Wavefront shareholders elect six directors at AGM

2013-02-22 17:38 ET - News Release


Mr. Brad Paterson reports


Wavefront Technology Solutions Inc. shareholders have re-elected Brett Davidson, D. Brad Paterson, Dennis Minano, Steven Percy and Roger Kazanowski as directors, and have elected Mark Bernard as a new member of the board of directors. Wavefront would like to thank two former directors, Jeff Saponja and John Zahary, who did not stand for re-election, for their contributions to the company.

Wavefront would also like to announce that all resolutions put forward in the proxy at the annual and special shareholder meeting of Wavefront were passed by shareholders, including confirmation of Wavefront's existing shareholder rights plan, first approved by shareholders in 2010, and the amendment of Wavefront's bylaws to include advance notice provisions, all as described in Wavefront's information circular, which is available on SEDAR.

The company also announces that it will file, in accordance with TSX Venture Exchange policy, a summary form disclosing the granting of an aggregate of 675,000 incentive stock options to employees and directors of the company pursuant to Wavefront's stock option plan. Of the 675,000 incentive stock options being issued, 310,000 are being issued to directors of the company. The options will be exercisable at 38 cents per share, or such other price as allowed by the TSX Venture Exchange, for a period of five years. In accordance with Wavefront's stock option plan and exchange policy, the incentive stock options are subject to a hold period of four months and a vesting period of 18 months.