/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/
KELOWNA, BC, June 3, 2016 /CNW/ - Georox Resources Inc.
("Georox" or the "Corporation") (GXR: TSX-V;
OF6A:FRA) announces the voting results of its Annual General
Meeting of shareholders held in Calgary,
Alberta on May 27, 2016. Each
of the matters voted on at the meeting is outlined in the
information circular dated April 27,
2016. Shareholders approved all the items of business before
the meeting.
The resolution asking shareholders to fix the number of
Directors to be elected at five was approved. The five nominees in
the table below were elected as directors of the corporation to
serve until the next meeting or until their successors are
appointed or elected.
|
Nominee
|
Percentage of votes
in favour
|
|
|
|
Burkhard
Franz
|
99.99
|
|
Daryl S.
Fridhandler
|
99.99
|
|
Lorraine
McVean
|
99.99
|
|
Mansoor
Anjum
|
99.99
|
|
Mo
Fazil
|
99.99
|
The TSXV has granted the Corporation an extension for the
private placement that was announced April
20, 2016. The extension has been granted until July 4, 2016 to close and complete the
offering.
About Georox
The Corporation currently produces approximately 140 boepd of
which 75% is light oil, 24% is heavy oil and 1% is gas.
Production volumes are commonly expressed on a barrel of oil
equivalent ("BOE") basis whereby natural gas volumes are converted
at a ratio of six thousand cubic feet to one barrel of oil.
The intention is to convert oil and natural gas measurement units
into one basis for improved analysis of results and comparisons
with other industry participants. The term BOE may be
misleading, particularly if used in isolation. The conversion
ratio is based on an energy equivalent method and does not
represent an economic value equivalency at the wellhead.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating
to the future operations of the Corporation and other statements
that are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate",
"expects" and similar expressions. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding future plans and
objectives of the Corporation, are forward looking statements that
involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. More particularly, it contains
forward-looking statements concerning the use of proceeds from the
Private Placement.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the Units in the United States. The Units (or constituent
securities) have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Georox Resources Inc.