TORONTO, July 10, 2020 /CNW/ - Horizon North Logistics Inc. ("Horizon North" or the "Corporation") (TSX: HNL.TO) reported that all matters presented for approval at its annual and special meeting of shareholders held virtually on July 10, 2020 (the "Meeting") were approved. Each of the matters voted upon at the Meeting is discussed in detail in the Corporation's management information circular dated June 5, 2020, which is available on SEDAR at www.sedar.com and on the Corporation's website at www.horizonnorth.ca.
A total of 232,928,040 common shares representing 71.81% of the Corporation's issued and outstanding common shares were voted by ballot and by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:
1. Election of Directors
Each of the Corporation's eight nominees was elected as a director of Horizon North to hold office until the next annual meeting of shareholders or until their successors are elected or appointed, unless such office is earlier vacated in accordance with the by-laws of the Corporation:
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld |
| Mary Garden | 232,245,737 | 99.82 | 423,982 | 0.18 |
| Rod W. Graham | 232,300,499 | 99.84 | 369,220 | 0.16 |
| David Johnston | 232,377,827 | 99.87 | 291,892 | 0.13 |
| Simon Landy | 232,419,719 | 99.89 | 250,000 | 0.11 |
| John MacCuish | 232,383,769 | 99.88 | 285,950 | 0.12 |
| R. William McFarland | 232,359,477 | 99.87 | 310,242 | 0.13 |
| Kevin D. Nabholz | 218,951,230 | 94.10 | 13,718,489 | 5.90 |
| Russell Newmark | 232,339,169 | 99.86 | 330,550 | 0.14 |
2. Appointment of Auditor
PricewaterhouseCoopers LLP, Chartered Professional Accountants, was appointed to serve as the auditor of the Corporation until the close of the next annual meeting, at remuneration to be fixed by the Board of Directors with 99.96 % of votes in favour.
3. Approval of Amended and Restated By-Laws
An ordinary resolution to ratify and confirm the Corporation's amended and restated bylaws, including advance notice provisions, was approved with an approximate 99.96 % of votes cast in favour.
4. Approval of Share Consolidation
A special resolution (the "Share Consolidation Resolution") authorizing the consolidation (the "Consolidation") of the Corporation's issued and outstanding common shares ("Common Shares") on the basis of one (1) new post-Consolidation Common Share for every five (5) pre-Consolidation Common Shares was approved with an approximate 99.91 % of votes cast in favour.
Following Shareholder approval, the Corporation filed articles of amendment implementing the Consolidation. The post-Consolidation Common Shares will continue to be listed on the Toronto Stock Exchange (TSX) under the trading symbol "HNL.TO" and are expected to commence trading on a post-Consolidation basis within two or four business days. Following the Consolidation, the Corporation expects to have approximately 64,869,374 Common Shares issued and outstanding. Since no fractional Common Shares will be issued in connection with the Consolidation, the exact number of outstanding Common Shares after the Consolidation will vary based on the elimination of fractional shares. In lieu of fractional Common Shares, each registered Shareholder of the Corporation otherwise entitled to a fractional Common Share following the implementation of the Consolidation will receive the nearest whole number of post-Consolidation Common Shares. In calculating such fractional interests, all pre-Consolidation Common Shares registered in the name of or beneficially held by such Shareholder or their nominee shall be aggregated.