TORONTO – POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF), a provider of payments infrastructure in the cannabis industry, announced the results of its annual and special meeting of shareholders. All tabled resolutions received shareholder approval.

Shareholders voted to set the number of directors at three (3) and elected Ryan Hamlin, Michael Apker, and Bruce Jaffe to the board. Additionally, McGovern Hurley LLP, Chartered Accountants, was appointed as the independent auditor for the upcoming year, with the Company’s directors authorized to determine their remuneration. A special resolution for the consolidation of the common shares of the Company was also approved. The specific share consolidation ratio will be determined by the Company’s board of directors.