Zinc8 Energy Solutions Inc. shareholders elected Charn Deol and Sean Charland to the board of directors at the company’s annual general and special meeting of shareholders held on Dec. 16, 2020. At the meeting, shareholders voted overwhelmingly to approve a stock option plan as well as an RSU (restricted share unit) plan for the company. The shareholders also approved the company’s recommended slate of directors for the board including two existing directors: Ron MacDonald and Dave Hodge. Michael Reimann did not stand for re-election to the board of directors of the company. Zinc8 Energy Solutions would like to thank Mr. Reimann for his many contributions to the company.
“We’ve added some bench strength to the board of directors as the company continues with the development of its long-duration energy storage solution,” commented Ron MacDonald, president and chief executive officer of Zinc8 Energy Solutions. “Both Charn and Sean are great additions and their experience in the public markets will be a valuable resource for the company.”
The company also announces that over the past 12 months, the company has had a significant number of outstanding warrants exercised resulting in over $3-million in gross proceeds. The warrants were created through prior private placements. “The warrant exercises strengthen our cash position and show a vote of confidence for the company’s future prospects,” added Mr. MacDonald. “We look forward to advancing our objectives and continued success in 2021.”
As a result of the exercised warrants, the company’s total shares outstanding are now approximately 108 million.
About Zinc8 Energy Solutions Inc.
Zinc8 has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. This mass-storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power.