CALGARY, June 11, 2013 /CNW/ - Sterling Resources Ltd. (TSX-V:SLG)
("Sterling" or the "Company") announces that the following matters were
approved by the shareholders at the annual and special meeting (AGM)
held today in Calgary. An archived version of Sterling's AGM can be
accessed for the next thirty days. To listen to the webcast of the AGM
please go to http://www.newswire.ca/en/webcast/detail/1169289/1278915.
The shareholders elected Messrs. Mike Azancot, Robert Carter, Jim
Coleman, John Collenette, Teck Soon Kong, Jacob Ulrich and Gavin Wilson
as directors of the Company. Mr. Jacob Ulrich was elected Chair of
the Board by the directors at a meeting following the AGM.
Sterling wishes to thank former directors Walt DeBoni, Stewart Gibson
and Graeme Phipps, who did not seek re-election to the Board, for their
service and dedication to the Company during their tenure.
The shareholders also approved two ordinary resolutions to amend By-Law
No. 1 of the Corporation. The first resolution approved advance notice
provisions. This amendment will ensure all shareholders have
sufficient disclosure and time to make appropriate decisions regarding
the election of their board of directors and, in doing so, will ensure
transparency and fairness in the director nomination process and allow
all shareholders to fully participate in the director election process
in an informed and effective manner. The second resolution approved
telephonic participation at meetings of the board or a committee of the
board. This amendment will facilitate director participation in board
meetings by removing the requirement for unanimous consent and
replacing it with a requirement for the consent of the chairman of the
meeting or a majority of the directors present at the meeting.
Sterling is a Canadian-listed international oil and gas company
headquartered in Calgary, Alberta with assets in the United Kingdom,
Romania, France and the Netherlands. The Common Shares are listed and
posted for trading on the TSX-V under the symbol "SLG".
Neither the TSX-V nor its Regulation Services Provider (as that term is
defined in the policies of the TSX-V) accepts responsibility for the
adequacy or accuracy of this release.
Filer Profile No. 00002072
All statements included in this news release that address activities,
events or developments that Sterling expects, believes or anticipates
will or may occur in the future are forward-looking statements.
These forward-looking statements involve numerous assumptions made by
Sterling based on its experience, perception of historical trends,
current conditions, expected future developments and other factors it
believes are appropriate in the circumstances. In addition, these
statements involve substantial known and unknown risks and
uncertainties that contribute to the possibility that the predictions,
forecasts, projections and other-forward looking statements will prove
inaccurate, certain of which are beyond Sterling's control, including:
the impact of general economic conditions in the areas in which
Sterling operates, civil unrest, industry conditions, changes in laws
and regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified personnel
or management, fluctuations in commodity prices, foreign exchange or
interest rates, stock market volatility and obtaining required
approvals of regulatory authorities. In addition there are risks and
uncertainties associated with oil and gas operations. Readers should
also carefully consider the matters discussed under the heading "Risk
Factors" in the Company's Annual Information Form.
Undue reliance should not be placed on these forward-looking statements,
as there can be no assurance that the plans, intentions or expectations
upon which they are based will occur. Sterling's actual results,
performance or achievements could differ materially from those
expressed in, or implied by, these forward-looking statements. These
statements speak only as of the date of the news release. Sterling does
not intend and does not assume any obligation to update these
forward-looking statements except as required by law.
Financial outlook information contained in this news release about
prospective results of operations, financial position or cash flows is
based on assumptions about future events, including economic conditions
and proposed courses of action, based on management's assessment of the
relevant information currently available. Readers are cautioned that
such financial outlook information contained in this news release
should not be used for purpose other than for which it is disclosed
SOURCE: Sterling Resources Ltd.
For further information:
visit www.sterling-resources.com or contact:
Mike Azancot, President and Chief Executive Officer, Phone: 44-20-3008-8488, Mobile: 44-7740-432883, email@example.com
David Blewden, Chief Financial Officer, Phone: 44-20-3008-8488, Mobile: 44-7771-740804, firstname.lastname@example.org
George Kesteven, Manager, Corporate and Investor Relations, Phone: (403) 215-9265, Mobile: (403) 519-3912, email@example.com