Deans Knight Income Corporation - 2018 Annual General Meeting Results and Board Review of Director Elections

VANCOUVER, British Columbia, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Deans Knight Income Corporation (the "Company") announces the following results of voting for each item of business considered at the Company's annual meeting of shareholders held on October 3, 2018 (the "Shareholder Meeting"):

As Mr. Cameron did not receive the requisite majority of votes at the Shareholder Meeting, he tendered his resignation to the board of directors of the Company (the "Board") for consideration by the Board, in accordance with the Company's majority voting policy. 

The Board carefully considered all relevant factors, including Mr. Cameron's lengthy history and experience with the Company, his past significant contributions to the Company, his extensive depth of knowledge about the unique circumstances of the Company and his professional experience and credentials.  The Board also considered the fact that Mr. Cameron receives no compensation for serving as a director of the Company (including all committee work) nor does he receive any compensation for serving as the Company's CEO.  The Board further considered the limited operations of the Company, which are limited to the ongoing tax litigation with the Canada Revenue Agency.  Mr. Cameron did not participate in the consideration of his tendered resignation.

As a result of the foregoing, the Board concluded that acceptance of Mr. Cameron's resignation would not be in the best interests of the Company and would represent a significant loss to the Company.  Accordingly, the Board has rejected Mr. Cameron's resignation and Mr. Cameron will continue to serve as a duly elected director of the Company.

For further information contact:

Kelsey Dunwoodie
Chief Financial Officer
Deans Knight Income Corporation
(604) 669-0212