Laurel Hill Congratulates Americas Petrogas Inc. on Achieving Tremendous Shareholder Support for the Sale Transaction With Tecpetrol, and for the Board of Directors at the Annual General Meeting.
CALGARY, ALBERTA and NEW YORK CITY, NEW YORK--(Marketwired - Sept. 8, 2015) - Laurel Hill Advisory Group wishes to congratulate our client, Americas Petrogas Inc., on the successful outcome at its Annual and Special Meeting of Shareholders held on July 29th, 2015 in Calgary, Alberta. At the meeting, 89.4% of the votes cast by shareholders at the Meeting, were voted in favour with over 54% of the shares voted. At the Meeting, shareholders also elected each of the seven management nominees as a director of the Company for the ensuing year.
Barclay Hambrook, President and Chief Executive Officer of the Company, commented: "We would like to thank our fellow shareholders for their support at the recent shareholder meeting. The success of the meeting was a true team feat, and we want to recognize the efforts of Laurel Hill, our proxy solicitation agent for their contribution."
"On behalf of the Laurel Hill team, we congratulate Americas Petrogas on achieving such resounding shareholder support," added David Salmon, Laurel Hill's Senior Vice President. "We thank the Americas Petrogas team for selecting Laurel Hill for this critical mandate and for the opportunity of contributing to the over-all success."
"Management is pleased to conclude this transaction with Tecpetrol after a long and extensive strategic process. The Transaction strengthens the Company's balance sheet and will allow Americas Petrogas to implement a new sustainable business plan. Going forward, the Company will restructure itself, re-evaluate the exploration and development of retained assets, and consider new investment opportunities in the Americas with a focus on generating sustainable cash flows," Hambrook stated. The Company also retains its 89% ownership interest in GrowMax AgrimCorp., which holds phosphate, potash interests, and other minerals in Bayovar, Peru.
About Americas Petrogas Inc.
Americas Petrogas Inc. is a Canadian company whose shares trade on the TSX Venture Exchange under the symbol "BOE". Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquén Basin of Argentina. Americas Petrogas and Indian Farmers Fertiliser Co-operative Limited (IFFCO) own GrowMax Agri Corp., a private company involved in the exploration for near-surface phosphates, potash and other minerals, and potential development of a fertilizer project in Peru.
Laurel Hill Advisory Group