Vancouver, British Columbia--(Newsfile Corp. - January 5, 2021) - China Keli Electric Company Ltd. (NEX: ZKL.H) (the "Company") announces today the results of its annual general and special meeting held on December 30, 2020 (the "Meeting").
At the Meeting, the Company elected Sou Wa Wong, Philip Lo and George Dorin as the new directors of the Company. A fourth nominee for election as a director, Alan Chan, was not elected at the Meeting pending the revocation of the outstanding cease trade order against the Company (the "CTO"). It is expected that the directors will appoint Mr. Chan to the board of the Company following the revocation of the CTO.
The Company has applied to the British Columbia Securities Commission for the full revocation of the CTO. In connection therewith, audited financial statements, MD&A thereon and certifications thereto for the financial years ended April 30, 2019 and April 30, 2020 have been filed on SEDAR. In addition, interim financial statements, MD&A thereon and certifications thereto for the interim periods ended July 31, 2020 and October 31, 2020 have also been filed on SEDAR.
All other items proposed at the Meeting were also approved including the appointment of K.R. Margetson Ltd. as auditors, the approval of the Company's stock option plan, and the approval of the 20:1 consolidation of the Company's common shares.
Following the Meeting, the directors met to, among other things, appoint the officers. Based on the Company's current minimal operations, and to streamline management, Philip Lo was appointed as the CEO, CFO and Corporate Secretary of the Company.
For further information, please contact:
CHINA KELI ELECTRIC COMPANY LTD.
Philip Lo, Chief Executive Officer
Tel. No.: (86) 13632 173732
This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about Keli's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada. All amounts are stated in Canadian dollars unless noted otherwise.
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