(TheNewswire)
Toronto, ON - TheNewswire - May 4 2023 - Hill Street Beverage Company Inc. ( TSXV:HILL ) ( OTC:HSEEF )(" Hill Street ” or the " Company "), ispleased to announce the results of its Annual General and SpecialMeeting of Shareholders, held on May 2, 2023 (“ AGM ”).
Results of the AGM
All resolutions presented to the shareholders werevoted overwhelming in favour by shareholders at the AGM.
Each of the director nominees proposed by managementfor election were elected to the Board of Directors being CraigBinkley, Jack Fraser, Kevin Ruddle, Lori Senecal and Frank Vizcarra.
At the meeting, shareholders also approved resolutionsregarding the following matters:
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setting the number of directors for the ensuing year atfive (5);
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re-appointment of MNP LLP, Chartered ProfessionalAccountants, as auditor of the Company for the ensuing year andauthorizing the directors to determine the auditor’scompensation;
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re-approval of the Company’s Stock Option Plan forthe ensuing year;
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approval of the Company’s amended Restricted ShareUnit Plan;
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approval of the proposed name change of the Companyfrom Hill Street Beverage Company Inc. to HillIncorporated ”; and
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approval for the Board of Directors to proceed with theconsolidation of the Company's issued and outstanding common shares onthe basis of up to 75 pre-consolidation common shares for each onepost-consolidation common share.
The Board of Directors thanks all shareholders fortheir support of these changes.
Name Change
The change of the Company’s name to “ HillIncorporated ” is still subject to the approvalof the TSX Venture Exchange and the Company will issue a further pressrelease once the timing of the proposed change is confirmed.
Share Consolidation
By a resolution of the Board of Directors of theCompany passed on May 3, 2023, the directors have authorized theconsolidation of the issued and outstanding common shares of theCompany on a basis of 75 pre-consolidation common shares for each 1post-consolidation common share (the " Share Consolidation "). The Company intends to implement the ShareConsolidation as soon as practicable. The Share Consolidation issubject to the acceptance of the TSX Venture Exchange. It is currentlyexpected that the Company's stock symbol will remain unchangedfollowing the Share Consolidation.
The Board of Directors is proceeding with the ShareConsolidation on the basis that it is in the best interests ofshareholders as it could lead to increased interest in the Company’sshares by a wider audience of potential investors and may result in anincrease in the trading volume and liquidity of its shares.
About Hill Street Beverage CompanyInc. (TSXV: HILL)
Hill Street is a progressive innovation company thatutilizes new technologies to provide innovative cannabis solutions andnon-alcoholic beverage products globally. We are pioneering the spacewhere craft consumer products meet bioscience by leveraging our deepCPG expertise to commercialize leading-edge technologies to craftsuperior consumer products. We are currently developing the platformfor North American distribution around our rights to use LexariaBioscience Corp.’s ground-breaking DehydraTECH patent portfolio forproduct development, licensing and B2B sales of cannabisingredients.
For more information on our business activities visit www.hillincorporated.com orto check out Hill Street’s award-winning alcohol-free wine line-upand order product to be delivered straight to your home go to www.hillstreetbeverages.com
If you wish to sign up for the Hill Street mailinglist, click HERE .
For more information:
Matthew Jewell, Chief Executive Officer
matthew@hillstreetbevco.com
FORWARD-LOOKING STATEMENTS
Statements in this press release may containforward-looking information. Any statements in this press release thatare not statements of historical fact may be deemed to beforward-looking statements. Forward-looking statements are oftenidentified by terms such as “may”, “should”, “would”,“anticipate”, “expects”, and similar expressions. The readeris cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances, such as future availability of capital on favourableterms, may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this pressrelease are expressly qualified by this cautionary statement. Theforward-looking statements contained in this press release are made asof the date of this press release. The Company does not undertake anyobligation to update publicly or to revise any of the includedforward-looking statements, whether as a result of new information,future events or otherwise, except as required by securitieslaw.
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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