For best results when printing this announcement, please click on link below:
CALGARY, Alberta, Aug. 11, 2017 (GLOBE NEWSWIRE) — Butte Energy Inc. ("Butte"or the "Company") is pleased to announce the results of its Annual General andSpecial Meeting of shareholders held on August 1, 2017 in Calgary (the"Meeting"). At the Meeting, shareholders holding 77.42% of the issued andoutstanding common shares were present or represented by proxy and suchshareholders voted 100% in favour of the sale of the Company's Chigwellproperties to RKSmith Energy Corp. for $35,000 (the "Transaction"). In addition, the Company is pleased to announce the re-election of CharlesBaker, Chris Reimchen, Victor Redekop, Gerald Gilbert and Cuneyt Tirmandi. Atthe Meeting shareholders also re-appointed Czechowsky, Graham & HaneveltChartered Accountants as auditors of the Company and approved a specialresolution approving the winding up of the Company, the full text of which isset forth in the Company's management information circular dated June 30,2017. The Company also wishes to announce that Tyron Pfeifer has resigned asPresident and Chief Executive Officer of the Company, with effect as of August9, 2017. This news release includes certain statements that may be deemed"forward-looking statements" within the meaning of applicable Canadiansecurities legislation. Specifically, this news release includes, but is notlimited to, forward-looking statements with respect to completion of theTransaction and the winding-up of the Company. Generally, forward-lookingstatements can be identified by the forward-looking terminology such as"plans", "expects" or "does not expect", "is expected", "budget", "scheduled","estimates", "projects", "intends", "anticipates", or "does not anticipate",or "believes", or "variations of such words and phrases or state that certainactions, events or results "may", "can", "could", "would", "might", or "will"be taken", "occur" or "be achieved". Forward-looking statements are subject toknown and unknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of the Companyto be materially different from those expressed or implied by suchforward-looking statements, including but not limited to: risks associatedwith general economic conditions, adverse industry events, loss of markets,inability to obtain regulatory approvals, the liabilities of the Corporation,income tax and regulatory matters. Although the Corporation has attempted toidentify important factors that could cause results to differ materially fromthose contained in forward-looking statements, there may be other factors thatcause results to be materially different from those anticipated, described,estimated, assessed or intended. There can be no assurance that anyforward-looking statements will prove accurate, as actual results and futureevents could differ materially from those anticipated in such statements.Accordingly, readers should not place undue reliance on forward-lookingstatements. The Corporation does not undertake to update any forward-lookingstatements that are incorporated by reference herein, except in accordancewith applicable securities laws. This press release is not an offer of the securities for sale in the UnitedStates. The securities have not been registered under the U.S. Securities Actof 1933, as amended, and may not be offered or sold in the United Statesabsent registration or an exemption from registration. This press releaseshall not constitute an offer to sell or the solicitation of an offer to buynor shall there be any sale of the securities in any state in which suchoffer, solicitation or sale would be unlawful. Not for distribution to U.S. Newswire Services or for dissemination in theUnited States of America. Any failure to comply with this restriction mayconstitute a violation of U.S. Securities laws. For further information please contact:Butte Energy Inc. Victor Redekop, Chairman (403) 541-5310This announcement is distributed by Nasdaq Corporate Solutions on behalf ofNasdaq Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible forthe content, accuracy and originality of the information contained therein.Source: Butte Energy Inc. via Globenewswire