The meeting will now come to order, and I declare today's meeting to be properly constituted for the transaction of the business for which it has been called. I will ask Mr. Charles-Antoine Soulière to act as secretary of the meeting and Mr. Paul Allen of Computershare to act as scrutineer. The secretary has confirmed that the notice calling the meeting, including the proxy statement and other documents, was mailed on July 22nd, 2024, to shareholders of record as of July 15th, 2024, and has placed with me before this meeting confirmations of mailing of these documents. I direct that the confirmations of proof of mailing be kept by the secretary with the records of the meeting. A quorum was not reached at the meeting originally scheduled for August 15th, 2024, and that meeting was adjourned until today.
The scrutineer has advised me that there are shareholders holding 6,052,460 Common Shares, represented in person or by proxy through the online webcast platform at this meeting. This represents 33.42% of the 18,109,393 issued and outstanding Common Shares as of the record date for this meeting, and confirms that a quorum is present. I direct that a copy of the final report on attendance be filed with the records of the meeting. I'll remind you that registered shareholders and proxy holders attending the meeting may address the meeting when there is a call to discuss motion. Should you like to address the chair on any motion, please type your question or comment in the message section.
If there is any discussion or question directly related to the motions before the meeting, the secretary will read the question aloud. After we conclude the formal portion of the meeting, we'll be pleased to answer your questions or respond to your comments regarding the business matters addressed during the formal part of the meeting. We will conduct the votes on the matters before us by a poll. On a poll, every registered shareholder and duly appointed proxy holder entitled to vote on the matter has one vote in respect of each share entitled to be voted on the matter. If you already have voted in advance of the meeting, we thank you, and if you do not wish to change your vote, then you need to take no further action. For those of you who have not yet voted, you may only vote during this meeting.
Voting during the meeting can only be done through our virtual voting platform on the webcast. We will be concluding on the motions at the end of the meeting once we have addressed all agenda items. Voting polls on the agenda items for today's meeting will be closed at the end of the formal proceedings of the shareholders' meeting. The poll will now be opened for voting on all resolutions. Lumi, please open the voting. The first matter to be considered is the authorization of the issue of warrant shares underlying certain warrants.
We're asking shareholders to authorize, for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of common shares underlying certain warrants in an amount equal to or in excess of 20% of the common shares outstanding immediately prior to the issuance of such warrants, which were issued in connection with the corporation's registered direct offering and private placement, which closed on June 3rd, 2024. For a more detailed description of the issuance proposal, background, and Nasdaq rules, please refer to the proxy statement. Failure of our shareholders to approve this proposal would mean that, one, we cannot permit the exercise of the warrants, and two, we may incur substantial additional costs and expenses. If the warrants cannot be exercised, we will not receive the net proceeds of any warrants exercised for cash in the future.
We currently expect to use such net proceeds, if any, for working capital and general corporate purposes. The next item of business is the approval to adjourn the meeting, if necessary, to solicit additional proxies. Shareholders are being asked to authorize the corporation to adjourn the meeting to another time and place if necessary or advisable, to solicit additional proxies in the event there are not sufficient votes to approve proposal number one. For a more detailed description of the proposed adjournment, please refer to the proxy statement. Now that all formal matters of the business have been presented, would Mr. Payne please make the motions for the formal matters of the meeting?
Mr. Chair, first, I move to approve the passing of the resolutions approving the issuance of common shares of the corporation underlying certain warrants, and second, I move to approve the passing of the resolution approving one or more adjournments of the meeting if necessary or appropriate to permit further solicitation of proxies if there are not sufficient votes at the time of the meeting to approve proposal number one.
Thank you, Mr. Payne. I second all of Mr. Payne's motions. Mr. Secretary, are there any questions or discussions on these motions?
There is no discussion at this time.
Thank you, Mr. Secretary. Before announcing the voting results, Mr. Secretary, is there any other business that any shareholder or proxy holder present wishes to bring to the attention of the meeting?
There is no proposal for other business.
Thank you, Mr. Secretary. To all registered shareholders and proxy holders attending this meeting, if you have not already voted, please complete the electronic ballot on Lumi at this time. We will give you one more minute. I now declare the polls closed, and we will proceed to present the voting results. Scrutineers have provided their preliminary report of the results of voting at today's voting. On the matter of passing a resolution approving the issuance of common shares of the corporation underlying certain warrants, I'm advised by the scrutineer that greater than a majority of the votes cast have been voted in favor, less any shares held by the investor. Therefore, I declare that this motion is carried.
On the matter of passing a resolution approving an adjournment of the meeting, if there are not sufficient votes at the time of the meeting to approve proposal number one, I'm advised by the scrutineer that greater than a majority of the votes cast have been voted in favor. Therefore, I declare that this motion is carried. I declare each of the resolutions considered at today's meeting as carried. The exact number of votes cast in respect of each matter will be filed on SEDAR+ and EDGAR. As there is no further business to be brought before this meeting, the formal part of the meeting now is concluded. We will be pleased to answer questions from shareholders who wish to address the meeting. For each question we answer, Mr. Payne will read out the question, as well as the name of the person who asked the question.
Please limit your question to top topics relating to today's subject matter. We would like to remind you that questions which were already answered or that are redundant or repetitive will not be addressed. Are there any questions?
There are no more questions at this time.
Thank you, Mr. Secretary. As there are no questions, this concludes the special meeting of shareholders. Thank you for joining us today.