/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
*Shareholders urged to vote in advance of
proxy voting deadline of 10:30 a.m.
(Vancouver Time), Thursday, June 21,
2018
VANCOUVER, June 12, 2018 /CNW/ - UrtheCast Corp. (TSX:
UR) ("UrtheCast" or the "Company") announces that
leading independent proxy advisory firms Institutional Shareholder
Services Inc. ("ISS") and Glass Lewis & Co. ("Glass
Lewis") have recommended that UrtheCast shareholders vote FOR
all director nominees and resolutions, including the amendment of
the Company's General By-law No. 1.
ISS and Glass Lewis are leading independent international
corporate governance analysis and proxy voting firms, whose
recommendations guide institutional shareholders in making
proxy-voting decisions.
Shareholders are urged to vote as soon as possible and ensure
that their proxy is received in advance of the proxy-voting
deadline of 10:30 a.m. (Vancouver time) on Thursday, June 21, 2018. The Company's annual
general and special meeting of shareholders (the "Meeting")
is scheduled to be held on June 25,
2018.
In support of UrtheCast's amendment to General By-law No. 1,
increasing the number of permitted directors who are not Canadian
residents to 75%, Glass Lewis states in its report:
"Glass Lewis generally supports changes made to a Company's
by-laws intended to reflect new legislation or regulatory
requirements. In this case, the new by-law is intended to align the
Company's articles of association in line with recent amendments
made to the Business Corporations Act (Ontario). Having reviewed the changes, we do
not believe that there are substantial issues for shareholder
concern."
In its report recommending that subscribers vote FOR UrtheCast's
director nominees, ISS states:
"Vote FOR all proposed nominees as no significant concerns
have been identified at this time."
The Company encourages all UrtheCast shareholders to read the
Company's management information circular, which was mailed to
shareholders of record as of May 8,
2018 and is available at www.urthecast.com and under the
Company's profile at www.sedar.com. The management information
circular contains detailed information about the director nominees
and the amendment of General By-law No. 1.
The Board of Directors of UrtheCast recommends that shareholders
vote FOR all director nominees and "FOR" the amendment of General
By-law No. 1 at the Meeting. Shareholders are reminded to vote
before the proxy-voting deadline of 10:30
a.m. (Vancouver time) on
Thursday, June 21, 2018.
The Company has engaged the services of Laurel Hill Advisory
Group as its proxy solicitation and agent. If you have any
questions or require assistance with voting your shares, please
call our proxy solicitation agent, Laurel Hill Advisory Group toll
free at 1-877-452-7184 (1-416-304-0211 outside North America) or by e-mail at
assistance@laurelhill.com
About UrtheCast
UrtheCast Corp. is a Vancouver-based technology company that serves
the rapidly evolving geospatial and geoanalytics markets with a
wide range of information-rich products and services. The Company
operates Earth Observation (EO) sensors in space, through its
subsidiary Deimos Imaging, S.L.U., including two satellites,
Deimos-1 and Deimos-2, to produce imagery data for partners and
customers in multiple markets. UrtheCast processes and distributes
imagery data and value-added products on behalf of the PanGeo
Alliance, a network of seven satellite operators with a combined 13
medium- and high-resolution EO sensors. UrtheCast is developing a
satellite constellation designed to capture high-quality, medium
resolution optical imagery of the Earth's entire landmass
(excluding Antarctica) every day,
called UrtheDaily™. UrtheCast is also developing the world's first
fully-integrated constellation of sixteen multispectral optical and
SAR satellites, called OptiSAR™. Common shares of UrtheCast trade
on the Toronto Stock Exchange as ticker "UR".
For more information, visit UrtheCast's website at
www.urthecast.com.
Forward Looking Information
This release contains certain information which, as presented,
constitutes "forward-looking information" or "forward-oriented
financial information" within the meaning of applicable Canadian
securities laws. Forward-looking information involves statements
that relate to future events and often addresses expected future
business and financial performance, containing words such as
"anticipate", "plan", "explore" and "expect", statements that an
action or event "may", "should" or "will" be taken or occur, or
other similar expressions. Such statements reflect UrtheCast's
current views with respect to future events. Such statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by UrtheCast as at the date of this
press release, are inherently subject to significant uncertainties
and contingencies. Many factors could cause UrtheCast's actual
results, performance or achievements to be materially different
from any future results, performance or achievements that may be
expressed or implied by such forward-looking statements; as well as
those factors and assumptions discussed in UrtheCast's annual
information form dated April 2, 2018,
which is available under UrtheCast's SEDAR profile at
www.sedar.com. UrtheCast cautions readers that such factors and
uncertainties are not exhaustive and that should certain risks or
uncertainties materialize, or should underlying estimates or
assumptions prove incorrect, actual results, performance or
achievements may vary significantly from those expected. There can
be no assurance that the actual strategies, results, performance,
events or activities anticipated by the Company will be realized
or, even if substantially realized, that they will have the
expected consequences to, or effects on, the Company.
UrtheCast undertakes no obligation to update forward-looking
statements except as required by Canadian securities laws. Readers
are cautioned against attributing undue certainty to
forward-looking statements.
SOURCE UrtheCast Corp.