LOGISTEC CORPORATION REPORTS ON DIRECTOR ELECTION RESULTS

MONTRÉAL, May 4, 2023 /CNW/ - LOGISTEC Corporation (TSX: LGT.A) (TSX: LGT.B) has announced its director election results following its annual meeting of shareholders held on May 3, 2023.

Each of the nominees proposed as director in the management proxy circular dated March 22, 2023 was elected as director of LOGISTEC Corporation on a vote by show of hands.  In total, 7,225,880 Class A Common Shares (98.16% of the class) and 2,994,771 Class B Subordinate Voting Shares (54.89% of the class) were represented in person or by proxy at the meeting, representing 97.12% of the voting rights attached to the shares issued and outstanding as of the record date of March 21, 2023. The proxies given to management as well as to appointees present at the meeting for election of directors were as follows:

LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade, as well as marine agency services to shipowners and operators serving the Canadian market.

Furthermore, the Company operates in the environmental industry where it provides services to industrial, municipal and governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.

The Company has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, LOGISTEC's shares are listed on the Toronto Stock Exchange (TSX) under the ticker symbols LGT.A and LGT.B. For more information can be obtained on the Company's website at www.logistec.com.

SOURCE Logistec Corporation