CALGARY, AB, June 29, 2021 /CNW/ - PetroShale Inc.
("PetroShale" or the "Company") (TSXV: PSH) (OTCQB:
PSHIF) is pleased to announce the results of its annual and special
meeting (the "Meeting") of its shareholders held on
June 25, 2021, as follows:
- Each of management's nominees for director, being M.
Bruce Chernoff, Brett Herman, Jacob
Roorda, David Rain and
Gary Reaves, were re-elected;
- KPMG LLP was re-appointed as auditors of the Company;
- Shareholders re-approved the Company's stock option plan;
- Shareholders approved a consolidation (the
"Consolidation") to the outstanding common shares of the
Company on the basis of a consolidation ratio to be selected by the
board of directors of the Company (not to exceed fifteen (15)
currently outstanding shares for one (1) new post-consolidation
share); and
- Shareholders approved an amendment to the Company's bonus award
incentive plan to increase the number of common shares that are
available to be issued from time to time pursuant to outstanding
awards granted thereunder from 19,100,000 common shares to
25,000,000 common shares (subject to adjustment, if required as a
result of the Consolidation).
As a further update, Ken
McCagherty has decided to step down from his position on the
Board, and accordingly, did not stand for re-election at the
Meeting. "On behalf of the Company, I would like to thank Ken for
his significant contributions and service to the Company over the
last 8 years," said M. Bruce
Chernoff, Executive Chairman. "Ken has brought invaluable
expertise and vision to the Company, and we wish him well."
Q2 2021 Results Release Timing
PetroShale anticipates issuing and filing on SEDAR its
second quarter 2021 financial statements and MD&A for the
three-month period ended June 30,
2021, on or around August 20,
2021.
About PetroShale
PetroShale is an oil company engaged in the acquisition,
development, and production of high-quality oil-weighted assets in
the North Dakota Bakken / Three Forks.
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 PetroShale Inc.
