TORONTO, May 24, 2019 /CNW/ - Globalive Technology (TSX-V:
LIVE) (the "Company"), a technology and software commercialization
firm focused on innovative solutions to disrupt traditional
industries, will hold an annual general and special meeting of its
shareholders (the "Meeting") on June 20,
2019 at 11:00 a.m. (EST) at
the Company's offices at 48 Yonge St., Suite 1200, Toronto, Ontario, M5E 1G6.
"We continue to focus on the technologies and partnerships that
we believe hold the greatest potential to generate returns for our
shareholders. This meeting will give us an opportunity to update on
the company's vision and strategic plan as well as to put in place
the tools we need to capitalize on the opportunities that we have
identified," said Anthony Lacavera,
the Company's founder and Chief Executive Officer.
In addition to the summary provided below, detailed information
about the business of the Meeting, the mechanics of voting and
attendance at the Meeting and other related matters is set out in
the Notice of Meeting, the form of Proxy and Management's
Information Circular, each of which are available on the Company's
SEDAR page at www.sedar.com.
ANNUAL GENERAL AND SPECIAL MEETING (JUNE 20, 2019)
The Meeting will be held on June 20,
2019 at 11:00 a.m. (EST) at
the Company's offices at 48 Yonge St., Suite 1200, Toronto, Ontario, M5E 1G6. At the Meeting,
shareholders will be presented with the Company's consolidated
financial statements for the financial year ended December 31, 2018, together with the independent
auditor's report for those financial statements. Shareholders will
also be asked to consider and pass resolutions:
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(i)
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approving the
re-appointment of PricewaterhouseCoopers LLP as the Company's
auditor for the financial year ending December 31, 2019 and
authorizing the Company's board of directors to fix the auditor's
compensation;
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(ii)
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electing the
directors of the Company for the coming year;
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(iii)
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approving amendments
to the exercise price of the option awards issued to certain
insiders under the Company's 2018 Omnibus Equity Incentive
Compensation Plan;
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(iv)
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authorizing the
Company to pay the salary of its Chief Executive Officer (Anthony
Lacavera) for the next year quarterly, in arrears, in common shares
of the Company, rather than cash;
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(v)
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authorizing an
amendment to the articles of amalgamation of the Company to create
a new class of preferred shares, issuable in series, with the
rights and privileges approved by the board of directors;
and
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(vi)
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such other matters as
may properly come before the Meeting.
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The board of directors of the Company is unanimously
recommending (with Anthony Lacavera
abstaining from discussions, voting and recommendations relating to
the form of his compensation) that all shareholders vote in favour
of items (i), (iv) and (v) above. Given that all of the
directors of the Company hold options, the board is not making a
recommendation to the shareholders on the amendments in item (iii)
above.
While all shareholders are invited to attend the Meeting, only
shareholders of record as of May 16,
2019, the record date for the Meeting, will be entitled to
cast a vote at the Meeting. Eligible shareholders who do not wish
to attend the Meeting in person can also vote on the business of
the Meeting by submitting a proxy in accordance with the
instructions set out in Management's Information Circular. Proxies
must be received by the Company or its transfer agent,
Computershare Trust Company of Canada, by no later than 11:00 a.m. on June 18,
2019, or if the Meeting is adjourned, no later than 48 hours
prior to the new Meeting date and time.
Further details on the business and mechanics of the Meeting,
along with the rationale for each of the proposed resolutions, are
described in Management's Information Circular. "We urge you to
give this material your careful consideration," said Anthony Lacavera. "Please ensure that your
shares are represented at the Meeting, whether or not you are able
to attend. Regardless of the number of shares you hold, your vote
is important."
ABOUT GLOBALIVE TECHNOLOGY
Globalive Technology is a next generation software company and
venture partner that is developing and investing in innovative
solutions to disrupt traditional industries, with a particular
focus on the retail consumer finance industry. The company forms
partnerships with leading high growth companies to develop and
commercialize software solutions using optimal technology stacks.
It is controlled by Globalive Capital Inc., which has founded and
co-founded 12 businesses over the past 20 years with six successful
exits ranging from $10M to
$1.3B USD, has made over 100 venture
investments and has over 45 technology companies in its portfolio.
For more information, visit www.globalivetech.com.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements
relating to the Company, its software development projects and its
joint ventures. Such forward-looking statements are identified by
terms such as "will", "if" and similar expressions. All statements,
other than statements of historical fact included in this release,
including those noted above, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's expectations include
an adjournment of the Meeting, a change in the proposed business
of the Meeting, unanticipated numbers of shareholders attending or
failing to attend the meeting or voting or failing to vote by
proxy, and other risks as set out in the Company's filing statement
dated May 29, 2018 available on its
SEDAR page at www.sedar.com.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company. The Company cannot
guarantee that any of the forward-looking statements contained in
this press release will occur as disclosed herein or at all. The
reader is cautioned not to place undue reliance on any
forward-looking information.
Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release and the Company will only
update or revise publicly the included forward-looking statements
as expressly required by Canadian securities law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
For media inquiries:
Rob
Moysey
Communications Manager, Globalive
Media@globalivetech.com
For investor
inquiries:
InvestorRelations@globalivetech.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
SOURCE Globalive Technology