Americas Petrogas Inc.
TSX VENTURE : BOE

Americas Petrogas Inc.

August 10, 2015 22:23 ET

Americas Petrogas Announces Notices of Dissent in Connection With Proposed Sale Transaction

CALGARY, ALBERTA--(Marketwired - Aug. 10, 2015) - Americas Petrogas Inc. ("Americas Petrogas" or the "Company") (TSX VENTURE:BOE) announces that, in connection with the special resolution adopted by an affirmative vote of 89.4% of the votes cast by shareholders at the annual and special meeting of shareholders held on July 29, 2015 approving the sale by the Company of the outstanding common shares of Americas Petrogas Argentina S.A. to Tecpetrol International S.A. and Tecpetrol Internacional S.L. (Unipersonal) and related transactions (collectively, "Transaction"), the Company has received unwithdrawn notices purporting to exercise dissent rights in respect of 23,637,000 common shares, representing approximately 10.2% of the issued and outstanding common shares of Americas Petrogas. Pursuant to section 191 of the Business Corporations Act (Alberta) (the "Act"), each shareholder who has exercised dissent rights will be entitled to be paid fair value for its shares in respect of which such shareholder has properly dissented in accordance with the Act.

The Company further advises that proceedings in the Court of Queen's Bench of Alberta have been commenced by one dissenting shareholder relating to the valuation of its common shares. Accordingly, pursuant to its obligations under the Act, the Company today delivered to each dissenting shareholder an offer of fair value, which offer is conditional upon the Company's completion of the Transaction.

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 THE RELEASE.

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