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Ascent Industries shareholders pass all resolutions at special general meeting

Shareholders have set the number of directors at five and passed all resolutions at the special general meeting held Tuesday in Vancouver

cannabis leaf
Ascent's operations include facilities in Oregon and Nevada

Ascent Industries Corp (CSE:ASNT) (OTCMKTS:PGTMF) said Wednesday all resolutions were passed at its special general meeting, held Tuesday in Vancouver. 

Shareholders voted to have the number of directors set at five, electing Paul Dillman, Mark Lotz, David Hurford, Jeremy South and Mahony Cai.

In a statement, the firm said following the meeting, the board re-appointed Paul Dillman as CEO, Mark Lotz as CFO and Jeremy South appointed non-executive Chairman of the Board, who will remain in these positions until Ascent's annual general meeting, which will be held later in the fall. 

READ: Ascent Industries Corp nabs major crime expert as new independent director

The firm noted that the board also appointed Rod Kirkham as corporate secretary of the company.

At the special general meeting, Dillman provided a shareholder presentation, which will be posted on Ascent's website. 

Ascent's operations include facilities in Oregon and Nevada. In the US, the firm holds processing and distributions licences in Oregon and cultivation, production, processing and wholesale distribution of cannabis in Nevada. In Europe, Ascent has a wholly-owned subsidiary, Danish company Agrima ApS. 

CCAA processing update

Ascent is currently involved in proceedings under the Companies Creditors Arrangement Act (CCAA).

The firm said it is in the process of reviewing all filed claims with the monitor, which has a deadline of June 28, 2019. The firm said it anticipates its next court hearing in the CCAA proceeding will be on July 5 and "Ascent will seek a short extension to allow it to conclude the CCAA process," noted the company. 

Contact Katie Lewis at katie@proactiveinvestors.com

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