VANCOUVER, BC, May 25, 2021
/CNW/ - Interlapse Technologies Corp. (TSXV: INLA) (OTCQB:
INLAF) announces that all of the matters pertaining to its annual
general and special meeting of shareholders (the "Meeting") held in
Vancouver, B.C. on May 24, 2021 were approved. Namely, 99.93% of
shares represented at the Meeting voted in favour of the proposed
acquisition of LQwD Financial Corp. (the "Transaction").
LQwD Financial Corp. is a Canadian based company developing
software, which enables the setup of nodes and payment channels on
the Bitcoin Lightning Network. The Lightning Network is a
layer-two technology that dramatically improves bitcoin's
scalability, transaction fees and settlement times.
Election of Directors
All five (5) of the nominees listed in Interlapse's management
information circular dated April 22,
2021 that were proposed by management for election to the
board of directors at the Meeting were duly elected. It is expected
that certain members of the board will be replaced following
completion of the Transaction.
The results of the vote on the election of the directors at the
Meeting are as follows:
|
Nominee
|
For
|
%
For
|
Withheld
|
%
Withheld
|
|
Wayne Chen
|
17,181,092
|
99.88
|
20,896
|
0.12
|
|
Giuseppe (Pino)
Perone
|
17,180,024
|
99.87
|
21,964
|
0.13
|
|
John
Vaccaro
|
17,190,032
|
99.93
|
11,956
|
0.07
|
|
Ashley
Garnot
|
17,120,020
|
99.52
|
81,968
|
0.48
|
|
David
Loretto
|
17,190,032
|
99.93
|
11,956
|
0.07
|
Appointment of Auditors
Shareholders reappointed De Visser Gray LLP as auditors of the
Company. It is expected that Manning Elliott LLP will be appointed
auditors following completion of the Transaction.
Approval of Stock Option Plan
The Company's incentive stock option plan, and amendments
thereto, were approved by shareholders with 99.92% of shares
represented at the Meeting voting in favour. In this regard, the
Company has granted 1,000,000 stock options exercisable for a
period of five years at a price of C$0.65 per share to various directors and
officers who will remain with the Company following the completion
of the Transaction, which will be subject to deferred vesting over
two (2) years.
About Interlapse Technologies Corp.
Interlapse Technologies Corp. is a financial technology
applications company accelerating the global mega-trend of virtual
currency adoption. Interlapse currently has 31,266,521 shares
outstanding (37,077,401 fully diluted).
To learn more, visit www.interlapse.com.
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information"
within the meaning of applicable securities laws, including but not
limited to statements relating to the Meeting. Although the Company
believes, in light of the experience of its officers and directors,
current conditions and expected future developments and other
factors that have been considered appropriate, that the
expectations reflected in this forward-looking information are
reasonable, undue reliance should not be placed on them because the
Company can give no assurance that they will prove to be correct.
Actual results and developments may differ materially from those
contemplated by these statements. The statements in this press
release are made as of the date of this release and the Company
assumes no responsibility to update them or revise them to reflect
new events or circumstances other than as required by applicable
securities laws. The Company undertakes no obligation to comment on
analyses, expectations or statements made by third parties in
respect of the Company, its subsidiaries, their securities, or
their respective financial or operating results (as
applicable).
SOURCE Interlapse Technologies Corp.