Carbon Streaming Announces Annual General and Special Meeting Results

Rhea-AI Summary

Carbon Streaming (Cboe CA: NETZ) (OTCQB: OFSTF) held its annual general and special meeting on July 24, 2024. Shareholders elected five directors and approved the appointment of Deloitte LLP as auditor. The company's omnibus long-term incentive plan was also approved. Notably, Candace MacGibbon did not stand for re-election as a director.

A total of 12,501,820 common shares, representing approximately 26.06% of outstanding shares, were voted for the election of directors. The voting results showed strong support for all nominees, with approval rates ranging from 98.3% to 99.4%.

Positive

• High approval rates for all director nominees (98.3% to 99.4%)
• Appointment of Deloitte LLP as auditor approved
• Omnibus long-term incentive plan approved

Negative

• Low shareholder participation with only 26.06% of outstanding shares voted

News Market Reaction

+6.51%

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+6.51% News Effect

On the day this news was published, OFSTF gained 6.51%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, July 24, 2024 (GLOBE NEWSWIRE) -- Carbon Streaming Corporation (Cboe CA: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) today held its annual general and special meeting of shareholders (the “Meeting”), where each of the five nominees proposed as directors and listed in the Company’s management proxy circular dated June 24, 2024 were elected as directors.

Candace MacGibbon did not stand for re-election as a director at the Meeting. “On behalf of the Board of Directors, I would like to thank Candace for her contributions to the Board over the last number of years.  We wish Ms. MacGibbon success in her future endeavors,” said Olivier Garret, Chair of the Company’s board of directors. 

A total of 12,501,820 common shares were voted in respect of the election of directors at the Meeting, representing approximately 26.06% of the votes attached to all outstanding common shares.

At the Meeting, the shareholders of the Company also approved the appointment of Deloitte LLP as auditor and authorized the directors to fix their remuneration and approved the Company’s omnibus long-term incentive plan.

The detailed results of the vote for the election of directors are set out below:

Nominee	Outcome of Vote	Voted	Voted (%)
Marcel de Groot	Approved	9,722,770 For 96,789 Withheld	99.0% 1.0%
Olivier P. Garret	Approved	9,765,297 For 54,262 Withheld	99.4% 0.6%
Christian Milau	Approved	9,754,532 For 65,027 Withheld	99.3% 0.7%
Alice Schroeder	Approved	9,647,613 For 171,946 Withheld	98.3% 1.7%
Jeanne Usonis	Approved	9,718,507 For 101,052 Withheld	99.0% 1.0%

For complete voting results on all matters approved at the Meeting, please see the Company’s Report of Voting Results dated July 24, 2024 available on SEDAR+ at www.sedarplus.ca.

About Carbon Streaming

Carbon Streaming aims to accelerate a net-zero future. We pioneered the use of streaming transactions, a proven and flexible funding model, to scale high-integrity carbon credit projects to advance global climate action and additional United Nations Sustainable Development Goals. This approach aligns our strategic interests with those of project partners to create long-term relationships built on a shared commitment to sustainability and accountability and positions us as a trusted source for buyers seeking high-quality carbon credits.

The Company’s focus is on projects that have a positive impact on the environment, local communities, and biodiversity, in addition to their carbon reduction or removal potential. The Company has carbon credit streams and royalties related to over 20 projects around the world, including high-integrity removal, reduction and avoidance projects from nature-based, agricultural, engineered and community-based methodologies.

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ON BEHALF OF THE COMPANY:
Christian Milau, Interim Chief Executive Officer
Tel: 647.846.7765
info@carbonstreaming.com
www.carbonstreaming.com

Investor Relations
investors@carbonstreaming.com

Media
media@carbonstreaming.com

FAQ

What were the results of Carbon Streaming's (OFSTF) annual general meeting on July 24, 2024?

Carbon Streaming's annual general meeting on July 24, 2024, resulted in the election of five directors, approval of Deloitte LLP as auditor, and approval of the company's omnibus long-term incentive plan. All director nominees received high approval rates between 98.3% and 99.4%.

How many shares were voted at Carbon Streaming's (OFSTF) 2024 annual meeting?

A total of 12,501,820 common shares were voted at Carbon Streaming's 2024 annual meeting, representing approximately 26.06% of the votes attached to all outstanding common shares.

Who was not re-elected to Carbon Streaming's (OFSTF) board of directors in 2024?

Candace MacGibbon did not stand for re-election as a director at Carbon Streaming's 2024 annual general meeting.

What was the highest approval rate for a director nominee at Carbon Streaming's (OFSTF) 2024 annual meeting?

The highest approval rate for a director nominee at Carbon Streaming's 2024 annual meeting was 99.4% for Olivier P. Garret.