SASKATOON, SASKATCHEWAN – (FSCWire – September 28, 2017) Westcore Energy Ltd. (“Westcore” or the “Company”) (TSXV: WTR) is pleased to announce that at the Annual and Special Meeting of Shareholders held September 21, 2017 (the “Meeting”), the Company’s shareholders re-elected Tom MacNeill, Andrew Davidson, Paul Conroy and Raymond Hodgkinson as the Company’s directors. Westcore also reports that the resolutions re-appointing Davidson & Company LLP as auditors of the Company and approving and ratifying the Company’s stock option plan were all approved.
The shareholders of the Company showed strong support for the matters brought before the Meeting, with the resolutions passing with support ranging from 98% to 100% of the votes cast, representing 79.30% of the issued and outstanding shares of Westcore.
Additionally, Westcore reports that the board of directors has approved the grant of 700,000 stock options pursuant to the Company’s Stock Option Plan. 400,000 of the options were granted to directors and executive officers, with the balance granted to consultants. The options vest immediately, are exercisable at $0.22 per share, and if not exercised, expire September 27, 2022, subject to earlier expiration in accordance with the Stock Option Plan and the applicable policies of the TSX Venture Exchange. All of the options granted today (and the common shares issuable upon exercise) will be subject to applicable securities law hold periods.
We seek Safe Harbor
FOR FURTHER INFORMATION PLEASE CONTACT:
Westcore Energy Ltd.
Vice President and Chief Operating Officer
Phone: (306) 653-2692
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to, the 3 well drilling program that is referenced herein, shut-in production potentially being re-initiated and the earning of interests by Eros in Westcore’s Flaxcombe field. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; commodity prices; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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