11/09/2026 | Press release | Distributed by Public on 11/09/2026 05:03
Item 5.07. Submission of Matters to a Vote of Security Holders.
On October 29, 2026, stockholders of Laredo Oil, Inc. (the "Company") holding a majority of the outstanding shares of the Company's common stock, $0.0001 par value per share (the "Common Stock"), acted by a written consent in lieu of a special meeting of stockholders, as permitted by Section 228 of the Delaware General Corporation Law and Article I, Section 8 of the Company's Bylaws, to approve an amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of Common Stock from 120,000,000 shares to 350,000,000 shares (the "Amendment"). The Amendment was previously approved by the Company's Board of Directors on October 28, 2026.
Written consents approving the Amendment were delivered by the holders of 44,164,419 shares of Common Stock, representing approximately 51.4% of the 85,945,558 shares of Common Stock outstanding as of October 15, 2026, the most recent date for which the Company has publicly reported its outstanding shares. No shares were voted against the Amendment, and no shares abstained. The holders of the remaining 41,781,139 shares of Common Stock, representing approximately 48.6% of the outstanding shares of Common Stock, did not participate in the written consent. In accordance with Section 228(e) of the Delaware General Corporation Law, the Company will provide prompt notice of the action taken by written consent to stockholders who did not execute the written consent.