Keweenaw Land Announces Final Vote Results on Matters Before the 2021 Special Meeting of Shareholders
IRONWOOD, Mich., Dec. 22, 2021 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC US: KEWL) today announced the final results of the shareholder vote of the proposals presented at the Company’s special meeting held on December 20, 2021, which are as follows:
Proposal 1: To approve the Timberland Assets Sale and Purchase and Sale Agreement.
For | Against | Abstain | Broker Non-votes |
850,492 | 29,834 | 623 | 0 |
Proposal 2: To approve the Plan of Partial Liquidation.
For | Against | Abstain | Broker Non-votes |
845,744 | 34,126 | 1,079 | 0 |
Proposal 3: To approve the adjournment of the special meeting, if necessary or appropriate.
For | Against | Abstain | Broker Non-votes |
840,827 | 38,927 | 1,195 | 0 |
Keweenaw Chairman, James A. Mai commented, “We are very pleased with the overwhelming support for the deal. Over
As previously disclosed, the timber sale transaction is expected to close on December 27, 2021. Conditioned upon the closing, payment of the first special distribution of
Contact: Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, investors@keweenaw.com
About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Following the sale of its timberland assets, Keweenaw’s business will be focused on its mineral assets. Additional information is available on the Company's website at www.keweenaw.com. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as "Pink Current Information" under the OTC Pink Sheets.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that have been made pursuant to provisions of the Private Securities Litigation Reform Act of 1995. forward-looking statements represent the Company’s expectations or beliefs concerning future events, including any statements regarding: the anticipated closing date or distribution date. Without limiting the foregoing, the words “believes,” “intends,” “projects,” “plans,” “expects,” “anticipates” “estimates” and similar expressions are intended to identify forward-looking statements. Actual events or results may differ materially from these projections. information regarding the risks, uncertainties and other factors that could cause actual results to differ from the results in these forward-looking statements are discussed under the section “risk factors” in the Company’s proxy statement. please carefully consider these factors, as well as other information contained herein and in our periodic reports and accompanying documents found on our website (at www.keweenaw.com/company-reports/). The forward-looking statements included in this press release are made only as of the date of this press release. We do not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances, except as required by law.