October 30, 2019 – Vancouver, BC – Geyser Brands Inc. (formerly Kanzen Capital Corp.) (TSX-V: GYSR) (“Geyser Brands” or the “Company”) reports that all resolutions were passed by the requisite majority at its Annual General Meeting (“AGM”) held in Vancouver, B.C., on October 30, 2019.
A total of 20,723,189 common shares were represented at the AGM, representing 67.95% of the votes attached to the 30,495,746 issued and outstanding shares as at the record date of September 25, 2019. All of the matters submitted to the shareholders for approval as set out in the Company’s notice of meeting and management information circular dated September 25, 2019, were approved by the requisite majority of votes cast at the AGM.
Shareholders voted in favour of setting the numbers of directors at seven and the following nominees, Andreas Thatcher, Dr. Bin Huang, Aerock Fox, Bradley Kersch, Robert Trenaman, Frank Palmer and Timothy Murphy, listed in the management information circular, were elected as directors of Geyser Brands. Buckley Dodd LLP was re-appointed as the auditor of the Company for the ensuing year and shareholders approved the 10% rolling Stock Option Plan that was adopted on July 9, 2018.
Following the annual general meeting, the board of directors appointed Carlo Valente to its board and re-appointed Andreas Thatcher as CEO, Gordon Clissold as CFO, Bradley Kersch as Chairman and Jennifer Hanson as Corporate Secretary.
The Company announces that, pursuant to its stock option plan, it has granted stock options to certain directors, officers, and consultants of the Company to purchase an aggregate of up to 1,590,462 common shares in the capital of the Company at an exercise price of $0.41 per share, expiring on October 30, 2024. Following this stock option grant, the Company has a total of 1,920,462 outstanding representing approximately 6.30% of the outstanding common shares of the Company on a fully diluted basis. All option grants are subject to approval of the TSX Venture Exchange.
In addition, Geyser Brands has engaged 2686362 Ontario Corporation (DBA “CanaCom Group”) to advise and support capital markets communications with both traditional and online initiatives targeting the investment community and the investing public. The agreement with CanaCom is for one year effective October 7, 2019. The total remuneration payable to CanaCom will be $120,000 plus GST. In addition, CanaCom has been granted 300,000 stock options with an exercise price of $0.41, expiring five years from the grant date. Aside from the grant of stock options, neither CanaCom, nor any of its principals, have an ownership interest, directly or indirectly, in the company or its securities. The agreement is subject to the approval of the TSX Venture Exchange.
ABOUT GEYSER BRANDS
Geyser Brands Inc. is a consumer health and wellness company operating within the Canadian cannabis industry. Geyser’s proprietary delivery technologies include all natural nano-technology, slow-release mechanisms, and non-molecule degrading baking processes. The Company provides expertise from conceptual innovation to manufacturing and end-use distribution. Geyser owns a suite of several brands within the consumer-packaged goods market that are offered nationwide at many recognized retailers. Geyser Brands owns a Health Canada approved Licensed Production Facility and operates 15,000 sqft of manufacturing space in two GMP facilities near Vancouver, BC.
For more information, visit the company’s website at www.geyserbrands.com.
On Behalf of the Board of Directors
Director and CEO