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VANCOUVER, BC / ACCESSWIRE / December 21, 2020 / ZoomAway Travel Inc. (TSXV:ZMA)(OTCQB:ZMWYF) (the “Company” or “ZMA“) www.zoomaway.com, is pleased to announce the results of its Annual and Special Meetings of Shareholders held on December 16, 2020 (the “Meeting“). All matters submitted to the shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular dated November 18, 2020 were approved by an overwhelming majority of votes cast at the Meeting. In summation:
Number of Directors
Shareholders approved the fixing of the number of directors to be elected at the Meeting at six.
Election of Directors
Sean Schaeffer (President and CEO) and Steve Rosenthal (CFO) were both retained as directors of the Company. In addition, four new directors were elected by shareholders, namely: Jay Bala, Alex Kanayev, Mason Shan, and Josh Almario.
Appointment of Auditors
Davidson & Co. LLP were reappointed as Auditors of the Company for the ensuing year with their remuneration to be fixed by the Board of Directors.
Reconfirmation of the Company’s Share Option Plan
Shareholders approved the Company’s “rolling 10%” share option plan.
Name Change of the Company
Shareholders adopted a special resolution approving the ability for the Company to change its name to “ZoomAway Technologies Inc.” or such other name that may be acceptable to the regulatory authorities and approved by the directors of the Company in their discretion.
New Loan Facility
Disinterested shareholders approved a new US$5 million loan facility with AIP Convertible Private Debt Fund L.P. (“AIP“).
Settlement of AIP Debt and the Creation of a New “Control Person”
Finally, the settlement of $985,750 of debt currently held by AIP through the issuance by the Company of common shares and warrants to AIP and the creation of AIP as a new “Control Person” (as such term is defined in the policies of the TSX Venture Exchange) of the Company were approved by disinterested shareholders.
Sean Schaeffer, Company CEO stated, “First I would like to thank our outgoing directors, Mark Riden and Christa Jones. They have been incredible to work with. They have both made amazing contributions to the Company over the last few years, and I am personally indebted to their kindness and knowledge. I would like to welcome our new board members, as well, and am looking forward to learning from them and leaning on their experiences in the upcoming years.” Schaeffer continued, “As for the other major items on this year’s docket, I want to thank our partners at AIP for their belief in us over the last two years and for their vision and commitment to this Company going forward. I truly believe that there are great things on the horizon for all ZoomAway shareholders.”
For more information on the matters approved at the Meeting, please refer to the proxy materials in respect of the Meeting which are available on SEDAR at www.sedar.com and have also been posted on the Company’s website at www.zoomaway.com.
ZoomAway, Inc. (Nevada Co.) Zoomaway Travel Inc. is a technology company that is revolutionizing the Hospitality and Travel Industries. We have developed a variety of software solutions that enhance the planning and engagement of everyday tourists. Our flagship project, ZoomedOUT, is a complete modernization and re-imagination of mobile travel apps. In a full 3D environment, we are able to integrate planning, booking, social media, and camaraderie into a tangibly rewarding experience. We are combining Travel, Hospitality, Mobile Gaming and Augmented Reality to change the way users travel into 2020 and beyond. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: ZoomAway Travel Inc.
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