CALGARY,
AB, June 15, 2022 /CNW/ - Alvopetro Energy
Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of
Directors has declared a quarterly dividend of US$0.08 per common share, payable in cash on
July 15, 2022, to shareholders of
record at the close of business on June 30,
2022. This dividend is designated as an "eligible dividend"
for Canadian income tax purposes.
Dividend payments to non-residents of Canada will be subject to withholding taxes at
the Canadian statutory rate of 25%. Shareholders may be
entitled to a reduced withholding tax rate under a tax treaty
between their country of residence and Canada. For further
information, see Alvopetro's website at
https://alvopetro.com/Dividends-Non-resident-Shareholders.
Annual General and Special
Meeting
As previously announced, we will be holding our Annual and
Special Meeting (the "Meeting") on Wednesday
June 22, 2022, beginning at 9:30 a.m.
(Mountain time). We invite all shareholders and any
interested parties to attend. We will commence with the formal
business of the meeting where shareholders will be asked to vote on
all matters set forth in the Management Information Circular (the
"Circular"). Only registered shareholders who held shares in
their name as of May 3, 2022, the
record date of the Meeting, or their validly appointed proxyholders
who have signed into the online webcast, are entitled to vote on
the resolutions during the Meeting. The Circular and all
related materials are available on our website
(https://alvopetro.com/Shareholder-Documents) and on SEDAR
(www.sedar.com).
Webcast Details:
Date:
|
Wednesday June 22,
2022
|
Time:
|
9:30 a.m. MT (11:30
a.m. ET)
|
Webcast:
|
https://virtual-meetings.tsxtrust.com/1364
|
If you are a registered shareholder and have not yet voted your
shares and wish to do so at the meeting, please select "I have a
control number" when signing in and use the control number found on
the form of proxy from our transfer agent, TSX Trust company along
with the password: alvopetro2022 (case sensitive).
If you are a beneficial shareholder, you will not be entitled to
vote your shares at the Meeting, but we still encourage you to
attend. Please select "I am a guest" and fill in the required
information.
Following the formal portion of the Meeting, we will deliver a
corporation presentation to provide an overview of our
operations. At the conclusion of the presentation there will
be a question-and-answer period.
Corporate Presentation
Alvopetro's updated corporate presentation is available on our
website at:
http://www.alvopetro.com/corporate-presentation.
Social Media
Follow Alvopetro on our social media channels at the following
links:
Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn -
https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd.'s vision is to
become a leading independent upstream and midstream operator in
Brazil. Our strategy is to unlock
the on-shore natural gas potential in the state of Bahia
in Brazil, building
off the development of our Caburé natural gas field and our
strategic midstream infrastructure.
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 news release.
All amounts contained in this new release are in
United States dollars, unless
otherwise stated and all tabular amounts are in thousands of
United States dollars, except as
otherwise noted.
Forward-Looking Statements and Cautionary
Language. This news release contains
"forward-looking information" within the meaning of applicable
securities laws. The use of any of the words "will", "expect",
"intend" and other similar words or expressions are intended to
identify forward-looking information. Forward‐looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether or not such
results will be achieved. A number of factors could cause actual
results to vary significantly from the expectations discussed in
the forward-looking statements. These forward-looking statements
reflect current assumptions and expectations regarding future
events. Accordingly, when relying on forward-looking statements to
make decisions, Alvopetro cautions readers not to place undue
reliance on these statements, as forward-looking statements involve
significant risks and uncertainties. More particularly
and without limitation, this news release contains forward-looking
information concerning the Company's plans for dividends in the
future. The forward‐looking statements are based on certain
key expectations and assumptions made by Alvopetro, including but
not limited to equipment availability, the timing of regulatory
licenses and approvals, the success of future drilling, completion,
testing, recompletion and development activities, the outlook for
commodity markets and ability to access capital markets, the impact
of the COVID-19 pandemic and other significant worldwide events,
the performance of producing wells and reservoirs, well development
and operating performance, foreign exchange rates, general economic
and business conditions, weather and access to drilling locations,
the availability and cost of labour and services, environmental
regulation, including regulation relating to hydraulic fracturing
and stimulation, the ability to monetize hydrocarbons discovered,
the regulatory and legal environment and other risks associated
with oil and gas operations. The reader is cautioned that
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
incorrect. Actual results achieved during the forecast period will
vary from the information provided herein as a result of numerous
known and unknown risks and uncertainties and other factors. In
addition, the declaration, timing, amount and payment of future
dividends remain at the discretion of the Board of Directors.
Although Alvopetro believes that the expectations and assumptions
on which such forward-looking information is based are reasonable,
undue reliance should not be placed on the forward-looking
information because Alvopetro can give no assurance that it will
prove to be correct. Readers are cautioned that the foregoing list
of factors is not exhaustive. Additional information on factors
that could affect the operations or financial results of Alvopetro
are included in our annual information form which may be accessed
on Alvopetro's SEDAR profile at www.sedar.com. The
forward-looking information contained in this news release is made
as of the date hereof and Alvopetro undertakes no obligation to
update publicly or revise any forward-looking information, whether
as a result of new information, future events or otherwise, unless
so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.