Junex Inc.

Junex Inc.

June 18, 2014 09:05 ET

Junex Announces Voting Results of its Shareholders' Meeting

QUÉBEC CITY, QUÉBEC--(Marketwired - June 18, 2014) - Junex Inc. (the "Company" or "Junex") (TSX VENTURE:JNX) announced the voting results of its annual meeting of shareholders held yesterday in Montreal.

Junex shareholders elected Jean-Yves Lavoie, Peter Dorrins, Gérald Riverin, Daniel Courteau, André Caillé and Guylaine Saucier as directors of the Company.

Shareholders also approved the resolution to appoint Raymond Chabot Grant Thornton as the Company's auditors for the current fiscal year.

Subsequent to the shareholders' meeting, Junex's Board of Directors confirmed the nominations of Mr. Jean-Yves Lavoie as Chairman.

The Company also announces that Mr. Laurent Lemaire has decided to not renew his mandate as member of the Board of Directors. The Board of Directors would like to express special thanks to Mr. Lemaire, who has been a director of the Company since the very beginning. For more than a decade, the Company has had the privilege of having relied upon the talent, experience and dedication of a man of Mr. Lemaire's caliber.

Operational update

The Company continues to believe that its properties on Anticosti Island, located to the south of and on the downthrown deeper side of the Jupiter strike-slip fault, are mainly located in the best part of the Anticosti Basin. The next few months will be devoted to Junex's search for a partner for this project and management is confident in its abilities to do so.

On another note, the Company also plans to drill the first of a series of four horizontal wells on its Galt property on the Gaspé Peninsula. Management is confident that it will obtain the necessary permits in order to proceed with the foregoing drill campaign shortly.

About Junex

Junex is a junior oil and gas exploration company that holds exploration rights on approximately 5.2 million acres of land located in the Appalachian basin in the Province of Quebec. The company is in the heart of the Utica Shale gas discovery located in the St. Lawrence Lowlands and holds a significant land-package on the Anticosti Island where an independent report has provided their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale on all five of Junex's permits on Anticosti Island at 12.2 billion barrels. In parallel to its exploration efforts in Quebec and expansion of its exploration activities elsewhere, the company operates a drilling services division.

Forward-Looking Statements and Disclaimer

Certain statements in this press release may be forward-looking. Forward-looking statements are based on the best estimates available to Junex at the time and involve known and unknown risks, uncertainties and other factors that may cause Junex's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting Junex's business and activities appears under the heading "Risks and Uncertainties" on pages 8 to 11 of Junex's 2013 annual management's discussion and analysis, which is available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Junex will derive therefrom. In particular, no assurance can be given as to the future financial performance of Junex. Junex disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event. The reader is warned against undue reliance on these forward-looking statements.

Neither 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 this release.

Contact Information

  • Junex Inc.
    Mr. Peter Dorrins
    President & Chief Executive Officer

    Junex Inc.
    Mr. Dave Pepin
    Vice President - Corporate Affairs