17 June 2021 – CALGARY, Canada: Wedge Networks, Inc. (Wedge), a global leader in software defined Orchestrated Real-time Threat Prevention, is pleased to announce the results of its annual general and special shareholders meeting (the "Meeting"). Shareholders approved all the resolutions detailed in the management information circular dated May 12, 2021 (the "Circular"), namely: (i) approving a special resolution for the creation of a new class of preferred shares, redesignating the current Class “C” Preferred Shares as Class “A” and cancelling Class “D” and “E” preferred shares; (ii) fixing the number of directors to be elected at five and the appointment of all the nominees; (iii) the repeal of By-Law Number 1 and replacement with By-Law Number 2; and (iv) appointment of MNP LLP as auditors of the Wedge for the ensuing year and authorizing the directors to determine the auditor's remuneration. Approximately 63% of all outstanding shares were voted at the Meeting.
"We are very pleased with the outcome of the Meeting.” said Dr. Hongwen Zhang, Wedge CEO & CTO and Co-Founder. “The active participation and continued support of our shareholders in the Meeting reflects the support of Wedge and its board of directors for the overarching business plan, and the plan of continuing to grow Wedge and positioning the company as the leader in real-time threat prevention. While the ongoing COVID pandemic has affected many businesses, Wedge believes it has been able to use this global event to strengthen its team and core business which will put the company in a stronger position to further innovate its technology and product offerings to better protect users from cyber-attacks and malware. Wedge’s shareholders are excited in the strong growth plans the company is set to execute on as we emerge in a post-COVID world.”
Wedge’s investor presentation and other circulars are available to registered shareholders through its email: agm2021@wedgenetworks.com.
About Wedge Networks
Wedge Networks Inc. is a Real-Time Threat Prevention solutions company. Its innovative technology platform, Wedge Absolute Real-time Protection (WedgeARP™), is a software defined orchestrated network security system. Deployed, via the cloud, on premises, or in a virtualized environment, in data centers by enterprises, governments, and managed security service providers, WedgeARP™ inspects, detects, and blocks in real-time, malware and cyber threats (known, unknown and customized). Wedge does this through its patented Deep Content Inspection (DCI) technologies, combined with artificial intelligence and best-of-breed security functions.
Awarded a Gartner Cool Vendor designation, and twice bestowed with Build-In-Canada Innovation awards, Wedge Networks is headquartered in Calgary, Canada with international teams in the North America, Asia Pacific, and the Middle East and North Africa regions.
For more information on Wedge Networks, visit http://www.wedgenetworks.com/
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Cautionary Statements and Forward Looking Information
This release contains forward-looking statements, which are based on current expectations, estimates, and projections about the Corporation's business and prospects, as well as management’s beliefs, and certain assumptions made by management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The forward-looking statements contained in this news release are made as of the date hereof and Wedge undertakes no obligation to update, publicly or otherwise, or revise any forward-looking information, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws. The forward-looking information contained in this press release are expressly qualified by this cautionary statement. Readers are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Corporation's future business activities may differ materially from those in the forward-looking statements as a result of various factors , including, but not limited to: expansion and business strategies, anticipated growth opportunities, the LOI with TFC, the impact of the COVID-19 pandemic, general economic, market or business conditions, the amount of fundraising necessary to perform on its business objectives, operational risks, the ability of the Corporation to raise necessary funds for its business objectives, and the outcome of commercial negotiations. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Although the Company believes that the assumptions and factors on which such forward-looking statements is based are reasonable, undue reliance should not be placed on the forward-looking statements as the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.