MTY Food Group Inc. Announces Results from 2019 Annual General and Special Meeting and Adoption of an Advance Notice By-law

MONTREAL, May 3, 2019 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of multiple concepts of restaurants, is pleased to announce that all matters set out in the management information circular dated March 28, 2019 for the 2019 Annual General and Special Meeting of Shareholders held on Thursday May 2, 2019 (the ''Meeting'') were approved by shareholders. Over 17,939,622 shares were voted representing 71.27% of the outstanding shares of the Company.

The following seven nominees were re-elected as directors of MTY. The detailed results of the vote for the election of directors are set out below:

The Company's shareholders also approved the appointment of PricewaterhouseCoopers, LLP, Chartered Professional Accountants, as Auditor of the Company for the fiscal year ending November 30, 2019.

Furthermore, the Company's shareholders ratified and confirmed the adoption of an advance notice by-law. The Advance Notice By-Law fixes a deadline by which holders of record of shares must submit, in writing, nominations for directors to the Corporate Secretary of MTY prior to any annual or special meeting of Shareholders and sets forth the proper form that such nominations must follow in order to be effective. To be timely, the nominations must be made: (i) in the case of an annual meeting of Shareholders, not less than 30 days prior to the date of the annual meeting of Shareholders; provided, however, that in the event the annual meeting of shareholders is to be held on a date that is less than 50 days after the date (the "Notice Date") on which the first public announcement of the date of the annual meeting was made, notice by the Nominating Shareholder may be made not later than the close of business on the 10th day following the Notice Date; and (ii) in the case of a special meeting (which is not also an annual meeting) of Shareholders called for the purpose of electing directors (whether or not called for other purposes), not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting of shareholders was made.

Each of the matters voted at the Meeting is discussed in detail in the Company's Management Information Circular dated March 28, 2019. These can be found on SEDAR at www.sedar.com under the Company's profile for public filings. Final voting results on all matters voted at the Meeting will be filed on SEDAR at www.sedar.com under the Company's profile for public filings.

The Board of Directors re-elected Mr. Stanley Ma, as Chairman of the Board and President of the Company, Mr. Eric Lefebvre as CEO of the Company, Ms. Claude St-Pierre as Secretary of the Company and Mrs. Renée St-Onge as CFO of the Company. Mr. Dickie Orr, Mr. David Wong, Mr. Murat Armutlu and Mr. Gary O'Connor were re-elected as members of the Company's Audit Committee. Mr. Gary O'Connor was elected as Chairman of the Audit Committee.

Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Company's Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
MTY Food Group Inc.

_____________________________________
Eric Lefebvre, CEO

SOURCE MTY Food Group Inc.

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