CALGARY, AB / ACCESSWIRE / May 14, 2020 / Nextraction Energy Corp. (NEX:NE.H)(OTC PINK:NXTFF) (the "Company" or "Nextraction") advises that at the meeting of the Shareholders held on May 14, 2020, all matters put before the Shareholders through the previously filed and distributed Notice of Meeting dated April 11, 2020 were passed at the Meeting.
As a result, the previous directors of Nextraction, being Eric Carlson, Frank Hallam, R. Michael Jones, and Paul Trost have ceased to be directors of Nextraction. The newly appointed directors of the Company are Gong (Michael) Chen, Benjamin Gill, John Versfelt, and Steve Elliott. Biographies of each director can be found at pages 5 to 6 of the Nextraction Information Circular filed on SEDAR on April 27, 2020 (the "Information Circular"). In addition, John Zang, the former Chief Executive Officer of Nextraction, and Frank Hallam, the former Interim Chief Financial Officer of Nextraction, have resigned as officers of the Company. The Nextraction Board of Directors appointed the following as officers of the Company:
John Versfelt: Chief Executive Officer
Gong (Michael) Chen: Chief Financial Officer
Darren Timmer: Corporate Secretary
The appointed directors and officers have agreed to resign from their positions in the event that it is found by an applicable securities commission or stock exchange that they cannot act in such role.
The Board of Directors has also appointed members to the Company's Audit Committee. The Audit Committee consists of Gong (Michael) Chen, Benjamin Gill and Steve Elliott. Descriptions of their education and experience can be found at pages 5 to 6 of the Information Circular. They are believed to be financially literate as required by National Instrument 52-110. All Audit Committee members are independent except for Mr. Chen who is the CFO of Nextraction. The Audit Committee Charter of the Company has not been changed.
For further information please contact:
John Versfelt, CEO
Telephone: 604 527 8146
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this news release may contain forward looking information. Statements containing forward looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the company.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release is as of the date hereof and Nextraction does not undertake any obligation to update publicly or to revise any of the included forward looking statements contained herein, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities and Exchange Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
SOURCE: Nextraction Energy Corp.