VANCOUVER, BC, July 7, 2021 /CNW/ - Renaissance Oil Corp.
("Renaissance") (TSXV: ROE) (OTCQB: RNSFF), in consultation
with its Board of Directors, has decided to postpone the annual
general and special meeting of securityholders (the
"Meeting") from July 8, 2021
to July 13, 2021 at 10:00 a.m. (Vancouver time), to be held virtually.
The Meeting was called to consider, among other matters, the
proposed acquisition of all of the Renaissance's securities by
Reconnaissance Energy Africa Ltd. (the "Transaction").
The resolution approving the Transaction (the "Arrangement
Resolution") must be passed by: (i) the affirmative vote of at
least two-thirds (66 2/3%) of the votes cast by Renaissance
shareholders, optionholders and warrantholders, voting as a single
class, present in person or represented by proxy at the Meeting and
entitled to vote, (ii) the affirmative vote of at least two-thirds
(66 2/3%) of the votes cast by Renaissance shareholders present in
person or represented by proxy at the Meeting and entitled to vote,
and (iii) a simple majority of the votes cast by disinterested
shareholders (being shareholders other than Messrs. Telfer, Keep
and Steinke) present in person or represented by proxy at the
Meeting.
To date, the Arrangement Resolution has received overwhelming
support with a total of 90% of votes cast by disinterested
shareholders voting in favour of the Arrangement Resolution.
The record date for determining the securityholders eligible to
vote at the Meeting will remain the close of business on
May 26, 2021. securityholders who
have already submitted a proxy do not need to vote again for the
postponed Meeting. The updated deadline to vote is 10:00 a.m. (Vancouver time) on July
9, 2021.
Additional information concerning the Meeting can be found in
Renaissance's information circular dated May
27, 2021 (the "Circular"), which should be read in
conjunction with Renaissance's supplement to the Circular dated
June 25, 2021 (the
"Supplement"). Copies of the Circular and the Supplement are
available on Renaissance's website at www.renaissanceoil.com and
under Renaissance's profile on SEDAR at www.sedar.com.
Renaissance holds an option to acquire a 50% working
interest, in all rights from surface to basement, in a large
Petroleum Licence, comprising 2.2 million acres in the Kavango
sedimentary basin, in Botswana,
Africa. The licence operator is
Reconnaissance Energy Africa Ltd. Renaissance is an onshore
operator in Mexico with 100%
working interest in approximately 1200 boe/day.
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 news
release.
Cautionary Note Regarding Forward-Looking
Statements: Certain statements contained in this
press release constitute forward-looking information under
applicable Canadian, United States
and other applicable securities laws, rules and regulations,
including, without limitation, statements with respect to the
voting in connection with the Transaction. These statements relate
to future events or future performance. The use of any of the words
"could", "intend", "expect", "believe", "will", "projected",
"estimated" and similar expressions and statements relating to
matters that are not historical facts are intended to identify
forward looking information and are based on Renaissance's current
belief or assumptions as to the outcome and timing of such future
events. There can be no assurance that such statements will prove
to be accurate, as Renaissance's actual results and future events
could differ materially from those anticipated in these
forward-looking statements. Factors that could cause actual
results and future events to differ materially from those
anticipated in these forward-looking statements are set forth in
the "Risk Factors" section in the Circular and in the "Risk
Management and Rick Factors" section in Renaissance's management's
discussion and analysis for the year ended December 31, 2020. Various assumptions or factors
are typically applied in drawing conclusions or making the
forecasts or projections set out in forward-looking information.
Those assumptions and factors are based on information currently
available to Renaissance. The forward-looking information contained
in this news release is made as of the date hereof and Renaissance
undertakes no obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on
forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
SOURCE Renaissance Oil Corp.
