TSX Venture Exchange Symbol: SNV
CALGARY, July 17, 2013 /CNW/ - Sonoro Energy Ltd. ("Sonoro" or "the Company") (TSX-V: SNV) is pleased to report that at its annual and special meeting of shareholders held July 17, 2013 (the "Shareholders' Meeting"), each of the current directors of Sonoro, namely, Richard Wadsworth, Christopher Atkinson, Kirk Donaldson, Jesse Meidl, Richard Monbaillard and Dick ter Avest, was re-elected for another term. Each of the directors received over 91% of the votes cast in favour of his re-election.
A total of 87,767,228 common shares of Sonoro (the "Shares") of the 264,518,053 Shares outstanding were voted for the election of the directors at the Shareholders' Meeting, representing approximately 33% of the issued and outstanding Shares. Shareholders voted to re-elect the current directors as follows:
|Nominee||Votes For||Votes Withheld|
|Dick ter Avest||85,394,728||2,372,500|
Mr. Donaldson has notified the Company that he has determined not to serve as a director for the ensuing term. As a result, Mr. Donaldson will not serve on the Company's board of directors.
Shareholders also voted in favour of the other resolutions voted on at the meeting, being the appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as auditors for the financial year ending December 31, 2013, continuance of the Company from the Province of British Columbia to the Province of Alberta and re-approval of the Company's share option plan.
Sonoro is an international oil exploration and development company. Our current focus is a pure play on asphalt resource exploration and development in Iraq. Sonoro has initiated the evaluation of resource opportunities under its asphalt license agreement in the Salah ad Din Province.
Certain statements in this news release may constitute "forward-looking information" ("forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "intend", "estimate", "potential", "could", "ongoing", "prospective", "expected" and similar words suggesting future outcomes. By their nature, forward-looking statements are based on current expectations regarding future events that involve a number of assumptions, known and unknown risks, and uncertainties. Actual results, performance or achievements of Sonoro, or the industry, may vary materially from what is expressed or implied by such forward-looking statements.
These forward-looking statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance to be materially different from those we project. These risks and uncertainties include, but are not limited to: (1) risks associated with obtaining, maintaining and the timing of receipt of regulatory approvals, permits, and licenses; (2) uncertainties related to financing of Sonoro's exploration activities and continued operations through access to capital markets; (3) the risk of volatile global economic conditions; (4) continued political stability; (5) continued support from the local communities, (6) operational risks in development, exploration and production delays or changes in plans with respect to exploration or development projects or capital expenditures; (7) the uncertainty of resource estimates, geological interpretations, estimates and projections in relation to production, costs and expenses, and health, safety and environmental risks; (8) the continued ability to obtain qualified staff and equipment in a timely and cost efficient manner; (9) the risk of commodity price and foreign exchange rate fluctuations; and (10) risks associated with the implementation of new technology.
Given these uncertainties, you should not rely on forward-looking statements. These forward-looking statements also represent our estimates and assumptions only as of the date that they initially were made. We expressly disclaim a duty to provide updates to any forward-looking statements, and the estimates and assumptions associated with them, to reflect events or circumstances or changes in expectations or the occurrence of anticipated events after the date they initially were made, except and to the extend required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Service 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: Sonoro Energy Ltd.
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Chairman and CEO