VANCOUVER, British Columbia,
Dec. 10, 2014 /PRNewswire/
-- Continental Energy Corporation (OTCQB: CPPXF, the
"Company") an emerging international energy company, today
announced that at its Annual General Meeting ("AGM") held on
December 5, 2014 in Vancouver, four resolutions brought before the
meeting were approved including the following.
- Number of Directors: The Shareholders
approved fixing the number of Directors at four (4) for the
forthcoming year.
- Election of Directors: Richard L. McAdoo, Robert V. Rudman, and
Phillip B. Garrison were re-elected
as Directors of the Company for the ensuing year. In addition, a
new nominee, Mr. John Tate was
elected to the Board of Directors.
- Appointment and Remuneration of
Auditor: Dale, Matheson,
Carr-Hill & Labonte LLP were
reappointed as auditors of the Company for the ensuing year-end and
the Directors were authorized to fix their remuneration.
- Sale of Norwegian Subsidiary: Pursuant
to a sale and purchase agreement dated September 15, 2014 between the Company and
Visionaire Invest AS, the Company agreed to sell its 51% interest
in Visionaire Energy AS effective June 30,
2014 on the terms and subject to the conditions set forth in
the sale and purchase agreement, including the condition that such
sale and purchase transaction shall be subject to the approval of
the Company's shareholders. As a special resolution, the
shareholders approved the sale of the Company's Norwegian
subsidiary and the sale was closed immediately following the
approval.
On behalf of the Company,
Robert V. Rudman, CFO
Further Info: www.continentalenergy.com
No securities regulatory authority has either approved or
disapproved the contents of this news release.
Certain matters discussed within this press release may be
forward-looking statements within the meaning of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Although Continental believes the expectations reflected in such
forward-looking statements including reserves estimates, production
forecasts, feasibility reports and economic evaluations are based
on reasonable expectations and assumptions, it can give no
assurance that its expectations will be attained. Factors that
could cause actual results to differ materially from expectations
include financial performance, regulatory changes, political risk,
terrorism, changes in local or national economic conditions and
other risks detailed from time to time in Continental's periodic
filings with the US Securities Exchange Commission.
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SOURCE Continental Energy Corporation