Western Resources Reports AGM Results
May 08 2023 - 2:03PM
Western Resources Corp. (TSX: WRX) (“Western” or “the
Company”) is pleased to announce that its shareholders
approved all items put before them at the Company’s Annual General
Shareholder Meeting (“AGM”) held today, March 10, 2023. The
approved items are:
-
Fixed the number of directors of the Company at 7;
-
The election of Bill Xue, George Gao, Mark Fracchia, Justin Xing,
Guy Bentinck, Andrew Hancharyk and Scott Nagel to the Board. A
total of 328,893,991 common shares, representing 80.51% of the
outstanding common shares of the Company as at the record date,
were present in person or by proxy at the meeting. The approximate
number of those votes “For” each director, the approximate
"Percentage" of the total votes cast and the
"Withheld/Abstain" votes for each director are shown as
below:
Director |
For |
Withheld/Abstain |
Percentage |
Bill Xue |
290,562,409 |
281,780 |
99.90% |
George Gao |
290,563,629 |
280,560 |
99.90% |
Mark Fracchia |
290,647,637 |
196,552 |
99.93% |
Justin Xing |
290,649,317 |
194,872 |
99.93% |
Guy Bentinck |
290,646,287 |
197,902 |
99.93% |
Andrew Hancharyk |
290,648,837 |
195,352 |
99.93% |
Scott Nagel |
290,651,047 |
193,142 |
99.93% |
3. The re-appointment of MNP LLP as auditors
of the Company at a remuneration to be fixed by the directors, with
290,705,797 shares voted “For”, representing 99.95% of the
outstanding common shares of the Company and 138,392 shares voted
“Withheld”.
The new Board then re-elected Mr. Bill Xue as
Chairman of the Company, with Mr. Justin Xing as Chair of the
Executive Committee, Mr. Mark Fracchia as Chair of the Nominating
and Assessment Committee, Mr. Guy Bentinck as Chair of the Audit
Committee, Mr. Scott Nagel as Chair of the Compensation Committee
and Mr. Andrew Hancharyk as Chair of the Corporate Disclosure
Policy Committee. Mr. Shuai Wei and Mr. Owen Zhang are re-appointed
as Board Observers.
The Company welcomes Mr. Scott Nagel to
Western’s board. Mr. Nagel brings over 30 years of grain and
fertilizer experience to the Company. He was President of the ADM
Benson Quinn from 2008 until January this year when he retired. The
Board is confident that Mr. Nagel will play an important role in
helping the Company with its continued efforts in business
marketing, project financing and company strategy.
Western’s Chairman Bill Xue said, “I am very
pleased that we now have a very strong board in the Company’s
history. The addition of Mr. Nagel to our board improves the board
structure by adding additional depth, with the board members having
experience in one or more of strategic, financial, technical, legal
or corporate management. As the Milestone Project construction’s
expected completion is in May, and with the progression of its
mining development to a more advanced level, I expect Western to be
able to deliver a successful and innovative potash project in the
near future.”
About Western Resources Corp.Western Resources
Corp. (TSX: WRX) (“the Company”) and the Company’s wholly owned
subsidiary Western Potash Corp. are constructing Canada’s newest
and most innovative, environmentally friendly and capital-efficient
potash mine. This will be the first potash mine in the world that
will leave no salt tailings at the surface, thereby reducing the
water consumption by half as well as significantly improving energy
efficiency.
ON BEHALF OF THE BOARD OF DIRECTORS
Bill XueChairman
Cautions Regarding Forward-Looking Statements
Certain statements contained in this news
release constitute forward-looking information within the meaning
of applicable Canadian securities laws. Forward-looking statements
are statements that are not historical facts and are generally, but
not always, identified by words such as "anticipate", "continue",
"estimate", "expect", "expected", "intend", "may", "will",
"project", "plan", "should", "believe" and similar expressions
(including negative variations), or that events or conditions
"will", "would", "may", "could" or "should" occur. Forward-looking
statements are based on the opinions and estimates of management as
of the date such statements are made and they are subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results of the Company to be materially different from
those expressed or implied by such forward-looking statements or
forward-looking information. Although management of the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information that
is set out herein, except in accordance with applicable securities
laws.
For more information on the contents of this release please contact Jack Xue, Corporate Secretary, at 306-924-9378.
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