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CALGARY, Alberta, May 13, 2022 (GLOBE NEWSWIRE) — Badger Infrastructure Solutions Ltd. (“Badger”, the “Company”, “we”, “our” or “us”) is pleased to announce that all of the motions put forward at its annual meeting of shareholders held on May 13, 2022 (the “Meeting”) were approved by its shareholders. A total of 28,956,760 common shares in the capital of the Company, representing approximately 84.00% of the issued and outstanding common shares, were represented in person or by proxy at the Meeting.
All eight director nominees proposed by management were elected. Proxies and in person votes were received as follows:
|Votes For||%||Votes Withheld||%|
Further, of the proxies and in person votes received, 28,354,516 (97.92%) voted in favour of appointing Deloitte LLP as the Company’s auditor, and 26,873,363 (92.93%) voted in favour of management’s approach to executive compensation (say on pay) as disclosed in the Management Information Circular dated March 31, 2022.
About Badger Infrastructure Solutions Ltd.
Badger Infrastructure Solutions Ltd. (TSX:BDGI) is North America’s largest provider of non-destructive excavating services. Badger works for contractors and facility owners in a broad range of infrastructure industries. These market segments consist primarily of infrastructure projects in areas such as energy generation, electricity and natural gas transmission networks, roads and highways, telecommunications, water and sewage treatment and general municipal infrastructure. Customers in these segments typically operate near high concentrations of underground power, communication, water, gas and sewer lines, particularly in large urban centres where safety and economic risks are high and therefore non-destructive excavation provides a safe alternative for certain customer excavation requirements.
The Company’s key technology is the Badger Hydrovac™, which is used primarily for safe excavation around critical infrastructure and in congested underground conditions. The Badger Hydrovac uses a pressurized water stream to liquify the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. To complement the Badger Hydrovac, the Company began field-testing prototype air excavation units, Badger Airvac™ Pending, in late 2021. The Badger Airvac is used like a Badger Hydrovac for safe excavation. The Badger Airvac utilizes compressed air versus water to loosen the cover soil before vacuuming and depositing into a storage tank.
The Badger Airvac complements the Badger Hydrovac, and both are designed and manufactured by Badger. Badger’s vertical integration increases the certainty of non-destructive excavation unit supply to support the Company’s growth and retirement replacement requirements at a cost less than purchasing from third party manufacturers. The vertical integration also allows Badger the opportunity to incorporate feedback from its non-destructive excavation unit operators and customers into its design and manufacturing processes, and reduces fleet downtime for repairs due to integrated repair part availability.
For further information:
Paul Vanderberg, President
and Chief Executive Officer
Darren Yaworsky, Senior Vice President, Finance and Chief Financial Officer
Trevor Carson, Vice President, Investor Relations & Corporate Development
Badger Infrastructure Solutions Ltd.
ATCO Centre II
Suite 400, 919 – 11th Avenue SW
Calgary, Alberta T2R 1P3
Telephone (403) 264-8500
Fax (403) 228-9773
Source: Badger Infrastructure Solutions Ltd.
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