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VANCOUVER, British Columbia, May 8, 2023 (GLOBAL NEWS LINE) — Western Resources Corp. (TSX: WRX) (“Western” or “Company”) pleased to announce that the shareholders of the Company have approved all the items presented before them at the Company’s Annual General Meeting of Shareholders (“AGM”) held today, 10 March 2018. 2023. The items to be adopted are:
- Fixed number of Directors of the Company is 7;
- The election of Bill Xue, George Gao, Mark Fracchia, Justin Xing, Guy Bentinck, Andrew Hancharyk and Scott Nagel to the Board of Directors. A total of 328,893,991 ordinary shares, accounting for 80.51% of the Company’s outstanding ordinary shares at the date of registration, were present in person or by proxy at the meeting. The approximate number of “Yes” votes for each director, the approximate “Percentage” of the total number of votes, and the number of “Retain/White” votes for each director are presented as follows:
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| Manager | Because | withhold/abstain | percentage | |
| Bill Xue | 290.562,409 | 281,780 | 99.90% | |
| George Gao | 290,563,629 | 280.560 | 99.90% | |
| Mark Fracchia | 290,647.637 | 196,552 | 99.93% | |
| Justin Xing | 290,649,317 | 194,872 | 99.93% | |
| Mr. Bentinck | 290,646.287 | 197,902 | 99.93% | |
| Andrew Hancharyk | 290,648.837 | 195,352 | 99.93% | |
| Scott Nagel | 290.651.047 | 193,142 | 99.93% | |
3. The re-appointment of MNP LLP as the Company’s auditor with remuneration to be determined by the directors, with 290.705,797 shares voted “Yes”, representing 99.95% of the ordinary shares. outstanding shares of the Company and 138,392 shares voting “Retain”.
The new Board of Directors then re-elected Mr. Bill Xue as Chairman of the Company, Mr. Justin Xing as Chairman of the Executive Committee, Mr. Mark Fracchia as Chairman of the Nomination and Evaluation Committee, and Mr. Guy Bentinck as Chairman of the Committee. Evaluation Committee. Audit Committee, Mr. Scott Nagel is Chairman of the Compensation Committee and Mr. Andrew Hancharyk is Chairman of the Corporate Disclosure Policy Committee. Mr. Shuai Wei and Mr. Owen Zhang were reappointed as Observers of the Board of Directors.
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The company welcomes Mr. Scott Nagel to Western’s board of directors. Mr. Nagel brings to the Company more than 30 years of experience in grains and fertilizers. He was Chairman of ADM Benson Quinn from 2008 until January of this year when he retired. The Board of Directors believes that Mr. Nagel will play an important role in supporting the Company’s continued efforts in business marketing, project financing and corporate strategy.
Western President Bill Xue said: “I am delighted that we now have such a strong board in the Company’s history. Nagel’s addition to our board will improve the board structure by adding more depth, with board members with experience in one or more strategic areas, financial, technical, legal or corporate management. As the construction of the Milestone Project is expected to be completed in May and with its mining development taking to a more advanced level, I expect Western to be able to deliver a successful potash project. and innovation in the near future.”
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About Western Resources Corp.
Western Resources Corp. (TSX: WRX) (the “Company”) and its subsidiary Western Potash Corp. wholly owned by the Company is building Canada’s newest and most innovative, environmentally friendly and capital-saving potash mine. This will be the first potash mine in the world to leave no salt waste on the surface, thus reducing water consumption by half as well as dramatically improving energy efficiency.
REPRESENTATION OF THE BOARD OF DIRECTORS
Bill Xue
Chairperson
Beware of forward-looking statements
Certain statements in this newsletter constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical and general facts, but are not always identified with words such as “anticipate”, “continue”, “estimate”, “ expect”, “expected”, “intended”, “may”, “will”, “project”, “plan”, “should”, “believe” and similar expressions (including including negative variants) or events or conditions that “will”, “will”, “could”, “could” or “should” happen. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known risks, uncertainties, and other factors. and unknown could cause the Company’s actual results to differ significantly from the actual results. expressed or implied by forward-looking statements or forward-looking information. Although the Company’s management has attempted to identify significant factors that may cause actual results to differ significantly from those contained in forward-looking information, other factors may be present. results are not as expected, estimated, or intended. There is no guarantee that such statements will be proven accurate, as actual results and future events may differ significantly from what is anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.
