CALGARY, AB / ACCESSWIRE / August 11, 2021 / PetroFrontier Corp. ("PetroFrontier" or the "Company") (TSXV:PFC) is pleased to announce that all of the resolutions put forward at PetroFrontier's Annual and Special Meeting of shareholders held on August 10, 2021 (the "Meeting") were passed by over 99.8% of shareholders voting at the Meeting representing over 80% of the total issued and outstanding shares of the Company. The full text of each resolution is contained in the Management Information Circular, which is available on SEDAR at www.sedar.com.
Grant of Options
The Corporation announces its intention to grant options ("Options") to key personnel under its option plan which was ratified by shareholders at the Meeting. The Corporation intends to grant Options to acquire 12,800,000 Common Shares. Each Option will entitle the holder to acquire a Common Share at a price of $0.075 Common Share for a term of five (5) years. The Options will vest as to one third each on the date of grant and the first and second anniversaries of the grant.
Senior Management Change
PetroFrontier also announces the retirement of Mr. Robert Gillies, the Company's CFO, together with the appointment of Ms. Jana Lillies into that position. We thank Mr. Gillies for his contribution to PetroFrontier and wish him the best in his future endeavours. Mr. Gillies will remain with PetroFrontier in an advisory position. Ms. Lillies holds a CPA, CGA designation and has held the role of Controller of the Corporation since 2016. Ms. Lillies has acted as CFO for several other TSX-V listed companies over the past 20 years.
About PetroFrontier Corp.
PetroFrontier is a junior energy company currently focused on developing two Mannville heavy oil plays in the Cold Lake and Wabasca areas of Alberta.
PetroFrontier's head office is in Calgary, Alberta and its Common Shares are listed for trading on the TSX-V under the symbol "PFC".
Forward-Looking Statements
This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of PetroFrontier. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, PetroFrontier does not assume any obligation to update or revise them to reflect new events or circumstances.
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 release.
Not for release in the United States of America
For More Information Contact
Kelly Kimbley, President & CEO
PetroFrontier Corp.
Suite 900, 903 - 8 Avenue S.W.
Calgary, Alberta, Canada T2P 0P7
Telephone: (403) 650-6355
Email: [email protected]
Website: www.petrofrontier.com
SOURCE: PetroFrontier Corp.