Gale Force Announces Shareholder Meeting Results

Feb 07, 2014, 16:00 ET from Gale Force Petroleum Inc.

TORONTO, Feb. 7, 2014 /CNW/ - Gale Force Petroleum Inc. (TSXV: GFP) (OTCQX: GFPMF) (the "Company") today announced the results of its Annual and Special Meeting of its shareholders, held earlier today.

Out of 75,396,586 common shares issued and outstanding on the record date of December 31, 2013, 28,515,022 shares were voted at the meeting, representing 37.82% of all such shares, with over 96% of votes cast in favour of all motions proposed by Management, as follows:

  • Election of Directors. Allan Bezanson, Harry Knutson, Charles Marleau, Michael McLellan and Randy Wilkins were each individually elected Directors of the Company.

  • Appointment of Auditors. BDO Canada LLP was appointed as the auditor of the Company until the next shareholders meeting, and the Board of Directors was authorized to fix the remuneration.

  • Advance Notice By-Law. The amendment of the by-laws of the Company to require notice of any proposed Directors well in advance of any shareholders' meeting was confirmed.

  • Annual Rolling Stock Option Plan.  Approval, required annually, was provided for the Company's rolling stock option plan.

  • Meeting Date. The holding of the meeting today, February 7, 2014, a date which is later than the delay required under the Canada Business Corporation's Act, was ratified.

Gale Force Petroleum is a public corporation focused on acquiring and exploiting underdeveloped oil and gas reserves in mature basins, bringing operational expertise and capital to lower-risk, development-type projects. The Company currently owns producing oil and gas properties in Texas, Tennessee and West Virginia.

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.

SOURCE Gale Force Petroleum Inc.