NEW YORK, Jan. 28, 2022 (GLOBE NEWSWIRE) — Logiq, Inc. (NEO: LGIQ), a worldwide supplier of award-winning shopper acquisition options, right this moment reported that Pursuant to Part 13 or 15(d) of the US Securities Change Act of 1934, and the Canadian Securities Administration (CSA) Nationwide Coverage NP – 51- 201 (Ontario) – Disclosure Requirements, it’s reporting the next company governance and finance issues.

The Firm studies that it has happy the necessities of Canada’s Toronto-based New Inventory Change (NEO) for disclosure of the voting outcomes from its Jan. 25 particular assembly of shareholders, together with the next gadgets:

Merchandise 5.02 Departure of Administrators or Sure Officers; Election of Administrators; Appointment of Sure Officers; Compensatory Preparations of Sure Officers

As described in Merchandise 5.07 beneath, on January 25, 2022, on the particular assembly of stockholders (the “Particular Assembly”) of Logiq, Inc. (the “Firm”), the Firm’s stockholders permitted its Second Amended and Restated 2020 Fairness Incentive Plan (the “Second A&R Plan”).

As beforehand disclosed in that Present Report on Kind 8-Okay filed by the Firm with the Securities and Change Fee (the “Fee”) on April 27, 2021, on April 21, 2021 the Firm amended and restated its 2020 Fairness Incentive Plan (the “Plan”), topic to stockholder approval, to supply that inventory choices issued beneath the plan (i) will not be transferred and (ii) might not have an train value lower than the truthful market worth (“FMV”) of such inventory choices as of the grant date. Pursuant to such modification (the “First A&R Plan”), FMV shall be decided as follows: (i) if the Firm’s widespread inventory is then listed or admitted to buying and selling on a nationwide inventory alternate, the FMV shall be both (x) the five-day quantity weighted common buying and selling value, calculated by dividing the overall worth by the overall quantity of securities traded on a nationwide inventory alternate for the related interval, or (y) the closing value of the Firm’s widespread inventory on a nationwide inventory alternate on the earlier buying and selling day previous to the date of grant of the award; or (y) if the Firm’s widespread inventory is just not then listed or admitted to buying and selling on a nationwide inventory alternate, the FMV shall be a value decided by the administrator of the First A&R Plan in good religion utilizing any cheap technique of valuation.

On October 22, 2021, the Firm’s board of administrators (the “Board”) unanimously permitted the Second A&R Plan, topic to stockholder approval. The Second A&R Plan amends the Firm’s Plan to (i) incorporate these modifications beforehand included within the First A&R Plan and (ii) improve the variety of shares of widespread inventory licensed for issuance thereunder from 2,000,000 shares to five,000,000 shares.

Further data relating to the Second A&R Plan is about forth within the Firm’s Definitive Proxy Assertion on Schedule 14A (the “Proxy Assertion”) filed by the Firm with the Fee on November 5, 2021, which data is integrated herein by reference. Such data and the foregoing description of the Second A&R Plan don’t purport to be full and are certified of their entirety by reference to the complete textual content of the Firm’s Second A&R Plan, a replica of which is hooked up to this Present Report on Kind 8-Okay (“Present Report”) as Exhibit 10.1 and is integrated herein by reference.

Merchandise 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Yr

On January 25, 2022, following the Particular Assembly, the Firm adopted its First Amended and Restated Bylaws (the “A&R Bylaws”). The A&R Bylaws have been beforehand permitted by the Firm’s Board, topic to stockholder approval, on October 22, 2021, and have been permitted by the Firm’s stockholders on the Particular Assembly. See Merchandise 5.07, beneath, for added data relating to the outcomes of the Particular Assembly.

Further data relating to the Firm’s A&R Bylaws, together with the phrases thereof, is about forth within the Proxy Assertion, which data is integrated herein by reference. Such data and the foregoing description of the A&R Bylaws don’t purport to be full and are certified of their entirety by reference to the complete textual content of the A&R Bylaws, a replica of which is hooked up to this Present Report as Exhibit 3.1 and is integrated herein by reference.

Merchandise 5.07 Submission of Issues to a Vote of Safety Holders:

On January 25, 2022, the Firm held the Particular Assembly in a digital format. The Particular Assembly was initially scheduled to be held on December 20, 2021, however, because of the lack of a quorum, was adjourned on such date after which once more on January 18, 2022 so as to solicit extra proxies to satisfy the quorum requirement. On the Particular Assembly, 13,369,163 of the 26,310,757 excellent shares of widespread inventory entitled to vote, or roughly 50.81%, as of the document date, October 25, 2021, have been current or represented by proxy.

