(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 12, 2023 - G2 Energy Corp. (CSE:GTOO ) , ( FWB:UD9) ( the " Company " or" G2 ") is pleased toannounce the results of its annual general and special meeting ofshareholders held Monday, December 11, 2023 (the “ Meeting ”). All matters presented to the shareholders ofthe Company (the “ Shareholders ”) for approval as set out inthe Company's Notice of Meeting and Information Circular, datedNovember 10, 2023 respectively, were approved by an overwhelmingmajority of votes cast at the Meeting. Of the 34,973,688 sharesissued and outstanding on the record date for the Meeting, 16,734,346being 47.85% of the shares were voted.
Shareholders of the Company approved the setting thenumber of directors at six (6) and elected Slawomir Smulewicz, John Costigan, Kai Hensler, GabrielMonteiro Queiroz, Markus Mair and Malcolm Burke (the “ Board of Directors ”) for the ensuing year.
The Shareholders of the Company re-appointed Geib & Company, Professional Corporation,Chartered Professional Accountants as theCompany’s auditor for the ensuing year, and authorized the Board ofDirectors to fix the remuneration to be paid to the auditor.
In addition, the Shareholders approved the OmnibusEquity Incentive Plan of the Company, whereby the Company is a u t h o r i z ed to i ss ue o p t i o ns u n d e r the O m n i b u s P l an t o a c q ui r e up t o 2 0% of t h e t h en i ss u e d a nd o u t s ta n d i ng c o m m on s h ares i n the c a p i t a l o f t h e C o m p a ny at t h e t i me of grant ( the “ C o m m on S h a r es ” ) a n d, i n a d d i t i o n , a m a xi m u m n u m b er of C o m m o n S h a r es i ss u a b l e p u rs u a nt t o S A R s , R S U s , D S Us a n d PS Us ( as s u c h terms are d e f i n e d i n the O m ni b us P l a n ).
Furthermore, the Shareholders approved the Company’snew Shareholder Rights Plan. The objectives of the Shareholder RightsPlan are to ensure, to the extent possible, that all Shareholders aretreated equally and fairly in connection with any take-over bid orsimilar proposal to acquire common shares of the Company.
Following the Meeting, the Board of Directors appointedSlawomir Smulewicz as Chief Executive Officer, Executive Chairman andCorporate Secretary, Gabriel MonteiroQueiroz as the Chief Financial Officer and JohnCostigan as VP, Corporate Development of the Company (the“ Management ”).
Mr. Smulewicz stated “ The Board of Directors and Management ofthe Company wish to thank all of the Shareholders for their continuedsupport throughout the years. We look forward to what the futureholds for the Company”.
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz
CEO
For further information, please contact:
John Costigan
VP Corporate Development
O: +1 604 6208589
E: jcostigan@g2.energy
W: WWW.G2.ENERGY
About G2 EnergyCorp.
G2 is a junior oil and gas producer listed on the CSEexchange. It's primary focus is to acquire and develop additionaloverlooked, low risk, high return opportunities in the oil and gassector. G2's strategy is to obtain a portfolio of risk-managedproduction and development opportunities onshore, U.S.A. In May 2022,G2 acquired the Masten Unit in the Permian Basin, Texas. The MastenUnit is the Company's first producing asset. G2 is targeting top tierprojects with operating netbacks and infrastructure facilities whichwill fast track overall oil and gas production growth.
The Canadian Securities Exchange hasneither approved nor disapproved the information containedherein.
Forward Looking StatementsCaution
Statements in this press releaseregarding the Company which are not historical facts are“forward-looking statements” that involve risks and uncertainties.Such information can generally be identified by the use offorwarding-looking wording such as “may”, “expect”,“estimate”, “anticipate”, “intend”, “believe” and“continue” or the negative thereof or similar variations. Sinceforward-looking statements address future events and conditions, bytheir very nature, they involve inherent risks and uncertainties. TheCompany provides forward-looking statements for the purpose ofconveying information about current expectations and plans relating tothe future, including expectations regarding the Company's ability tomeet its outstanding obligations, and readers are cautioned that suchstatements may not be appropriate for other purposes. By its nature,this information is subject to inherent risks and uncertainties thatmay be general or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions maynot prove to be accurate, that assumptions may not be correct and thatobjectives, strategic goals and priorities may not be achieved. Theserisks and uncertainties include but are not limited to thoseidentified and reported in the Company’s public filings under theCompany’s SEDAR profile at www.sedar.com. The Company's ability tomeet its outstanding obligations could differ materially from thosecurrently anticipated due to factors such as: the performance offacilities and pipelines, commodity prices, price volatility, pricedifferentials and the actual prices received for the Company’sproducts, royalty regimes and exchange rates, the availability ofcapital, labour and services, the creditworthiness of industrypartners, G2’s ability to acquire additional assets, unexpected increases in operating costs,and risks associated with potential future lawsuits and regulatoryactions made against the Company including but not limited to beingfound in default of the Company's obligations to Cloudbreak. Althoughthe Company has attempted to identify important factors that couldcause actual actions, events or results to differ materially fromthose described in forward-looking information, there may be otherfactors that cause actions, events or results not to be asanticipated, estimated or intended. There can be no assurance thatsuch information will prove to be accurate as actual results andfuture events could differ materially.
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