Edmonton, 16 July 2024 – Innovotech Inc. (TSX-V:IOT ) (the “Company ”) concluded its annual general and special meeting of shareholders on 16 July 2024. Shareholders voted in favor of all matters, which included the re-election of James Timourian, Karen Farkas, David Tam, Julie Wright, and Craig Milne as directors of the Company.
Shareholders approved the appointment of D&H Group LLP as the Company auditors for the next fiscal year and adopted an Omnibus Security Based Compensation Plan as outlined in the Information Circular in advance of the meeting. The Omnibus Security Based Compensation Plan will enable more flexible performance reward-based compensation for the Company.
The Company’s board also approved a grant of 250,000 incentive stock options exercisable at $0.20 per share to five directors in the amount of 50,000 per director. The options are for five years and expire on 15 July 2029. The options are priced well above market closing to continue to shift the focus on performance and future growth for the company.