The proposals voted on on the Particular Assembly are extra totally described within the Proxy Assertion. The ultimate voting outcomes on the proposals introduced for stockholder approval on the Particular Assembly have been as follows:

Proposal No. 1: The Firm’s stockholders elected eight administrators, every to serve till the Firm’s subsequent annual assembly of stockholders or till their successors are duly elected and certified, topic to prior dying, resignation, or elimination, as follows:

Nominees

Votes For

Votes
Withheld

Dealer Non-Votes

Brent Suen

9,054,812

77,335

4,237,016

Lionel Choong

9,049,686

82,461

4,237,016

John MacNeil

9,050,501

81,646

4,237,016

Matthew Burlage

9,050,520

81,627

4,237,016

Joshua Jacobs

8,876,138

256,009

4,237,016

Brett Lay

9,051,470

80,677

4,237,016

Ross O’Brien

9,050,068

82,079

4,237,016

Lea Hickman

9,051,632

80,515

4,237,016

Proposal No. 2: Though considerably extra of the Firm’s stockholders voted in favor of the Firm’s proposal to amend, restate, and change the Firm’s present Certificates of Incorporation (as amended thus far, the “Current Constitution”) in its entirety by the First Amended and Restated Certificates of Incorporation (the “First A&R Constitution”) (the “Constitution Modification”) than in opposition to it, this proposal required the affirmative vote in favor of the Constitution Modification by holders of a majority of the Firm’s excellent shares of widespread inventory, or no less than 13,155,379 shares, to go. As a result of the Firm didn’t obtain the requisite variety of votes in favors of the Constitution Modification, the Firm’s stockholders did not approve the Constitution Modification, as follows:

Votes For

Votes
In opposition to

Abstentions

Dealer Non-Votes

8,971,537

120,816

39,794

4,237,016

Because of this, the Current Constitution stays in full drive and impact, and the First A&R Constitution won’t be adopted by the Firm.

Proposal No. 3: The Firm’s stockholders licensed and permitted that the Firm’s present Bylaws, as amended thus far, be amended, restated, and changed of their entirety by the A&R Bylaws, as follows:

Votes For

Votes
In opposition to

Abstentions

Dealer Non-Votes

8,974,613

78,876

78,658

4,237,016

Proposal No. 4: The Firm’s stockholders permitted the adoption of the Firm’s Second A&R Plan, as follows:

Votes For

Votes
In opposition to

Abstentions

Dealer Non-Votes

8,955,305

82,171

94,671

4,237,016

Proposal No. 5: The Firm’s stockholders ratified the appointment of Centurion ZD CPA & Co. because the Firm’s unbiased registered public accounting agency for the fiscal yr ending December 31, 2021, as follows:

Votes For

Votes In opposition to

Abstentions

12,948,834

222,403

197,926

Proposal No. 6: The Firm’s stockholders permitted, on a non-binding advisory foundation, named govt officer compensation, as follows:

Votes For

Votes In opposition to

Abstentions

Dealer Non-Votes

8,808,617

94,896

228,634

4,237,016

Proposal No. 7: The Firm’s stockholders permitted, on a non-binding advisory foundation, the frequency of three years for the stockholder advisory vote to approve named govt officer compensation, as follows:

1 Yr

2 Years

3 Years

Abstentions

Dealer Non-Votes

2,229,376

301,737

6,085,137

515,897

4,237,016

Primarily based on these advisory vote outcomes, the Board has decided that the Firm will maintain a stockholder advisory vote on named govt officer compensation each three years till the subsequent required vote on the frequency of future govt compensation votes. Because of this, the Firm expects that the subsequent advisory vote on the compensation of the Firm’s named govt officers can be submitted to stockholders on the Firm’s annual assembly of stockholders in 2024.

Full particulars, together with displays, can be found without charge at: https://www.sec.gov/ix?doc=/Archives/edgar/information/0001335112/000121390022003642/ea154496-8k_logiqinc.htm

Individually, the Firm studies that it has engaged Toronto-based Analysis Capital Company (“RCC” or the “Advisor”) as a monetary and capital markets advisor to the Firm. The service settlement consists of offering recommendation and help in reference to defining strategic and monetary targets, making preliminary contacts with potential institutional and strategic buyers, sustaining an everyday dialogue with the Firm with reference to company improvement, strategic progress targets in addition to basic market sentiment, offering market liquidity companies within the Firm’s shares and rising market consciousness of the Firm.

