Valparaiso Energy Inc.
TSX VENTURE : VPO.H
NEX BOARD : VPO.H

August 24, 2015 16:30 ET

Valparaiso Energy Inc.: Update on Special Meeting of Shareholders

CALGARY, ALBERTA--(Marketwired - Aug. 24, 2015) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES.

Valparaiso Energy Inc. ("Valparaiso" or the "Corporation") (NEX:VPO.H) is pleased to announce that all matters put before its shareholders at the Annual General and Special Meeting of Shareholders held on Friday, August 21, 2015 were approved by the Corporation's shareholders. The special items of business that were put forth for approval by the Corporation's shareholders included the approval of the Corporation's stock option plan and the consolidation (the "Consolidation") of the Corporation's common shares on a 1 for 4 basis, details of which were all disclosed in Valparaiso's management information circular dated July 17, 2015. The completion of the Consolidation is subject to final regulatory approval.

The Corporation currently has 47,221,569 common shares outstanding. If the proposed consolidation is approved by the TSX Venture Exchange and NEX, there would be 11,805,392 post-consolidation common shares (the "Post-Consolidation Common Shares") issued and outstanding.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Valparaiso Energy Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Specifically, certain of the transactions referenced herein are subject to regulatory approval, and there can be no guarantee that such approvals will be received, in a timely manner or at all. Actual results and events may vary.

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 this release.

Contact Information

  • Valparaiso Energy Inc.
    William J. Wylie
    403.266.5515 (Ext. 4)
    Bill@raptap.com