Identillect shareholders approve 1:30 share rollback

Executive Summary

• Identillect Technologies Corp. held its Annual General and Special Meeting on September 17, 2025, where shareholders approved several key resolutions, including the election of new directors, the adoption of a new security-based compensation plan, and a significant share consolidation.
• The company announced a name change to "Secure Blockchain Development Corp." to better reflect its focus on blockchain technology and email encryption services, alongside a 1-for-30 share consolidation intended to improve trading liquidity and investor interest.
• Both the share consolidation and the name change remain subject to final approval by the TSX Venture Exchange.

Key Details

• Share Consolidation: Approved a consolidation of common shares on a one-new-for-30-old basis.
• Name Change: Directors approved changing the company name to Secure Blockchain Development Corp.
• Governance Changes:
  • Elected Todd Sexton, Scott Ackerman, and Peter Dickie as directors.
  • Reappointed Charlton & Company as auditor.
  • Adopted a new security-based compensation plan.
  • Grant Block retired as a director.
• Rationale for Consolidation: The company believes the consolidation may increase financial community interest, broaden the investor pool, improve trading liquidity, and reduce trading commissions.
• Regulatory Status: The consolidation, name change, and new compensation plan are subject to TSX Venture Exchange approval.
• Trading Symbol: No change to the company's trading symbol.
• Future Disclosures: Further details regarding the timing of the consolidation, name change, and new CUSIP/ISIN numbers will be disclosed in a subsequent press release.

Notable Quotes

• Todd Sexton, CEO: "We believe that the name Secure Blockchain Development Corp. more accurately reflects our current business and our ongoing initiatives in the blockchain space... Identillect's secure and trusted blockchain technology creates integrity checks through every level of communication, limiting the possibility of security breaches which plague businesses in all verticals."