Vancouver, British Columbia – DXI Energy Inc. (TSXV: DXI.H) (“DXI” or the “Company”) today announced the results of its Annual General and Special Meeting of Shareholders held on August 20, 2020 at the Company’s Vancouver office.
The following sets forth a brief description of each matter which was voted upon at the Meeting and the outcome of the vote:
|Description of Matter||Outcome of Vote||Votes For||Votes Against||Votes Withheld/Abstained|
|1.||Fix the number of directors to be elected at the Meeting at three (3).||Passed||98.89%||1.11%||0.00%|
|2.||To elect the following three (3) nominees to serve as directors of DXI for the ensuing year, or until their successors are duly elected or appointed, subject to the provisions of the Business Corporations Act (B.C.) and by-laws of DXI:|
|A. Ross Gorrell||Passed||99.04%||0.00%||0.96%|
|3.||To approve the re-appointment of Davidson and Company LLP, Chartered Professional Accountants, as auditors of DXI to hold office until the next annual meeting or until their successors are appointed and to authorize the Board of Directors to fix their remuneration as such.||Passed||96.80%||0.00%||3.20%|
|4.||To approve by ordinary resolution, with or without amendment, the consolidation of all the issued common shares of the Company, on the basis of one hundred (100) common shares being consolidated into one (1) common share, or on such lesser share consolidation ratio as may be approved by the Board of Directors and is acceptable to the TSX Venture Exchange (NEX Division).||Passed||97.30%||2.70%||0.00%|
|5.||To approve the proposed issuance of the post-consolidated shares for debt settlements with Hodgkinson Equities Corporation and the consequent increase in the control position of Hodgkinson Equities Corporation.||Passed||85.25%(1)||14.75%||0.00%|
|6.||To approve the proposed issuance of the post-consolidated shares for debt settlements with Hodgkinson Ventures Inc. and the creation of Hodgkinson Ventures Inc. as a new control person of the Corporation.||Passed||98.05%(1)||1.95%||0.00%|
(1) Only the votes cast by the disinterested shareholders are shown.
Subsequent to the Meeting, the board of directors also approved the change of name of the Company to DXI Capital Corp., subject to the acceptance of NEX and the Registrar of Companies for British Columbia. The Company will issue a further press release detailing the effective date of the share consolidation and change of name.
Signed: On behalf of the Board of Directors of DXI Energy Inc.
About DXI ENERGY INC.
Robert L. Hodgkinson
DXI Energy Inc. is currently publicly traded on NEX (DXI.H), operated by the TSX Venture Exchange.
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.