(TheNewswire)
TORONTO, Ontario – TheNewswire - August 12, 2024 - Hill Incorporated, formerly Hill Street Beverage Company Inc. (TSXV: HILL) ("Hill” or the "Company") is pleased to report the results of its Annual General and Special Meeting of shareholders (the “Meeting”) held on August 6, 2024 and provide an update to its loan financing announced on August 2, 2024.
AGM Results
At the Meeting, shareholders voted to re-elect the nominees listed in the management proxy circular dated July 8, 2024 (the “Circular”) as directors of the Company. Members of the Board of Directors of the Company for the ensuing year are Craig Binkley, Jack Fraser, Kevin Ruddle, Lori Senecal and Frank Vizcarra.
Shareholders at the Meeting also approved the appointment of the Company’s auditors, MNP LLP Chartered Accountants, and re-approved the Company’s Stock Option Plan for the ensuing year. Details of the Company’s Stock Option Plan is included in the Circular which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Hill management would like to thank shareholders for their participation and continuing support.
Loan Financing
Hill is also pleased to report that further to its announcement on August 2, 2024, Holdco (St. Catharines) Ltd. (“Holdco”), its largest shareholder, has now advanced CDN $250,000 (the “Loan”) to Hill’s subsidiary Hill Street Marketing Inc. The unsecured Loan will bear interest at 10% per annum and the Company has paid a commitment fee of $7,500 to Holdco on the advance of funds under the Loan. The Loan will mature on the earlier of August 9, 2025 or upon certain events occurring as set out in the Loan Agreement. The proceeds of the Loan will be used for the purchase of Vin(Zero) alcohol-free wine inventory and other general working capital related to the Company’s Vin(Zero) business.
About Hill Incorporated (TSXV: HILL)
Hill Incorporated is a progressive bioscience implementation company that is dedicated to building pathways to better and healthier living by leveraging our deep CPG expertise to commercialize leading-edge technologies to craft superior cannabis solutions and non-alcoholic beverage products globally. Our Hill Avenue Cannabis business unit is pioneering the space where craft consumer products meet bioscience by combining our deep CPG commercialization expertise with our rights to use Lexaria Bioscience Corp’s ground-breaking DehydraTECH patent portfolio for product development, licensing and B2B and B2C sales of cannabis ingredients or products on a global scale. Our Hill Street Beverages business unit represents the Company’s legacy alcohol-free consumer beverage marketing and distribution business.
For more information on our business activities visit www.hillincorporated.com, to learn more about our DehydraTECH cannabis biodelivery technology, go to www.dehydratech-thc.com, or to check out Hill Street Beverage’s award-winning alcohol-free wine line-up and order product to be delivered straight to your home, go to www.hillstreetbeverages.com.
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For more information, contact:
Craig Binkley, Chief Executive Officer
Email: craig@hillincorporated.com
Phone: 604-609-6154
FORWARD-LOOKING STATEMENTS
Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “would”, “anticipate”, “expects”, and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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