|By Marketwired .||
|June 9, 2014 04:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- Hemisphere Energy Corporation ("Hemisphere" or the "Company") (TSX VENTURE:HME) is pleased to announce that its shareholders approved all matters put before them at the Company's Annual General and Special Meeting held on June 6, 2014 (the "Meeting"), as follows:
1. Presented the annual audited financial statements of the Company for the year ended December 31, 2013 and the report of the auditor thereon; 2. Fixed the number of directors of the Company at five (5); 3. Elected the following directors of the Company for the ensuing year: Charles O'Sullivan, Don Simmons, Frank Borowicz, Bruce McIntyre and Gregg Vernon; 4. Appointed Smythe Ratcliffe LLP as auditors of the Company for the ensuing year at a remuneration to be fixed by the Board of Directors; 5. Passed an ordinary resolution approving the Company's Amended and Restated Stock Option Plan; 6. Passed an ordinary resolution extending the Company's Shareholder Rights Plan; and 7. Passed an ordinary resolution approving, confirming and ratifying an Advance Notice Policy adopted by the Board of Directors.
The Meeting concluded with a presentation by Don Simmons, President and Chief Executive Officer, on Hemisphere's current activities. This presentation can be found on the Company's website at www.hemisphereenergy.ca.
Hemisphere's Board of Directors and management team wish to thank former director, Mr. Greg Sadler, who did not stand for re-election at this Annual General and Special Meeting due to other business commitments. Mr. Sadler's contributions have been instrumental in the Company's growth over the past six years and the Company wishes him well in his future endeavours.
About Hemisphere Energy Corporation
Hemisphere is a producing oil and gas company focused on developing core areas that provide low to medium risk drilling opportunities to increase production, reserves and cash flow. Hemisphere's continued growth plan is through drilling existing prospects and executing strategic acquisitions and farm-ins. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME".
This news release contains "forward-looking statements" that are based on Hemisphere's current expectations, estimates, forecasts and projections. These forward-looking statements include statements regarding Hemisphere's outlook for our future operations, plans and timing for the commencement or advancement of exploration and development activities on our properties, and other expectations, intention and plans that are not historical fact. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Many of these factors are beyond the control of Hemisphere. Consequently, all forward-looking statements made in this news release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by Hemisphere will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking statements. Hemisphere disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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.
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