As a part of the compensation for its companies, RCC will obtain a month-to-month price of $10,000 for its buying and selling advisory companies for no less than six months with extension by mutual settlement and a monetary advisory price payable by means of issuing 125,000 widespread shares within the capital of the Firm. The issuance together with, however not restricted to, the value of the widespread shares of the Firm is topic to the foundations of the NEO and stays topic to relevant regulatory approvals.

About Logiq
Logiq, Inc. is a number one supplier shopper acquisition options to manufacturers and businesses. The Firm’s Shopper Market gives data-driven lead era companies throughout greater than 14 market verticals, from residence restore and insurance coverage to mortgage lending and refinancing.

The Firm’s Digital Advertising and marketing enterprise features a holistic, self-serve advert tech platform. Its proprietary data-driven, AI-powered options permits manufacturers and businesses to promote throughout hundreds of the world’s main digital and related TV publishers.

Logiq’s Lovarra subsidiary, a totally reporting U.S. public firm listed on the OTC Markets, not too long ago acquired the Firm’s AppLogiq belongings. This consists of CreateApp™, the award-winning software-as-a- service (SaaS) platform that permits small and medium-sized companies worldwide to simply create and deploy a local cellular app for his or her enterprise. AppLogiq additionally consists of platforms for cellular funds and meals supply, and the licenses of its applied sciences to 3rd events. Logiq is planning a mid-2022 distribution of Lovarra to Logiq’s shareholders of document on December 30, 2021.

Join with Logiq: Web site | LinkedIn | Twitter| Fb.

Essential Cautions Concerning Ahead Wanting Statements
This press launch incorporates sure forward-looking statements and data, as outlined throughout the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Change Act of 1934 and is topic to the Protected Harbor created by these sections. This press launch additionally incorporates forward-looking statements and forward-looking data throughout the that means of Canadian securities laws that relate to Logiq’s present expectations and views of future occasions. Any statements that categorical, or contain discussions as to, expectations, beliefs, plans, targets, assumptions or future occasions or efficiency (typically, however not all the time, via using phrases or phrases reminiscent of “will doubtless consequence”, “are anticipated to”, “expects”, “will proceed”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “technique”, “goal” and “outlook”) usually are not historic details and could also be forward- wanting statements and will contain estimates, assumptions and uncertainties which might trigger precise outcomes or outcomes to vary materially from these expressed in such forward-looking statements. No assurance might be provided that these expectations will show to be appropriate and such forward-looking statements included on this press launch shouldn’t be unduly relied upon.

These statements converse solely as of the date of this press launch. Ahead-looking statements are based mostly on numerous assumptions and are topic to numerous dangers and uncertainties, a lot of that are past Logiq’s management, which might trigger precise outcomes and occasions to vary materially from these which might be disclosed in or implied by such forward-looking statements. Specifically and with out limitation, this press launch incorporates forward-looking statements relating to our services, the use and/or ongoing demand for our services, expectations relating to our income and the income era potential of our services, our partnerships and strategic alliances, the impression of world pandemics (together with COVID-19) on the demand for our services, trade tendencies, total market progress charges, our progress methods, the continued progress of the addressable markets for our merchandise and options, our enterprise plans and methods, the taxable nature of such transaction and the flexibility to acquire FINRA approval of such inventory dividend, together with, with out limitation, our capacity to efficiently find and consummate the contemplated strategic transactions, the construction of any such transaction, timing of such transaction, and the valuation of the companies after completion of any such transaction, if any, and different dangers described within the Firm’s prior press releases and in its filings with the Securities and Change Fee (SEC) together with its Annual Report on Kind 10-Okay and any subsequent public filings, and filings made pursuant to Canadian securities laws which might be obtainable on www.sedar.com, together with beneath the heading “Threat Elements” within the Firm’s Canadian Prospectus.

Logiq undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case, besides as could also be required by regulation. New elements emerge once in a while, and it’s not attainable for Logiq to foretell all of them, or assess the impression of every such issue or the extent to which any issue, or mixture of things, might trigger outcomes to vary materially from these contained in any forward-looking assertion. Any forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion.

Firm Contact
Brent Suen, President
Logiq, Inc.
E mail contact

Media & Investor Contact
800-764-1238
[email protected]

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