Iona Energy Announces Adoption of Advance Notice By-Law

Marketwired

CALGARY, ALBERTA--(Marketwired - Oct. 24, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) is pleased to announce that the board of directors of the Company have approved the adoption of an advance notice by-law (the "By-law").

Among other things, the By-law fixes a deadline by which shareholders must submit a notice of director nominations to the Company in order for such nominations to be proposed at annual or special meetings of shareholders where directors are to be elected. Further, the By-law sets forth the information that a shareholder must include in the notice for it to be valid.

In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date set for the annual meeting. The By-law is effective immediately and shareholders of the Company will be asked to confirm the By-law at the upcoming annual and special meeting of shareholders to be held on November 29, 2013. A copy of the By-law will be included in the proxy materials to be mailed to shareholders in connection with the November 29, 2013 meeting and filed under the Company's profile at www.sedar.com.

Additional information relating to the Company is available on SEDAR at www.sedar.com.

About Iona Energy:

Iona is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.

Advisory

This news release contains certain forward-looking information and forward-looking statements (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "potential", "intend", "objective", "continuous", "ongoing", "encouraging", "estimate", "expect", "may", "will", "project", "should", or similar words suggesting future outcomes. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect.

Neither 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 news release.

Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in some cases, information supplied by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and that information received from third parties is reliable, it can give no assurance that those expectations will prove to have been correct. Forward-looking statements are subject to certain risks and uncertainties that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements.

Contact:
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
+44 1224 228400

Iona Energy Inc.
Graham A. Heath
Interim Chief Financial Officer
+44 7508 932986

Iona Energy Inc.
David Ricciardi
Investor Relations
+1 403 978 4894

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