Propel Energy Corp.

April 20, 2011 17:28 ET

Propel Energy Corp.: News Release

CALGARY, ALBERTA--(Marketwire - April 20, 2011) - Propel Energy Corp. announced today that its Board of Directors has called an annual and special meeting of shareholders to be held in Calgary, Alberta on Wednesday, July 13, 2011.

The special meeting has been requisitioned by Odyssey Financial Group Inc., the holder of 22.7% of Propel's common shares. At the Meeting, Propel shareholders will have the opportunity to vote to retain the existing Board of Directors or:

  1. remove the current directors of Propel from office; and
  1. replace the current directors of Propel with nominees put forward by Odyssey Financial Group Inc.

Odyssey Financial Group Inc. has not yet provided Propel with the names of any of its nominees.

Propel's shareholders will also be asked to conduct all the business ordinarily conducted at an annual general meeting of shareholders.

The Board of Directors will be providing the notice of meeting and meeting materials in due course and as required by the Alberta Business Corporations Act.

Propel Energy Corp. is a Calgary-based private junior oil and gas exploration and production company with producing property in the Minard area of Saskatchewan and undeveloped lands in the Hill area of Alberta.

Contact Information

  • Propel Energy Corp.
    Dennis Nerland
    Director
    (403) 299 9600