BluMetric Announces New Board Chair and Shareholder Approval of Amended Stock Option Plan
Rhea-AI Summary
BluMetric Environmental (TSXV: BLM) (OTCQX: BLMWF) has announced key leadership changes and stock option plan amendments. Scott MacFabe, who has served as CEO since March 2018, has been appointed as Chair of the Board of Directors while maintaining his CEO position. He succeeds Ian Mor Macdonald, who will continue as Chair of the Audit Committee.
At the annual and special meeting on March 19, 2025, shareholders approved an amended stock option plan that increases the available options from 4,500,000 to 5,500,000, representing approximately 14.9% of the company's issued and outstanding share capital. The amended plan is pending TSX-V approval.
Positive
- Leadership continuity with CEO Scott MacFabe taking additional role as Board Chair
- Expanded stock option plan increases potential for employee incentivization
Negative
- Potential shareholder dilution from increased stock option pool
- Concentration of power with CEO also serving as Board Chair may raise governance concerns
News Market Reaction
On the day this news was published, BLMWF gained 5.91%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Ottawa, Ontario--(Newsfile Corp. - March 24, 2025) - BluMetric Environmental Inc. (TSXV: BLM) (OTCQX: BLMWF) ("BluMetric" or "the Company"), an engineering WaterTech and full-service environmental consulting firm, today announced that Scott MacFabe has been named Chair of the Board of Directors of the Company, while continuing his role as Chief Executive Officer (CEO). Mr. MacFabe succeeds Mr. Ian Mor Macdonald who continues to be Chair of the Audit Committee.
"I want to extend my heartfelt gratitude to Ian for his outstanding service as Chair of the Board. I am deeply honoured to accept this appointment, and I look forward to continuing to lead BluMetric in my dual role as Chair and CEO as we capitalize on growth opportunities," said Scott MacFabe.
Mr. MacFabe has served as CEO and a Director of BluMetric since March 2018. Additional details regarding his expertise and background can be found in the Company's management information circular dated February 3, 2025, a copy of which can be found under the Company's profile at www.sedarplus.ca.
The Company is also pleased to announce the shareholders approved an amended and restated stock option agreement at the annual and special meeting of shareholders on March 19, 2025. The amended and restated stock option increases the number of options available for grant under the plan from 4,500,000 to 5,500,000, representing approximately
About BluMetric Environmental Inc.
BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 220 employees operating in ten offices and over 45 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients.
For more information, visit www.blumetric.ca or please contact:
Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 1-877-487-8436 x242
Email: smacfabe@blumetric.ca
Dan Hilton, CFO
BluMetric Environmental Inc.
Tel: 1-877-487-8436 x550
Email: dhilton@blumetric.ca
Brandon Chow, Principal & Founder
Panolia Investor Relations Inc.
Tel: 1-647-598-8815
Email: brandon@panoliair.com
Forward-Looking Statements
Some of the statements in this press release, including those related to obtaining approval of the TSX-V for the Company's amended and restated stock option agreement, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245848
FAQ
What changes were made to BluMetric's (BLMWF) stock option plan in March 2025?
Who is the new Board Chair of BluMetric (BLMWF) as of March 2025?
What percentage of BluMetric's (BLMWF) shares are now available for stock options?
When did shareholders approve BluMetric's (BLMWF) new stock option plan?
