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The North West Company Inc. Announces the Closing of the Acquisition of North Star Air and Reports on Voting Results from its 2017 Annual General and Special Meeting of Shareholders
Winnipeg, Manitoba, June 15, 2017 (TSX: NWC): The North West Company Inc. (“North West”) has closed its previously announced acquisition of North Star Air Ltd.
North West also confirms the voting results from its Annual General and Special Meeting of shareholders held on June 14, 2017 in Winnipeg, Manitoba. The requisite number of shareholders voted in favour of all items of business.
In order to address the Canadian ownership limits of the Canada Transportation Act, the shareholders approved the conversion of North West common shares to Variable Voting Shares, if owned or controlled by non-Canadians, and Common Voting Shares, if owned and controlled by Canadians. North West has filed articles of amendment pursuant to which two new classes of shares were created on June 15, 2017. The new classes of shares are expected to be substituted for trading on the Toronto Stock Exchange at the opening of trading on June 20, 2017 under the single ticker designated “NWC”.
The voting results for the election of directors is as follows:
|Nominee||Votes||% For||Votes||% Withheld||Outcome|
|H. Sanford Riley||25,500,420||96.30%||979,784||3.70%||Carried|
|Frank J. Coleman||25,652,279||96.87%||827,925||3.13%||Carried|
|Wendy F. Evans||26,213,638||98.99%||266,566||1.01%||Carried|
|Edward S. Kennedy||25,809,935||97.47%||670,269||2.53%||Carried|
|Robert J. Kennedy||25,400,470||95.92%||1,079,734||4.08%||Carried|
|Violet (Vi) A.M. Konkle||26,438,723||99.84%||41,481||0.16%||Carried|
|Eric L. Stefanson||25,922,823||97.90%||557,381||2.10%||Carried|
About North West
The North West Company Inc., through its subsidiaries, is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. North West operates 241 stores under the trading names Northern, NorthMart, Giant Tiger, Alaska Commercial Company, Cost-U-Less and RiteWay Food Markets and has annualized sales of approximately CAD$1.8 billion.
The common shares of North West trade on the Toronto Stock Exchange under the symbol “NWC”.
For more information contact:
Paulina Hiebert, Vice President, Legal and Corporate Secretary, The North West Company Inc. Phone 204-934-1756; fax 204-934-1317; email email@example.com
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