Toronto, Ontario - March 16, 2021 - Compel Capital Corp. o/a ScreenPro Security Inc. (CSE: SCRN) ("ScreenPro" or "Company") is pleased to announce that, further to its press release dated March 5, 2021 ("RTO Press Release") announcing a proposed reverse take-over transaction ("Proposed Transaction") with ScreenPro Security Ltd. ("ScreenPro"), shareholders of the Company have approved all items of business at its annual general and special meeting of shareholders today.
As noted in the RTO Press Release, on closing of the Proposed Transaction, the current directors and officers of the Company will resign and board of directors of the resulting entity (the "Resulting Issuer") will consist of four (4) directors nominated by ScreenPro. The four (4) new directors are John McMullen, Richard Yoon, James Hyland, and Youncho Lee.
In addition, the Resulting Issuer will implement the following:
Change its name to "ScreenPro Security Ltd." or such other name as the board of directors of the Resulting Issuer may choose; and,
Change auditors from RSM Canada LLP to SRCO Professional Corporation.
Shareholders of the Company also approved a special resolution authorizing a consolidation of the Company's issued and outstanding common shares on the basis of one (1) new share for up to fifteen (15) old shares, at the sole discretion of the board of directors. At this time, the incoming board of ScreenPro directors do not intend to give effect to any share consolidation.
ScreenPro provides turnkey coronavirus screening solutions to the private sector. ScreenPro's unique access to multiple manufacturers of high quality South Korean test kits and its strategic partnership with Canvas Labs in Vancouver and Integrated Explorations in Ontario. This platform allows ScreenPro to be a nationwide provider of a full-service testing solutions across Canada. In addition to providing test kits, ScreenPro has its own pool of certified nursing professionals, and access to high quality PPE to ensure that its clients are protected in all aspects of their testing needs.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com.
Neither the Canadian Securities Exchange (the "CSE") nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
John McMullen Email: email@example.com
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to expectations regarding the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.