The Concerned Shareholders of Alberta Oilsands Inc.

June 28, 2012 13:53 ET

Results of Alberta Oilsands Inc.'s Shareholders Meeting

TORONTO, ONTARIO--(Marketwire - June 28, 2012) - The concerned shareholders of Alberta Oilsands Inc. ("AOS") are very pleased to announce that the AOS shareholders meeting was held today in Calgary, Alberta, as scheduled. AOS shareholders voted to elect the slate of the concerned shareholders, comprised of: Brent Defosse, Joseph A. Francese, Robert Metcalfe, Paul Moase, Stuart B. McDowall, Binh Vu and Dale Hammons (collectively, the "New Board"), with a clear majority of the votes that were submitted to AOS voting for the New Board.

Shareholders also approved the other matters set out in the notice of meeting: the fixing of the number of directors of AOS at seven, the appointment of KPMG LLP, Chartered Accountants as auditors of AOS for the ensuing year and AOS' stock option plan and certain amendments thereto.

The New Board would like to express its gratitude to fellow AOS shareholders for their support.

The New Board has retained Norton Rose Canada LLP in connection with an application to the Court of Queen's Bench of Alberta requesting an order, among other things, declaring that the election of the New Board was valid, restraining the outgoing board from acting in any manner that obstructs or hinders the legitimate activities of the New Board and directing that the outgoing board take all necessary steps to effect a smooth and timely transition of authority to the New Board.

Contact Information

  • Susy Monteiro
    Senior Vice President
    Phoenix Advisory Partners
    (647) 351-3085 ext. 222