Press release

Magnet Forensics Reports Voting Results from 2022 Annual Meeting of Shareholders

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Magnet Forensics Inc. (“Magnet Forensics” or the “Company”) (TSX: MAGT) is pleased to announce that each of the director nominees listed in the Company’s management information circular dated April 26, 2022 for the annual meeting of shareholders of the Company (the “Circular”) held earlier today was re-elected as a director of the Company.

Voting results for the individual directors of the Company are as follows (the percentage of votes for or withheld from voting are displayed as a percentage of votes cast):

NOMINEE

VOTES FOR

VOTES WITHHELD

Jim Balsillie

294,620,770 

99.68% 

943,781 

0.32% 

Carol Leaman

295,334,868 

99.92% 

229,683 

0.08% 

Jerome Pickett

293,567,902 

99.32% 

1,996,649 

 0.68% 

Adam Belsher

295,172,880 

99.87% 

391,671 

0.13% 

Jad Saliba

294,884,297 

99.77% 

680,254 

0.23% 

In addition, the Company is pleased to announce that the ordinary resolution authorizing the adoption of the Company’s Employee Stock Purchase Plan and approving the proposed maximum number of subordinate voting shares in the capital of the Company reserved for issuance thereunder, as set out in the Circular, was passed by a vote conducted by ballot. Shareholders also approved by ordinary resolution the amendment and restatement of each of the Company’s Long Term Incentive Plan, Deferred Share Unit Plan and Amended and Restated Employee Stock Option Plan to increase the number of subordinate voting shares in the capital of the Company reserved for issuance thereunder, as set out in the Circular, by ballot. The results of the ballots were 293,105,288 votes (99.17%) and 292,492,491 votes (98.96%), respectively, voting in favour of the resolutions.

Shareholders also approved the re-appointment of KPMG LLP as the Company’s independent auditors.

Final results on all matters voted on at the meeting will be filed shortly with the Canadian securities regulators.

About Magnet Forensics

Founded in 2010, Magnet Forensics is a developer of digital investigation software that acquires, analyzes, reports on, and manages evidence from digital sources, including computers, mobile devices, IoT devices and cloud services. Magnet Forensics’ software is used by more than 4,000 public and private sector customers in over 100 countries and helps investigators fight crime, protect assets and guard national security.