CALGARY,
AB, June 17, 2024 /CNW/ - Alvopetro Energy
Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of
Directors has declared a quarterly dividend of US$0.09 per common share, payable in cash on
July 15, 2024, to shareholders of
record at the close of business on June 28,
2024. 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 Meeting
Alvopetro's annual general and special meeting (the "Meeting")
will be held on Tuesday, June 18, 2024 at the Penn West
Plaza Conference Centre (Suite 211, 207 9th Avenue
SW, Calgary, Alberta)
beginning at 9:30 a.m. Mountain time. All interested parties
are invited to attend the Meeting, however only registered
shareholders of record at the close of business on April 29, 2024 and duly appointed proxyholders
will be entitled to vote at the Meeting.
We will also be broadcasting the meeting via live webcast for
the interest of all shareholders. Please be advised that
shareholders will not be able to vote any shares through this
webcast format. Details for joining the event are as follows:
DATE: June 18,
2024
TIME: 9:30 AM
Mountain/11:30 AM Eastern
LINK: https://us06web.zoom.us/j/83279531812
https://us06web.zoom.us/j/85643699805
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdTMTKlxry
WEBINAR ID: 856 4369 9805
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 dividends, plans for dividends in the
future, the timing and amount of such dividends and the expected
tax treatment thereof. The forward‐looking statements are based on
certain key expectations and assumptions made by Alvopetro,
including but not limited to expectations and assumptions
concerning expectations regarding natural gas demand, the
performance of producing wells and reservoirs, well development and
operating performance, the outcome of any disputes, the success of
future drilling, completion, and testing, equipment availability,
the timing of regulatory licenses and approvals, recompletion and
development activities, the outlook for commodity markets and
ability to access capital markets, the impact of global pandemics
and other significant worldwide events, foreign exchange rates,
general economic and business conditions, weather and access to
drilling locations, the availability and cost of labour and
services, Alvopetro's working interest in properties and the
outcome of future redeterminations, 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.sedarplus.ca.
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.