Fortune Bay Corp.: Reports Results of Annual and Special Meeting of Shareholders
16.06.2016 | CNW
HALIFAX, June 16, 2016 - Fortune Bay Corp. ("Fortune Bay" or the "Company") (TSX: FOR) is pleased to provide the voting results of the annual and special meeting of shareholders of the Company held on June 15, 2016 in Halifax, Nova Scotia.The Shareholders have approved the Arrangement Resolution and the Fortune Merger Resolution as more particularly described in the management information circular of the Company dated May 13, 2016 (the "Circular"). After excluding the votes cast by such persons whose votes may not be included pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, the special resolutions were approved by the following votes: (i) the Arrangement Resolution was approved by 9,408,505 (99.85%) votes in favour and 13,988 (0.15%) votes against; and (ii) the Fortune Merger Resolution was approved by 9,408,514 (99.85%) votes in favour and 13,979 (0.15%) votes against.
The following nominees were listed in the Circular to be elected as directors until the earlier of: (i) the next annual meeting of the Company or until his successor is duly elected or appointed, unless his office is earlier vacated; or (ii) completion of the transaction (the "Transaction"), as described in the Circular. Each of the following directors was elected by the votes cast by shareholders present at the meeting by a show of hands. The votes in respect of the election of each director are as follows:
| Nominee | Votes For | % of Votes | Votes | % of Votes | Non-Votes |
| Wade Dawe | 14,848,721 | 99.91 | 13,677 | 0.09 | - |
| Michael Gross | 14,848,963 | 99.91 | 13,435 | 0.09 | - |
| Derrick Gill | 14,850,923 | 99.92 | 11,475 | 0.08 | - |
| Darren Nantes | 14,850,443 | 99.92 | 11,955 | 0.08 | - |
| David Peat | 14,850,051 | 99.92 | 12,347 | 0.08 | - |
The following nominees were listed in the Circular to be elected as directors which would take effect following completion of the Transaction, to hold office until the next annual meeting of the Company or until his successor is duly elected or appointed, unless his office is earlier vacated. Each of the following nominees was elected by the votes cast by shareholders present at the meeting by a show of hands. The votes in respect of the election of each director are as follows:
| Nominee | Votes For | % of Votes | Votes | % of Votes | Non-Votes |
| Wade Dawe | 14,846,405 | 99.89 | 15,993 | 0.11 | - |
| Edmund Ryan | 14,846,915 | 99.90 | 15,483 | 0.10 | - |
| Kevin Fitzgerald | 14,846,985 | 99.90 | 15,413 | 0.10 | - |
| Paul Breen | 14,849,578 | 99.91 | 12,820 | 0.09 | - |
| Ian Ainsworth | 14,846,973 | 99.90 | 15,425 | 0.10 | - |
| James Osborne | 14,846,903 | 99.90 | 15,495 | 0.10 | - |
The shareholders also approved the re-appointment of PricewaterhouseCoopers LLP as auditor of the Company for the next year. In addition, all other resolutions noted in the Circular, including (i) a resolution approving an amended stock option plan for Fortune Bay for use following completion of the Transaction, the full text of which is set forth in the Circular; (ii) a resolution approving a new rolling stock option plan for 9617337 Canada Limited for use following completion of the Transaction, the full text of which is set forth in the Circular; (iii) a resolution approving a deferred share unit plan of Fortune Bay and the reservation of 2,000,000 common shares of Fortune Bay for issuance thereunder, all as more particularly set forth and described in the Circular; and (iv) a resolution approving the issuance of an aggregate of 1,322,500 Fortune Bay Shares to certain senior officers, directors and a non-executive employee of Fortune Bay in connection with the Transaction, all as more particularly set forth and described in the Circular.
A report of voting results has been filed on SEDAR. Please refer to the Company's profile on SEDAR at www.sedar.com for more information.
Additional information regarding the terms of the Transaction are set in the Circular, which is available under the Fortune Bay profile on SEDAR at www.sedar.com.
Contact
Sarah Oliver, CFO
Fortune Bay Corp.
2001-1969 Upper Water Street
Halifax, NS, B3J 3R7
T: 1-902-422-1421
E: info@fortunebaycorp.com
