Toronto, Canada – Kuuhubb Inc. (“Kuuhubb” or the “Company”) (TSX-V: KUU), a technology company focused on developing, acquiring and distributing lifestyle and mobile game applications for the female audience, announces that the board of directors of the Company (the “Board”) has called an annual and special meeting of the Company’s shareholders (the “Meeting”).
The Meeting is scheduled to take place on Thursday, April 4, 2019 at a time and location to be determined. The record date for determining shareholders entitled to notice of the Meeting and to vote at the Meeting is set as February 25, 2019. Kuuhubb will provide important information in a management proxy circular and other meeting materials that will be mailed to shareholders of the Company and posted to the Company’s website and under its profile on SEDAR (www.sedar.com) nearer to the record date, as required under applicable law.
The Meeting is being called in response to a requisition (the “Requisition”) that Kuuhubb received on January 9, 2019 from certain shareholders of the Company holding approximately 5% of the common shares of the Company in the aggregate (the “Requisitioning Shareholders”). The Requisitioning Shareholders have disclosed that they intend to ask shareholders of the Company to vote on a resolution to remove all directors of the Company, set the number of directors of the Company to be elected at five and elect five new directors of the Company.
Kuuhubb also announces that Christian Kolster has been appointed as Corporate Secretary of the Company in replacement of Geoffrey Farr. Finally, Kuuhubb announces that a new director (the “New Appointee”) was appointed to the Board to fill the board vacancy created by the previous resignation of Maurice Colson. The New Appointee however resigned shortly after his appointment to the Board. Arnold Kondrat, Philip Chen (the “Canadian Directors”) and Maurice Colson had threatened to commence personal legal proceedings against three members of the Board, Jouni Keränen, Christian Kolster and Carl von Troil, as well as against the New Appointee. The Canadian Directors voted against the resolutions to appoint Christian Kolster as Corporate Secretary of the Company and the New Appointee as director.
This news release is not intended to, and does not, constitute a solicitation of proxies in relation to the Meeting. Any solicitation of proxies by or on behalf of management of the Company in relation to the Meeting will take place upon and following the dissemination of the management proxy circular and other meetings materials in accordance with applicable law.