TORONTO, Dec. 18, 2014 /CNW/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company") today announced the results of its Annual and Special Meeting of its shareholders, held earlier today.
Out of 79,408,021 common shares issued and outstanding on the record date of December 31, 2013, 26,150,787 shares were voted at the meeting, representing 32.93% of all such shares, with significant majorities of votes cast in favour of all motions proposed by Management, as follows:
- Election of Directors. Allan Bezanson, Charles Marleau, Michael McLellan and Randy Wilkins were each individually elected Directors of the Company.
- Appointment of Auditors. Davidson & Company LLP was appointed as the auditors of the Company until the next shareholders meeting, and the Board of Directors was authorized to fix the remuneration.
- Annual Rolling Stock Option Plan. Approval, required annually, was provided for the Company's rolling stock option plan.
- Share Issuance. Approval of a resolution was provided, authorizing the Company to issue common shares at an issue price of $0.05 per share to Company officers, in lieu of cash that would otherwise be owing to them under their management contracts.
ABOUT GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped oil and gas reserves in mature basins, bringing operational expertise and capital to lower-risk, development-type projects. The Company currently owns producing oil and gas properties in Texas, Tennessee and West Virginia.
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.
SOURCE: Gale Force Petroleum Inc.
For further information: Michael McLellan, CFA, Chief Executive Officer at +1.888.440.3411