Edge Total Intelligence Announces Results of Annual General Meeting

ARLINGTON, Va., Aug. 24, 2023 (GLOBE NEWSWIRE) -- Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV: CTRL, OTCQB: UNFYF, FSE: Q5i), a leader in real-time digital operations software, is pleased to announce the results of its Annual General and Special Meeting of Shareholders (“AGM”) held virtually on August, 23 2023 at 12:00 EDT. Shareholders of the Company voted in favor of all items put forward by the board of directors (the “Board”) and management.

The results of the meeting were as follows:

1. The number of directors of the Company was set at seven (7).
2. All seven of the individuals nominated for the Board were elected, being James Barrett, Fay Arjomandi, Seth Kay, Edward Mede, Brett Paulson, Jaci Tomek, and Mel Wesley. Four of the seven nominees were already directors of the Company and three new independent directors were elected. Of the directors elected or reelected, Fay Arjomandi, Edward Mede, Jaci Tomek and Mel Wesley are independent.
3. MNP LLP, Chartered Professional Accountants, were re-appointed as auditors of the Company and the directors of the Company were authorized to determine their remuneration.
4. The shareholders of the Company approved amendments to the Company’s current omnibus incentive plan (the "Omnibus Plan") to (a) clarify and better align the Omnibus Plan to the provisions of the Income Tax Act (Canada) and the United States Internal Revenue Code of 1986 including guidance from the Canadian Revenue Agency regarding certain administrative matters, (b) provide the Board with the ability to designate, at the time of grant, whether a share unit is a "Cash-or-Share Settled Share Unit" or a "Share-Settled Share Unit" and (c) revise certain provisions of the Omnibus Plan to clarify that the Omnibus Plan is a "rolling up to 10% and fixed up to 10%" plan, within the meaning of TSX Venture Exchange Policy 4.4 (together, the "Amendments"). The Amendments do not impact any outstanding awards issued under the current Omnibus Plan.

“We appreciate the service of the prior Board and welcome our new directors Fay Arjomandi, Jaci Tomek, and Mel Wesley who were nominated and elected for their experience, expertise, and knowledge in technology and digital innovation,” said James Barrett, CEO of edgeTI. “The Company looks forward to their contribution and direction.”