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VANCOUVER, British Columbia, Aug. 22, 2018 (GLOBE NEWSWIRE) -- GAR Limited (“NETC” or the “Company”) (CSE: NETC; OTC: GARLF) is pleased to announce that all matters presented to shareholders at its annual general and special meeting held on August 21, 2018 were duly approved and authorized, including:

  1. Setting the number of directors at six (6) and the re-election of Mark Binns, Michael Vogel, Desmond M. Balakrishnan, and Mark Healy as directors of the Company for the ensuing year and the election of Alex Tong and Kevin Ma, as new directors of the Company for the ensuing year.             

    Mr. Tong is currently a Partner and Director of Calibre Capital Corp., a private merchant bank and advisory firm.  Mr. Tong has over 17 years of experience in finance, including 12 years in financing, management and administration of mining operations and development projects in North America, Africa and other jurisdictions. He has been involved with numerous financings and acquisitions and has listed companies on both the TSX and NYSE. He was previously the Director of Finance for Lucara Diamond Corp. He holds a Canadian Chartered Accountant designation from the Institute of Chartered Accountants of British Columbia.            

    Mr. Ma is currently the Chief Financial Officer of the Company and the Principal and Founder of Skanderbeg Financial Advisory Inc., which provides corporate finance, strategic go-public and management advisory services to public and private companies.  Most recently Mr. Ma advised and executed First Cobalt Corp.’s $103 million three-way merger with Cobalt One Limited and Cobaltech Inc. and a $93 million acquisition of US Cobalt Inc.  Mr. Ma has over 15 years of experience in corporate finance, mergers & acquisitions, senior executive advisory, and working with TSX and NYSE listed companies.  Mr. Ma has completed over $250 million in corporate financings, include debt, equity, and metal streaming.  Mr. Ma is currently serving several public companies as an executive officer and director.  Mr. Ma is a Chartered Accountant certified by the Institute of Chartered Professional Accountants of British Columbia and holds a Diploma in Accounting and Bachelor of Arts degree from the University of British Columbia.
  1. The appointment of MNP LLP, Chartered Accountants as the Company’s accountants for the ensuing year and the authorization that the board fix their remuneration.
     
  2. The Company’s change of name from “GAR Limited” to “Netcoins Holdings Inc.” or such other name as may be determined by the board of directors.
     
  3. The Company’s continuation into the province of British Columbia from the province of Ontario.
     
  4. The adoption of a restricted share unit plan, whereby certain directors, officers, consultants and other key employees of the Company and its related entities will have the opportunity to acquire restricted share units of the Company and participate in its long-term success.
     
  5. The ratification and correction of past acts and deeds since the Company’s previous annual general meeting held on September 27, 2018.

The Company intends on effecting the name change and continuation in the coming weeks.

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Binns,
CEO and Director

For Investor Relations Inquiries please contact Skanderbeg Capital Advisors at 604 687 7130 or email ir@gonetcoins.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company's current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.