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Biorem Inc V.BRM

Alternate Symbol(s):  BIRMF

Biorem Inc. is a Canada-based clean technology company. The Company designs, manufactures and distributes a line of air emissions control systems used to eliminate odors, volatile organic compounds (VOCs) and hazardous air pollutants (HAPs). It operates through one reportable segment, which involves the manufacture and sale of pollution control systems. Its solutions include BASYS and BiofiltAIR biofilter, MYTILUS biotrickling filter, multi-stage SYNERGY system, biogas desulfurization, dry scrubber adsorption systems and cannabis odor control. Its BASYS and BiofiltAIR biofilter systems are suited for odor control applications, especially when removing reduced sulfur compounds or VOCs. It offers biofiltration medias, which include BIOSORBENS, XLD, BIOPAK and BIOROLL & BIOBLOK. The Company's service solutions include system upgrades, preventative maintenance, and replacement and spare parts. Its other services dispersion modeling, permit applications and community outreach programs.


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  • Possibleidiot01X
Comment by Possibleidiot01on Jun 03, 2021 6:42pm
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Post# 33326721

RE:RE:creation of preferred shares proposed

RE:RE:creation of preferred shares proposedKnowledgeSeekr8

I don't know how much help my answer will be . Like you , I have never been part of a company that is bringing in a class of preferred shares ; I have owned shares in a company with a dual share structure which I just realized is not the same thing.
it's a very unusual move especially in a company the size of Biorem.
I do share your concern about this process - especially the lack of details. It would be nice to know
stuff like
  • Preference in dividends.
  • Preference in assets, in the event of liquidation.
  • Convertibility to common stock.
  • Callability (ability to be redeemed before it matures), at the option of the corporation. ...
  • Nonvoting or voting?
  • Higher dividend yields.


This is like giving them a blank cheque but I ended up voting for the proposal. Maybe i am an idiot?

In my world , you trust company management until given a strong reason to do so. They must have a reason to ask shareholders to give them this potential tool ( no current plans to create them) and the only reason I can come up with the company may be  planning something that requires more cash than they already have.

To answer , your question "Is there basically no way us shareholders could stop this from going through since they only need 66.7% of the vote for and the major shareholder own 61% of the commons."  My assumption is that the proposal would never have gotten into the circular if TUS was not in favour of it so I think this is a done deal.

Helpful or not ?






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