The board of Tidewater Renewables Ltd. (traded on the TSX as LCFS and on the OTC as TDWRF) announced the outcomes of its annual general meeting held virtually on May 26, 2026. Shareholders cast a total of 27,016,177 Shares, representing 74.043% of the issued common shares, to decide on governance and routine corporate matters. Attendees and voting participants endorsed several key proposals, including the confirmation of the board size at four directors, the election of a full slate of nominees, the reappointment of Deloitte LLP as auditors and approval of a non-binding advisory vote on executive compensation.
The virtual format allowed broad participation and produced decisive results that the company characterized as a mandate to continue its strategic focus. Management emphasized that the shareholder backing reflected confidence in Tidewater’s pathway to scale up production of low carbon fuels, specifically renewable diesel. The board highlighted the company’s business model of converting diverse feedstocks—such as canola oil, tallow, used cooking oil, distillers corn oil and soybean oil—into environmentally preferable fuels using established technologies, and stated the importance of stable governance and reliable external audit oversight for executing growth plans.
Meeting outcomes and voting detail
The vote count and percentages were disclosed in detail for each director nominee, demonstrating overwhelming approval across the slate. The meeting fixed the number of directors at four, and the ballots showed strong shareholder endorsement for each nominee. Shareholders also confirmed the appointment of Deloitte LLP as auditor and supported the company’s approach to executive compensation via the non-binding advisory vote. These items are standard elements of corporate governance yet important indicators of investor trust and alignment with management strategy.
Director election results
The specific tallies for the election of directors were reported as follows: Thomas Dea received 26,490,769 votes for (98.067%) with 522,283 withheld (1.933%); Jeremy Baines received 27,012,998 votes for (99.999%) with 54 withheld (0.000%); Jeffrey Hamilton received 26,494,736 votes for (98.081%) with 518,316 withheld (1.919%); and Todd Moser received 26,500,769 votes for (98.104%) with 512,283 withheld (1.896%). These percentages reflect near-unanimous margins and leave a clear mandate for the reconstituted board to proceed with its operational agenda.
Strategy and business context
Tidewater continues to position itself as a Canadian producer focused on renewable diesel, with plans to own, develop and operate clean fuels projects and associated infrastructure that rely on proven conversion technologies. The corporation’s stated objective is to become a leading domestic supplier of low carbon fuels by leveraging a flexible feedstock approach and by scaling facilities that can process a range of biomasses. Management views the shareholder support from the meeting as validation of fiscal and operational choices, enabling the company to pursue project development and potential partnerships while adhering to regulatory and market dynamics for sustainable fuels.
Reporting and next steps
Further documentation related to the meeting is available in the Management Information Circular dated April 6, 2026 and in the formal Report of Voting Results filed on SEDAR+. Investors and analysts can consult these filings for complete disclosures and supporting detail. Going forward, the board and management indicated they will focus on execution of approved projects, ongoing investor communications and the continued deployment of technical and operational resources to convert feedstocks into marketable low carbon fuels while maintaining compliance with evolving environmental and financial reporting standards.
In summary, the virtual annual general meeting delivered clear outcomes: the board size was set at four, the nominated directors were elected with substantial margins, Deloitte LLP was reappointed as auditor, and the advisory resolution on executive compensation received shareholder approval. These governance results provide a stable platform for Tidewater Renewables to advance its role in the North American renewable fuels sector and to pursue opportunities that align with its mission of producing cleaner transportation fuels at scale.