BURNABY, BC, March 24, 2016 /CNW/ - IWG Technologies,
Inc. ("IWG" or the "Company") today announced the results of
matters voted on at its Annual General Meeting held March 23, 2016 (the "Meeting"). Details of the
matters put forth were set out in the notice of meeting and
management information circular dated January 6, 2016 (the "Circular").
The total number of common shares represented in person or by
proxy at the meeting was 18.1 million shares, representing 46% of
the Company's outstanding common shares.
At the Meeting, the shareholders approved:
- the re-election as directors of the Company of all of the
nominees listed in the Circular; and
- the re-appointment of KPMG LLP as the Company's auditors.
The resolution related to the approval of a new stock option
plan by the Company was not approved and, accordingly, the
Company's current stock option plan will remain in effect.
In addition, the resolution relating to the ratification and
approval of the Company's advance notice policy was not approved.
Accordingly, the Company's advance notice policy terminated as of
the conclusion of the Meeting.
IWG Technologies, Inc. is the public holding company for
International Water-Guard Industries Inc., a Canadian aerospace
company focused on aircraft potable water treatment, water systems,
water heaters and components. IWG has expertise in all aspects of
water treatment, has the products and know-how to provide high
quality water for passengers and crew, and lightweight,
space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
IWG Technologies, Inc.
"Bruce W. Gowan"
Chair of the Board
This news release contains certain forward-looking statements
that reflect the current views and/ or expectations of IWG with
respect to its performance, business and future events including
statements with respect to completion of proposed or future
transactions. Such statements are subject to a number of risks,
uncertainties and assumptions, which may cause actual results to be
materially different from those expressed or implied. IWG assumes
no future obligation to update these forward looking statements
except as required by applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved
of the contents of this press release. 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 press
release.
TSX VENTURE: IWG
SOURCE IWG Technologies Inc.