IRONWOOD, Mich.--(BUSINESS WIRE)--Keweenaw Land Association, Limited (“Keweenaw” or “the Company”) (OTC Pink: KEWL) today issued the following statement regarding the Company’s 2018 Annual Meeting of Shareholders:
“We believe that based on proxies submitted to the independent Inspector of Election for KLA’s 2018 annual meeting, it appears that there is a reasonable probability Cornwall’s nominees have been elected. Anticipating this outcome, David Ayers, James Mai, and Brian Glodowski had a productive meeting to lay the groundwork for a fresh start. All agreed to work collaboratively going forward, for the benefit of shareholders and employees.
“Regardless of the outcome, we will respect the will of our shareholders and remain committed to executing on the Company’s strategic plan to enhance value for all shareholders.
“We will not be making any further announcements until the independent Inspector of Elections provides their preliminary vote report.”
About Keweenaw Land Association, Limited
Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings of approximately 185,500 surface acres and over 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Keweenaw shares trade in the OTC Markets under the Pink directory with 1,301,550 shares outstanding.
Statements in this document may constitute “forward-looking” statements regarding Keweenaw and its business. Forward looking statements involve significant risks and uncertainties and are not representations as to or guarantees of future results. The risks and uncertainties include changes in general economic conditions generally or in the timber industry, disruptions in Keweenaw’s business, program implementation delays, cost increases, expenses relating to the REIT conversion and proxy contest, capital needs, and other adverse factors. Actual events may cause results to differ materially from those contemplated in the forward looking statements.