Royal Lifescience Corp. Announces Voting Results of its Shareholders' Meeting and Election of a New Director
1780 – 400 Burrard Street Vancouver, British Columbia V6B 3K1
NEWS RELEASE
Royal Lifescience Corp. Announces Voting Results of its Shareholders' Meeting and Election of a New Director
April 28, 2015 TSX Venture Exchange Trading Symbol: RLS.H
Vancouver, BC – Royal Lifescience Corp. (NEX: “RLS.H”) (the "Company") is pleased to announce the results of its Annual and Special General Meeting of Shareholders held on April 28, 2015 in Vancouver, British Columbia (the "Meeting").
The Company’s shareholders elected Messrs. Craig D. Thomas, Minaz Dhanani and Pradeep Varshney as directors of the Company. Mr. Kehong Wu was not nominated for the re-election. The Shareholders also approved the resolutions to re-appoint MNP LLP as the Company's auditors for the current fiscal year and to amend the Company's incentive stock option plan as more particularly disclosed in the Company’s information circular. In accordance with TSX Venture Exchange policies, the Company’s incentive stock option plan was amended, approved and ratified for the ensuing year.
Mr. Varshney is an accountant with current and past experience working with listed companies on the TSX Venture Exchange. Mr. Varshney completed his CGA designation through the Certified General Accountants of BC in August 2005. He was the CFO of Blind Creek Resources Ltd. from June 2008 to October 2011; CFO of Mountain Province Diamonds Inc. from 1998 to 2003; and the Chief Accounting Officer of Gee-Ten Ventures Inc. from 2004 to 2006. He was also a director of Umbral Energy Corp. (formerly Trijet Mining Corp.) from October 2007 to November 2010, a director of HFX Holding Corp. from September 2010 to December 2013, a controller for Prophecy Coal Ltd. from February 1, 2012 to August 31, 2012, and a CFO of Umbral Energy Corp. (formerly Trijet Mining Corp.) from October 25, 2007 to May 15, 2013.
In connection with the election of Mr. Varsheny, the Company and one of the Company’s current directors have agreed to transfer a total of 100,000 common shares of the Company (the “Seed Shares”) which are currently held in escrow pursuant to the TSX Venture Exchange requirements to Mr. Varsheny at a price of $0.05 per Seed Share (the “Escrow Transfer”). The current directors of the Company will retain an aggregate of 900,000 Seed Shares which are subject to escrow. The Escrow Transfer is subject to the approval of the TSX Venture Exchange.
About the Company
The Company is designated as a Capital Pool Company by the Exchange. The Company has not commenced commercial operations and has no assets other than cash. The only business of the Company is the identification and evaluation of assets or businesses with a view to completing a "Qualifying Transaction" in accordance with Exchange Policy 2.4 - Capital Pool Companies.
On behalf of the Board of Directors
“Craig D. Thomas”
Craig D. Thomas Chief Executive Officer, Chief Financial Officer, Director
For further information please contact:
Craig D. Thomas Telephone: (604) 688-6775
Neither the TSX Venture Exchange not its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.