Hunter Oil Corp. Announces Results of AGM

HOUSTON, Sept. 12, 2016 /CNW/ - Hunter Oil Corp. (TSX-V: HOC; OTCQX: HOILD; CUSIP 44570P20; ISIN CA44570P2017) (the "Company") announces the results of its annual general and special meeting (the "AGM") held in Vancouver, British Columbia on September 12, 2016.

A total of 6,958,322 common shares were cast at the AGM, representing 86.2% of the votes attached to all outstanding shares as at the record date for the meeting. Shareholders voted in favour of all items of business before the meeting, including the re-election of all five incumbent director nominees as follows:

Name of Director

Voted For

Withhold Vote

Number of Shares *

%

Number of Shares *

%

Andrew Hromyk

6,543,997

97.77

149,288

2.23

Al Denson

6,544,054

97.77

149,231

2.23

Konstantino Ghertsos

6,544,434

97.78

148,851

2.22

Srinivas Polishetty

6,542,584

97.75

150,701

2.25

Mark Strawn

6,544,138

97.77

149,147

2.23

* Number of common shares shown on a post-consolidation basis

The Company's shareholders voted to pass ordinary resolutions approving the following matters:

  • Appoint Hein & Associates LLP, as the Company's auditor and authorize the directors to fix the remuneration of the auditor, with 6,944,689 (99.81%) total votes cast "For" and 13,007 (0.19%) total votes "Withheld".
  • Ratify and approval renewal of the 10% "rolling" Stock Option Plan of the Company, with 6,528,996 (97.55%) total votes cast "For" and 164,289 (2.45%) total votes "Against".
  • Approval of the Company's Restricted Share Unit Plan, subject to approval of the TSX Venture Exchange, with 4,454,219 (96.35%) total votes cast "For" and 168,666 (3.65%) total votes "Against".

 

About Hunter Oil Corp.

Hunter Oil Corp. owns and operates two large historic oil fields in New Mexico, the Milnesand and Chavaroo oil fields. Recorded production of these two fields is in excess of 37 million barrels, representing approximately 10% of the oil in place. The Company plans to unlock the value in these resource-rich fields by increasing the efficiency of its operations, and by applying new and proven unconventional production technologies.

ON BEHALF OF THE BOARD OF DIRECTORS

Andrew Hromyk
President and CEO
+1 (832) 485-8500

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Cautionary Statement Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "will", "could" and other similar words, or statements that certain events or conditions "may" or "could" occur. Such forward-looking information is based on a number of assumptions and subject to a variety of risks and uncertainties, including but not limited to those discussed in the sections entitled "Forward-Looking Statements" in the interim and annual Management's Discussion and Analysis which are available at www.sedar.com. While our management believes that the assumptions made are reasonable, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Forward-looking information herein, and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

SOURCE Hunter Oil Corp.

For further information: visit our website at www.hunteroil.com

RELATED LINKS
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