PetroTal Corp. Voting Results of Shareholders' Meeting (5937Y)
10 Septiembre 2020 - 1:00AM
UK Regulatory
TIDMPTAL
RNS Number : 5937Y
PetroTal Corp.
10 September 2020
PetroTal Announces Voting Results of Shareholders' Meeting
Calgary, Alberta and Houston, Texas - September 10,
2020-PetroTal Corp. ("PetroTal" or the "Company") (TSX--V: TAL and
AIM: PTAL) announces that all resolutions were duly passed by
Shareholders at the Company's Annual General and Special Meeting
held on September 9, 2020.
Resolution 9 related to authorizing the Board of Directors, at
its discretion, to proceed with a potential consolidation of the
Common Shares on the basis of a ratio of between four and eight
pre-consolidation Common Shares for each one post-consolidation
Common Share (the "Consolidation"). The Consolidation is subject to
approval of the TSX Venture Exchange (the "TSXV"), which if
received and the Board of Directors determines to proceed, the
Consolidation will occur at a time determined by the Board and
announced by a press release of the Company. The Company believes
that the Consolidation, if implemented, will promote increased
liquidity and reduced volatility in the trading of the Shares.
ABOUT PETROTAL
PetroTal is a publicly--traded, dual--quoted (TSXV: TAL and AIM:
PTAL) oil and gas development and production company domiciled in
Calgary, Alberta, focused on the development of oil assets in Peru.
PetroTal's flagship asset is its 100% working interest in Bretana
oil field in Peru's Block 95 where oil production was initiated in
June 2018, and in early 2020 became the second largest crude oil
producer in Peru with more than 10,000 bopd of production.
Additionally, the Company has large exploration prospects and is
engaged in finding a partner to drill the Osheki prospect in Block
107. The Company's management team has significant experience in
developing and exploring for oil in Northern Peru and is led by a
Board of Directors that is focused on safely and cost effectively
developing the Bretaña oil field.
For further information, please see the Company's website at
www.petrotal-corp.com , the Company's filed documents at
www.sedar.com , or contact:
Douglas Urch
Executive Vice President and Chief Financial Officer
Durch@PetroTal-Corp.com
T: (713) 609-9101
Manuel Pablo Zuniga-Pflucker
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101
Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
T : 44 (0) 208 434 2643
Strand Hanson Limited (Nominated & Financial Adviser)
James Spinney / Ritchie Balmer
T: 44 (0) 207 409 3494
Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
Tel: +44 (0) 20 7710 7600
Auctus Advisors LLP (Joint Broker)
Jonathan Wright / Rupert Holdsworth Hunt / Harry Baker
T: +44 (0) 7711 627449
READER ADVISORIES
FORWARD--LOOKING STATEMENTS: This press release contains certain
statements that may be deemed to be forward--looking statements.
Such statements relate to possible future events, including, but
not limited to: PetroTal's business strategy, objectives, strength
and focus; the reopening of the Bretana oil field and resumption of
oil production therefrom; the effect and implementation of the
Decree; and the ongoing effects of Covid-19 on the Company and its
employees. All statements other than statements of historical fact
may be forward--looking statements. Forward-- looking statements
are often, but not always, identified by the use of words such as
"anticipate", "believe", "expect", "plan", "estimate", "potential",
"will", "should", "continue", "may", "objective" and similar
expressions. The forward--looking statements are based on certain
key expectations and assumptions made by the Company, including,
but not limited to: expectations and assumptions concerning the
reopening of existing infrastructure, its ability to deliver
production and the anticipated capital expenditures associated
therewith; successful implementation of the Decree; prevailing
commodity prices and actual prices received for PetroTal's
products; the availability and performance of drilling rigs,
facilities, pipelines, inventory and barge storage capacity, other
oilfield services and skilled labour; royalty regimes; exchange
rates; the application of regulatory and licensing requirements;
current legislation; the success of future drilling and development
activities; and general economic conditions. Although the Company
believes that the expectations and assumptions on which the
forward--looking statements are based are reasonable, undue
reliance should not be placed on the forward--looking statements
because the Company can give no assurance that they will prove to
be correct. Since forward--looking statements address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks.
Please refer to the risk factors identified in the Company's annual
information form for the year ended December 31, 2019 and
management's discussion and analysis for the three and six months
ended June 30, 2020 which are available on SEDAR at www.sedar.com.
The forward--looking statements contained in this press release are
made as of the date hereof and the Company undertakes no obligation
to update publicly or revise any forward--looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
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 press release.
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