorkton remarked that, “We are delighted to announce the resounding success of our Annual General and Special Meeting. This event showcased the exceptional progress we have made, fueled by rapid growth and strategic investments. We appreciate the support demonstrated by our shareholders and would like to thank all the shareholders for their participation at the meeting.“
About Yorkton
Yorkton Equity Group Inc. is a growth-oriented real estate investment company committed to providing shareholders with growing assets through accretive acquisitions, organic growth, and the active management of multi-family rental properties with significant upside potential. Our current geographical focus is markets in Alberta and British Columbia with diversified and growing economies, and strong population in-migration. Our business objectives are to achieve growing Net Operating Income (“NOI”) as well as the asset values in our multi-family rental property portfolio in strategic markets across Western Canada.
The management team at Yorkton Equity Group Inc. has well over 30 years of real estate experience in acquiring and managing rental assets.
Further information about Yorkton is available on the Company’s website at www.yorktonequitygroup.com and the SEDAR website at www.sedar.com.
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.
For further information on Yorkton, please contact:
Ben Lui, CEO – Corporate Office: (780) 409-8228
Yorkton Equity Group Inc. – Shareholder Communications: (780) 907-5263
Email: investors@yorktongroup.com
Forward-looking information
This press release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of Yorkton. Forward-looking information is based on certain key expectations and assumptions made by the management of Yorkton. Although Yorkton believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Yorkton can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Yorkton disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirement.