VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- Western Pacific Trust Company (the "Company") (TSXV:WP) is pleased to report following the Company's Annual General and Special Meeting, held on May 31, 2023, Shareholders of the Company voted in favour of management's director nominees, re-appointment of the auditors and the Company's new 20% "fixed" stock option plan ("Option Plan").
The Board of Directors approved the new Option Plan on January 18, 2023, subject to regulatory and shareholder approval. The Option Plan is in compliance with the new share-based compensation policy adopted by the TSX Venture Exchange in November 2021, and supersedes the previous stock option plan. There were no options outstanding under the superseded stock option plan.
The Option Plan is a 20% "fixed" stock option plan which governs the granting of stock options to directors, officers, employees and consultants of the Company for the purchase of up to 20% of the issued and outstanding common shares in the capital of the Company (the "Common Shares"). The maximum aggregate number of Common Shares issuable under the Option Plan is 5,258,711.
About Western Pacific Trust Company
Western Pacific Trust Company is a non-deposit taking trust company, licensed under the Financial Institutions Act in British Columbia, and registered extra-provincially in Alberta, as a non-deposit taking Trust Company.
For further information, please contact Alison Alfer, President at:
Tel: (604) 683-0455
On Behalf of the Board,
WESTERN PACIFIC TRUST COMPANY
/s/ Alison Alfer
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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