June 30, 2017
VANCOUVER: Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) announces that it has been successful in its application to the British Columbia Securities Commission, to revoke the cease trade orders issued on June 19, 2017, respectively (collectively, the "Cease Trade Orders"). The Cease Trade Orders were issued as a result of the Company's late filing of its annual audited financial statements for the year ended December 31, 2016, interim financial report for the period ended March 31, 2017, management discussion and analysis for the periods ended December 31, 2016 and March 31, 2017, annual information form for the year ended December 31, 2016 and the associated certifications for the periods ended December 31, 2016 and March 31, 2017 (the “Annual and Interim Filings”). The Annual and Interim Filings were filed on June 29, 2017 and are available on SEDAR at www.sedar.com under the Company’s profile. The Company also intends to apply to the Toronto Stock Exchange for reinstatement of trading of the Company’s common shares.
The Company also announces that at its annual meeting of shareholders held on June 29, 2017 (the “Meeting”), all directors nominated as listed in the management proxy circular dated June 5, 2017 were elected. The details are as follows:
Director Votes For (rounded) Withhold Votes
Elizabeth Otis 201,729,971 (99.89%) 215,056 (0.11%)
Jaap Rosen Jacobson 201,329,871 (99.70%) 615,156 (0.30%)
Peter George 201,729,971 (99.89%) 215,056 (0.11%)
Ken Robertson 201,729,971 (99.89%) 215,056 (0.11%)
The Corporation has also filed a report of voting results on all other resolutions voted on at the Meeting on www.sedar.com.
The Avcorp Group designs and builds major airframe structures for some of the world’s leading aircraft companies, including BAE Systems, Boeing, Bombardier, Fuji Heavy Industries and Lockheed Martin. The Avcorp Group has more than 50 years of experience, over 800 skilled employees and 636,000 square feet of facilities. Avcorp Structures & Integration located in Delta British Columbia, Canada is dedicated to metallic and composite aerostructures assembly and integration; Avcorp Engineered Composites located in Burlington Ontario, Canada is dedicated to design and manufacture of composite aerostructures, and Avcorp Composite Fabrication located in Gardena California, USA has advanced composite aerostructures fabrication capabilities for composite aerostructures. The Avcorp Group offers integrated composite and metallic aircraft structures to aircraft manufacturers, a distinct advantage in the pursuit of contracts for new aircraft designs, which require lower-cost, light-weight, strong, reliable structures. Comtek Advanced Structures Ltd., at our Burlington, Ontario, Canada location also provides aircraft operators with aircraft structural component repair services for commercial aircraft.
Avcorp Composite Fabrication Inc. is wholly owned by Avcorp US Holdings Inc. Both companies are incorporated in The State of Delaware, USA, and are wholly owned subsidiaries of Avcorp Industries Inc.
Comtek Advanced Structures Ltd., incorporated in the Province of Ontario, Canada, is a wholly owned subsidiary of Avcorp Industries Inc.
Avcorp Industries Inc. is a federally incorporated reporting company in Canada and traded on the Toronto Stock Exchange (TSX:AVP).
Sandi DiPrimo, Investor Relations Contact | 604-587-4938