CALGARY, ALBERTA–(Marketwired – June 24, 2016) – PetroFrontier Corp. (“PetroFrontier“) (TSX VENTURE:PFC) announces that all of the resolutions put forward at PetroFrontier’s Annual and Special Meeting of shareholders held on June 24, 2016 (the “Meeting“) other than the resolution to approve Kasten Energy Inc. (“Kasten“) as a new Control Person (as such term is defined by the policies of the TSX Venture Exchange (the “TSXV“)) were passed at the Meeting. At the request of the TSXV, consideration of the resolution to approve Kasten as a new Control Person of PetroFrontier was adjourned until July 19, 2016 at 11:00 a.m. (Calgary Time). The Meeting is to be reconvened at that time at the offices of Burstall Winger Zammit LLP, located at Suite 1600, 333 – 7th Avenue S.W., Calgary, Alberta T2P 2Z1, at which time the resolution to approve Kasten as a Control Person under the policies of the TSXV is scheduled to be considered by shareholders. Proxy voting on this resolution has been extended to July 18, 2016 at 11:00 a.m. (Calgary Time). The full text of each resolution is contained in the Management Information Circular, which is available on SEDAR at www.sedar.com. The directors elected to the board of PetroFrontier at the Meeting were Robert J. Iverach, Al Kroontje, Michael Hibberd, Paul Cheung and Kelly Kimbley.
PetroFrontier also announces that it has agreed to advance a secured loan (the “Loan“) to Kasten in the amount of $525,000 for a term of three months. The Loan will bear interest at 8% per annum and will be secured by a first charge general security interest over all of the assets of Kasten.
About PetroFrontier Corp.
PetroFrontier’s head office is in Calgary, Alberta and its common shares are listed for trading on the TSXV under the symbol “PFC”.
Robert J. Iverach, Q.C.
President and CEO
Robert L. Gillies
Vice President Finance and CFO
(403) 718-3888 (FAX)