Echelon Financial Holdings Inc. Annual General & Special Meeting Update

TORONTO, Oct. 23, 2020 /CNW/ - Echelon Financial Holdings Inc. (TSX: EFH) ("EFH" or the "Company") announces that due to a variety of circumstances including COVID-19, it intends to delay its annual and special meeting of shareholders (the "Meeting") from October 27, 2020 to December 11, 2020. The Meeting will be held in a virtual only meeting format. 

The record date for the purposes of determining those shareholders entitled to receive notice of and to vote at, the Meeting has been set as November 10, 2020.  Detailed information on how to participate in the virtual Meeting will be included in the Company's Management Information Circular and notice of meeting (the "Meeting Materials") expected to be mailed to shareholders and filed following mailing thereof in November 2020.

In addition, the Company announces that it has received the resignations of Andrew Pastor and Lee Matheson as members of the board of directors, which resignations have been accepted by the board of directors of the Company.  The board of directors of the Company thanks Messrs. Pastor and Matheson for their services as directors of the Company and wishes them prosperity in their future endeavors.

Forward-looking Information

This news release contains forward-looking information based on current expectations. This information includes, but is not limited to, statements about the timing of the Company's annual and special general meeting of shareholders and the preparation of the accompanying information circular. These statements, which appear in this press release generally can be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "plan", "would", "should", "could", "trend", "predict", "likely", "potential" or "continue" or the negative thereof and similar variations, and include the proposed date of the Meeting, the proposed record date, the format of the Meeting and the date of filing and content of the Meeting Materials.

This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a projection as reflected in the forward-looking information. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific. A variety of material factors, many of which are beyond EFH's control, affect the operations, performance and results of its business and could cause actual results to differ materially from the expectations expressed in any of this forward-looking information.

About Echelon Financial Holdings Inc.

Founded in 1998, Echelon Financial Holdings Inc. operates in the property and casualty insurance industry in Canada, providing personal and commercial lines insurance exclusively through the broker channel. The Company distributes insurance products through The Insurance Company of Prince Edward Island. It trades on the Toronto Stock Exchange under the symbol EFH. For more information, please visit www.efh.ca

SOURCE Echelon Financial Holdings Inc.