TORONTO, June 13,
2022 /CNW/ - Standard Mercantile Acquisition
Corp. (TSX: SMA) (the "Company") announces the results of
matters voted on at its annual meeting of shareholders held
on June 9, 2022 (the
"Meeting"). There were 9 shareholders represented in person
or by proxy at the Meeting holding 3,945,262 Class A Shares,
representing approximately 53.91% of the Company's total issued and
outstanding shares.
Each of the nominees for election as a director listed in the
Company's management information circular dated May 9, 2022 was elected as a director of the
Company at the Meeting. Proxies in respect of the matters put
before shareholders at the Meeting were received as follows:
1. Election
of Directors
Each of the nominees for election as directors listed in the
management information circular of the Company dated May 9, 2022 was elected as a director of the
Company for the ensuing year or until their successors are elected
or appointed. Management received proxies in respect of the
election of directors of the Company as follows:
|
Votes
For
|
Votes
Withheld
|
|
#
|
%
|
#
|
%
|
Jonathan
Cowan
|
3,912,612
|
99.94 %
|
2,450
|
0.06 %
|
Jordan M.
Kupinsky
|
3,914,612
|
99.99 %
|
450
|
0.01 %
|
Bradley
Nathan
|
3,914,612
|
99.99 %
|
450
|
0.01 %
|
Kenneth
Wiener
|
3,914,612
|
99.99 %
|
450
|
0.01 %
|
2.
Appointment of Auditor
KPMG LLP, Chartered Accountants, was appointed auditor of the
Company until the next annual meeting of shareholders at
remuneration to be fixed by the board of director (the
"Board") of the Company. Management received proxies in
respect of the appointment of the auditor of the Company as
follows:
Votes
For
|
Votes
Withheld
|
#
|
%
|
#
|
%
|
4,292,115
|
99.98 %
|
1,000
|
0.02 %
|
About the Company
The Company holds a portfolio of mortgages in Canada. At the Company's 2021 annual and
special meeting of shareholders, the Company sought and received
shareholder approval to change its name to "Standard Mercantile
Acquisition Corp.", among other amendments to the articles of the
Company. The Company is focused on monetizing its remaining
mortgage assets and is considering options to enable its
shareholders to participate in the potential future value of the
Company through transactions that could capitalize on the Company's
public listing. The Board has experience in sourcing, evaluating
and executing transactions of this nature.
Forward-Looking
Statements
Statements in this press release contain forward-looking
information. Such forward-looking information may be identified by
words such as "anticipates", "plans", "proposes", "estimates",
"intends", "expects", "believes", "may" and "will". The
forward-looking statements are founded on the basis of expectations
and assumptions made by the Company. Details of the risk factors
relating to the Company and its business are discussed under the
heading "Business Risks and Uncertainties" in the Company's annual
Management's Discussion & Analysis for the year ended
December 31, 2021 and under the
heading "Risk Factors" in the Company's Annual Information Form
dated March 30, 2022, copies of which
are available on the Company's SEDAR profile at www.sedar.com. Most
of these factors are outside the control of the Company. Investors
are cautioned not to put undue reliance on forward-looking
information. These statements speak only as of the date of this
press release. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims
any intent or obligation to update publicly forward-looking
information, whether as a result of new information, future events
or otherwise.
SOURCE Standard Mercantile Acquisition Corp.