- All members of the Company’s board of directors have been re-elected;
- Shareholders voted in favour of all of the board’s recommendations; and
- Over 80% of the Company’s issued and outstanding shares were voted.
Singapore – July 16, 2015 – Terra Nova Energy Ltd. (“Terra Nova” or the “Company”) is pleased to announce the results of its Annual General Meeting (the “Meeting”) on July 15, 2015. All members of the Company’s board of directors (the “Board”) have been re-elected. The Meeting had a turnout in person or by proxy representing approximately 82% of the Company’s issued and outstanding shares.
- Nico Civelli, Vice President Finance and Director, stated, “Thank you to all shareholders for taking the time to vote and support our board of directors and management team. We are pleased with the overwhelming support that the Company has received from its loyal shareholder base.” Mr. Civelli continued, “With this issue behind us, we are excited to go back to business and develop our exciting projects in the Cooper/Eromanga Basins in South Australia with our partners, Holloman Energy (OTCQB: HENC) and Perseville.”
- All current directors were re-elected and include: Henry Aldorf, Nico Civelli, Steven Harding, Robert McMorran, Mark Jarvis and Lyle Davis. None of the dissident shareholder’s nominees were elected. Each of the Board’s nominees for directors received significantly more votes than any of the dissident shareholder’s nominees.
- Shareholders also voted in favour of all of the Board’s recommendations. These recommendations include setting the number of directors of the Company at six, the appointment of KPMG LLP, Chartered Accountants as auditor of the Company and the approval of the Company’s rolling 10% Stock Option Plan.
About Terra Nova Energy Ltd.
- Terra Nova Energy Ltd. is an oil and gas company with a 20.66% working interest in two onshore petroleum exploration licenses (“PELs”), being PEL 112 and PEL 444, located on the western flank of the Cooper Eromanga Basin in the State of South Australia, Australia. Its common shares trade on the TSX Venture Exchange under the symbol “TGC” and its ordinary shares trade in the U.S. on the OTCQX marketplace under the symbol “TNVMF.”
- For more information please contact:
Terra Nova Energy Ltd.
- Investor Relations
- T: +1 604 200 1039
- Email: firstname.lastname@example.org
- Nico Civelli
- VP Finance
- T: +65 9395 8990
- Email: email@example.com
This news release contains forward-looking information relating to Terra Nova’s intentions to conduct the drilling programs and other statements that are not historical facts. Such forward-looking information is subject to important risks and uncertainties that could cause actual results to differ materially from what is currently expected, for example: risks related to oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, competition from other producers, inability to retain drilling rigs and other services, reliance on key personnel, and insurance risks. Findings by other oil and gas issuers does not necessarily indicate that Terra Nova will be successful in making such findings in the Western Flank. In making such forward-looking statements, Terra Nova has relied upon certain assumptions relating to geological settings, commodity prices, the stability of markets and currencies and the availability of capital to Terra Nova in order to continue with the seismic and drilling programs. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Terra Nova may elect to, Terra Nova is under no obligation and does not undertake to update this information at any particular time, except as required by applicable securities law.
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.
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