CORPORATE MATTERS – UPDATE
(Vancouver) Oceanic Wind Energy Inc. (TSXV-NEX: NKW.H) (“the Company) is pleased to announce that on March 26, 2024 it held its annual general meeting of shareholders (the “Meeting”). A total of 44,198,370 common shares (approximately 50.61% of the outstanding common shares) were represented at the Meeting in person or proxy.
1. Number of Directors
The number of directors was set at six (6) for the ensuing year with a vote of 43,546,300 (98.52%) “FOR”, 652,070 (1.48%) “AGAINST” and zero (0) votes “WITHHELD/ABSTAINED”.
2. Election of Directors
Each of the following individuals were elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:
| Name | Votes “For” | Votes “Against” | Votes “Withheld” |
| Philip Hughes | 41,069,304 (93.25%) | 0 (0%) | 2,972,002 (6.75%) |
| Joseph Houssian | 43,419,806 (98.59%) | 0 (0%) | 621,500 (1.41%) |
| Michael O’Connor | 43,419,806 (98.59%) | 0 (0%) | 621,500 (1.41%) |
| Peter Pastewka | 43,419,806 (98.59%) | 0 (0%) | 621,500 (1.41%) |
| David Rehn | 43,419,806 (98.59%) | 0 (0%) | 621,500 (1.41%) |
| Arthur Willms | 43,419,806 (98.59%) | 0 (0%) | 621,500 (1.41%) |
3. Appointment of Auditor, Remuneration of Auditors and Confirmation of Change of Auditors
The appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditor of the Company, to hold office until the next annual meeting of shareholders of the Company, and authorization of the directors of the Company to fix the auditor’s remuneration, was approved by a resolution passed by a vote of 43,581,775 (98.60%) total votes cast “FOR” and 616,595 (1.40%) “AGAINST” and Zero (0) “WITHHELD/ABSTAIN”.
4.Stock Option Plan
The approval of the Stock Option Plan, via disinterested shareholders, was approved by a resolution passed by a vote of 6,955,939 (91.76%) total votes cast “FOR”, 624,500 (8.24%) “AGAINST” and Zero (0) “WITHHELD/ABSTAIN”.
Other
At the first meeting of the newly constituted Board of Directors, held immediately after the Meeting, Philip Hughes was elected to serve as Chairman of the Board, Michael O’Connor, CEO and President, and Wilbur Lang, CFO, Corporate Secretary and VP Finance. The Board also elected Philip Hughes, Joseph S. Houssian, Peter Pastewka, David Rehn and Arthur Willms to serve as the Company’s Audit Committee until the next annual general meeting of the Company.
On Behalf of the Board of OCEANIC WIND ENERGY INC.
Signed “Michael O’Connor” Michael O’Connor, President & CEO
This press release has been prepared by management. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
