Petromin announces results of annual and special meeting of shareholders and appointment of officers

VANCOUVER, Jan. 4, 2016 /CNW/ - Petromin Resources Ltd. (the "Company") is pleased to announce the results of its annual and special meeting of shareholders (the "Meeting") held on December 29, 2015 in Vancouver, British Columbia, as follows:

1.

The appointment of Davidson & Company LLP, Chartered Accountants, as the Company's auditor to hold office until the next annual meeting of the Company or until a successor is appointed was approved by a vote by show of hands.

2.

The number of directors was determined at three by a vote by ballot with 42,425,373 votes (98.76%) for the motion to determine the number of directors at three and 534,500 votes (1.24%) against the motion to determine the number of directors at three.

3.

Arthur Ross Gorrell, Robert George Krushnisky and Adrian Alan Wan Tsun Chan were appointed as directors of the Company in a vote by ballot, the results of which were as follows:

 

NAME

VOTES IN FAVOUR

VOTES WITHHELD

Arthur Ross Gorrell

35,435,226

81,500

Robert George Krushnisky

35,430,226

86,500

Adrian Alan Wan Tsun Chan

35,430,226

86,500

Ivano DeCotiis

4,474,000

503,300

Tyrone Daum

4,474,000

503,300

Francis Landingin

4,474,000

503,300

Christian Brule

0

0

 

4.

The Company's stock option plan was ratified, confirmed and approved by a vote by ballot with 32,399,528 votes (81.04%) in favour of the motion to ratify, confirm and approve the Company's stock option plan and 7,581,198 votes (18.96%) against the motion to ratify, confirm and approve the Company's stock option plan.

5.

The Company's advance notice policy was confirmed and approved by the shareholders by vote by ballot with 33,604,827 votes (84.05%) for the motion to approve the Company's advance notice policy and 6,375,899 votes (15.95%) against the motion to approve the Company's advance notice policy.

 

Shareholders representing 50.44% of the issued and outstanding common shares of the Company were represented at the Meeting in person or by proxy. 

The Directors of the Company wish to thank the Company's shareholders for their overwhelming support at the Meeting.

Following the completion of the Meeting, the Board of Directors of the Company re-appointed Mr. Ross Gorrell as the President, Chief Executive Officer and Chairman of the Company and appointed Mr. Adrian Chan as the Chief Financial Officer and Corporate Secretary of the Company.

 

ON BEHALF OF THE BOARD OF DIRECTORS
PETROMIN RESOURCES LTD.

 

A. Ross Gorrell,
President and Chief Executive Officer

 

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

 

FORWARD LOOKING STATEMENTS

This press release contains forward looking statements within the meaning of applicable securities laws.  The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements.  In particular, this press release contains forward looking statements concerning the receipt of shareholder approval of the Policy.  Although Petromin believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because Petromin cannot give any assurance that they will prove correct.  Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties.  Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks.  These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory approval of the Acquisition.

Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on Petromin's future operations.  Petromin's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits Petromin will derive from them.  These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, Petromin disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.

SOURCE Petromin Resources Ltd.

For further information: Ross Gorrell, President and Chief Executive Officer, PETROMIN RESOURCES LTD., 550-800 West Pender Street, Vancouver, BC V6C 2V6, Telephone: (604) 682-8831, Fax: (604) 682-8683

RELATED LINKS
www.petromin.ca

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