SOURCE: Polaris Infrastructure Inc.

Polaris Infrastructure Inc.

June 29, 2016 17:00 ET

Polaris Infrastructure Announces Changes to Its Board of Directors

TORONTO, ON--(Marketwired - June 29, 2016) - Polaris Infrastructure Inc. (TSX: PIF) ("Polaris Infrastructure" or the "Company"), is pleased to announce that Tom Ogryzlo has been appointed to the Board of Directors. Mr. Ogryzlo has over fifty years of experience with mining, energy and industrial projects, with responsibility for all aspects of development, financing, engineering, construction and operations. He holds a Bachelor of Mechanical Engineering degree from McGill University in Montreal, Quebec and speaks Spanish, Portuguese and French. Mr. Ogryzlo has served as a Director of more than 20 public companies including: Franco Nevada Mining Corp., Vista Gold, Aura Minerals, Birim Goldfields, Tiomin Resources and Atlas Corp.

From 2000 until 2010, Mr. Ogryzlo served in an executive role with the Company and its predecessor, Polaris Geothermal Inc., including leading San Jacinto project operations and government relations efforts, while based in Nicaragua. Mr. Ogryzlo replaces Antony Mitchell who has retired from the Board. Mr. Mitchell served on the Board of Polaris Infrastructure and its predecessor company (Ram Power, Corp.) for over six years. Jorge Bernhard replaces Mr. Mitchell as Chairman of the Board.

Marc Murnaghan, Director and Chief Executive Officer of Polaris Infrastructure, said, "Tom is a valuable addition to our Board, bringing deep project management and operating expertise, as well as detailed background specifically related to the San Jacinto project. I would also like to thank Tony Mitchell for his longstanding and valuable service to the Company. Tony led the Company through a challenging period that culminated with the 2015 recapitalization transaction, and we wish him well in his future endeavours."

The Company held its annual general meeting of shareholders on June 28, 2016. A total of 33 shareholders holding 8,211,783 common shares were represented at the meeting, being 52.4% of the Company's issued and outstanding common shares. Shareholders voted in favour of all matters brought before the meeting, including the appointment of auditors for the ensuing year, the election of management's nominees as directors and an amendment to the method of giving notice in the articles of the Company.

Director Voting

Detailed results of the vote for the election of directors are provided below:

Director Number of Votes Percentage of Votes Cast (rounded)
Votes Withheld: Votes
Votes Withheld:
Jorge Bernhard 7,961,661 9,532 99.88% 0.12%
James V. Lawless 7,961,661 9,532 99.88% 0.12%
Marc Murnaghan 7,962,561 8,632 99.89% 0.11%
Jaime Guillen 7,960,653 10,540 99.87% 0.13%
C. Thomas Ogryzlo 7,960,911 10,282 99.87% 0.13%

About Polaris Infrastructure

Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. Currently, the Company operates a 72MW geothermal project located in Nicaragua.

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