SOURCE: Quaterra Resources Inc.

Quaterra Resources Inc.

June 23, 2017 08:30 ET

Quaterra Announces AGM Results

VANCOUVER, BC--(Marketwired - June 23, 2017) - Quaterra Resources Inc. ("Quaterra" or "the Company") (TSX VENTURE: QTA) (OTCQB: QTRRF) today announced that all resolutions were passed by the requisite majority at its annual general meeting held in Vancouver, British Columbia on June 22, 2017. PricewaterhouseCoopers LLP, Chartered Professional Accountants were re-appointed as auditors of the Company for the ensuing year and shareholders approved the Company's 2017 10% rolling stock option plan.

A total of 112,733,131 common shares were represented at the AGM, representing 56.09% of the votes attached to all outstanding common shares as at the record date. All the matters submitted to the shareholders for approval as set out in the Company's notice of meeting and information circular dated May 15, 2017, were approved by the requisite majority of votes cast at the AGM.

The following five incumbent directors were re-elected: Thomas Patton, John Kerr, LeRoy Wilkes, Gerald Prosalendis and Terry Eyton.

Following the annual general meeting, the board of directors re-appointed Thomas Patton as Chairman and CEO, Gerald Prosalendis as President and COO, Lei Wang as CFO and Lawrence Page, Q.C. as Corporate Secretary.

The Company also announced that it has granted 2,900,000 incentive stock options to 24 directors, officers, employees and consultants pursuant to the Company's stock option plan. The options are exercisable at a price of $0.095 per share for a period of five years and are subject to the policies of the TSX Venture Exchange.

On behalf of the Board of Directors,

Gerald Prosalendis
President & COO
Quaterra Resources Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For more information please contact:
    Gerald Prosalendis
    President & COO
    Quaterra Resources Inc.
    604-641-2780