VANCOUVER, BC – May 26, 2021 – TechX Technologies Inc. (“TechX” or the “Company”)(CSE:TECX) (OTC:TECXF) (FRA: C0B1:FF) announces that the board of directors of the Company (the “Board”) has approved the adoption of an advance notice policy (the “Policy”) to provide shareholders, directors and management of the Company with a clear framework for nominating directors. The Policy is meant to: (i) facilitate an orderly and efficient annual and/or special meeting process; (ii) ensure all shareholders receive adequate notice of director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote, having been afforded reasonable time for appropriate deliberation.
The Policy contains a provision that requires advance notice to TechX in circumstances where nominations of persons for election to the Board are made by shareholders of TechX. The Policy fixes deadlines by which shareholders of record of TechX must submit director nominations to TechX prior to any annual or special meeting of shareholders, and sets forth the information a shareholder must include in the notice to TechX for an effective nomination to occur. No person will be eligible for election as a director of TechX unless nominated in accordance with the provisions of the Policy.
In the case of an annual meeting of shareholders, the deadline for notice to TechX pursuant to the Policy is not less than 30 days, or more than 65 days, prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.
In the case of a special meeting (which is not also an annual meeting) of shareholders called for the purpose of electing directors (whether or not called for any other purposes), the deadline for notice to TechX pursuant to the Policy is no later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
At the next annual general meeting of shareholders on July 21, 2021, the Company will ask shareholders to ratify and confirm the adoption of the Policy. The Board has adopted the Policy and it will be effective and in full force and effect as of May 25, 2021.
The full text of the Policy is available on www.sedar.com.
Further, the Company has granted an aggregate 6,050,000 incentive stock options (the “Options”) to directors, officers and consultants of the Company. The Options are exercisable at $0.80 per share for a period of three years from the date of grant. The Options have been granted under and are governed by the terms of the Company’s incentive stock option plan.
About TechX Technologies Inc.
TechX Technologies Inc. (CSE:TECX) (OTC:TECXF) (FRA:C0B1) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, our investors have access to strategically selected portfolio companies that offer technologies across the entire cryptocurrency funnel, unlocking massive market potential. TechX’s portfolio of companies includes Mobilum, Catalyx Exchange, Altsignals, Xport Digital and Shiftinsights.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
