/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
CALGARY, June 24, 2011 /CNW/ - Novus Energy Inc. ("Novus" or the "Company") (TSXV: NVS) is pleased to
announce that all of the matters set forth in the Company's information
circular dated May 11, 2011 (the "Circular") to be voted upon were
approved by the Company's shareholders at the annual general and
special meeting (the "Meeting") held Thursday June 16, 2011.
In particular, the Company's amended and restated stock option plan was
also approved at the Meeting, a copy of which is attached as a schedule
to the Circular, which is available electronically at www.sedar.com.
The Company is also pleased to announce the promotion of Mr. Mitch
Huitema, who now adds the title of VP, Accounting to his role as
Controller at Novus. Mr. Huitema helped lead the Company through the
transition from Canadian Generally Accepted Accounting Principles to
International Financial Reporting Standards and will continue to
oversee the accounting functions of the Company.
Novus Energy Inc. is a well positioned, junior oil and gas company with
a proven management team committed to aggressive, cost-effective growth
of high netback light oil reserves and production. Novus will continue
to grow through a targeted acquisition and consolidation strategy
coupled with development and exploration drilling.
Novus' common shares trade on the TSX Venture Exchange under the symbol
NVS. Novus currently has 170.2 million common shares outstanding.
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.
This news release will not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction.
Such securities have not been registered under the United States
Securities Act of 1933 and may not be offered or sold in the United
States, or to a U.S. person, absent registration, or an applicable
SOURCE Novus Energy Inc.
For further information:
| NOVUS ENERGY INC. || || |
| Hugh G. Ross |
President and CEO
| || Ketan Panchmatia |
Chief Financial Officer
| Julian Din |
VP Business Development