PhotoChannel AGM Results
VANCOUVER, BC – March 24, 2005 – PhotoChannel Networks Inc.
(TSX-V: PNI and OTCBB: PHCHF), the global leader in digital imaging
network technology, reports the following from today’s Annual
General Meeting of its shareholders.
Highlights
- The Company reported that revenues for the first 5 months of fiscal
2005 (to February 28, 2005) have already exceeded total revenues
for fiscal 2004 (ended September 30, 2004);
- The motion to increase the stock option plan was defeated;
- Doug Rowan of Seattle WA was elected to the Board of Directors
(“Board”) in addition to Peter Fitzgerald, Peter Scarth,
Cory Kent and Kent Thexton;
- The motion authorizing the Board to consolidate the share capital
(1:10) was approved. There is no current plan to implement this
consolidation;
- The Company received approval to issue an unlimited number of
common and preferred shares; and
- The Company received approval for the adoption of its new articles.
WARNING: The TSX Venture Exchange has neither approved nor disapproved
the information contained in this release. The Company relies upon
litigation protection for "forward-looking" statements.
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