PowerTap Announces Results of Annual General Meeting and Resignation of Former Auditor

VANCOUVER, British Columbia and ALISO VIEJO, Calif., June 09, 2023 (GLOBE NEWSWIRE) -- PowerTap Hydrogen Capital Corp. (NEO: MOVE) (OTC: MOTNF) (the “Company”) announces the results of the Annual General Meeting held on June 8, 2023 (the “Meeting”).

The Company is pleased to announce that all matters submitted to shareholders for approval as set forth in the Company’s Notice of Meeting and Information Circular, both dated April 25, 2023, were approved at the Meeting. There were 15 shareholders represented in person or by proxy at the Meeting, holding 2,855,601 common shares, representing 0.61% of the Company’s total issued and outstanding common shares as of the record date for the Meeting. The voting results for each matter presented at the Meeting are set out below:

Number of Directors

The resolution to set the number of directors of the Company at four (4) was approved by votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the Meeting. Voting results are set out below:

Votes For			Votes Against
2,768,628	96.95	%	86,973	3.05	%

Election of Directors

Each of the nominees for election as a director listed in the Company’s Information Circular dated April 25, 2023, were elected as directors of the Company for the ensuing year until their successors were elected or appointed. Voting results are set out below:

	Votes For		Votes Against
	#	%	#	%
John Martin	2,726,868	95.49	128,733	4.51
Raghunath (Raghu) Kilambi	2,718,774	95.21	136,827	4.79
John Zorbas	2,725,018	95.43	130,583	4.57
Byron Berry	2,736,873	95.84	118,728	4.16

Appointment of Auditors

The resolution to re-appointed Smythe LLP (“Smythe”) as Auditors of the Company for the ensuing year, with their remuneration to be fixed by the board of directors was varied, as the Company received a notice of resignation from Smythe after the publication of the Information Circular on SEDAR. At the Meeting, the board varied the resolution so that Shim & Associates LLP (“Shim”) would be appointed as Auditors of the Company for the ensuing year, with their remuneration to be fixed by the board of directors. Voting results are set out below: