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Hemisphere Energy Announces AGM Results

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 17, 2020) - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") announces the results of its annual general meeting of shareholders (AGM) held Wednesday June 17, 2020.

A total of 21,708,381 common shares were voted, representing 24.51 percent of total shares issued and outstanding as at the record date of the meeting.

Shareholders voted in favour of all items put forward by the board of directors and management. All six individuals nominated for the board of directors were elected, as set out below.


VOTES
FOR
VOTES
WITHHELD
% VOTES
FOR
Charles O'Sullivan 21,686,881 21,500 99.90%
Don Simmons 21,686,881 21,500 99.90%
Frank Borowicz 21,686,881 21,500 99.90%
Bruce McIntyre 21,686,881 21,500 99.90%
Gregg Vernon 21,626,881 81,500 99.62%
Richard Wyman 21,686,881 21,500 99.90%

 

Shareholders voted in favour of appointing KPMG LLP, Chartered Accountants, as auditor for the ensuing year and authorized the Directors to fix the auditors' remuneration, as well as approved the Company stock option plan.

Grant Of Incentive Stock Options

The Company also announces that it has granted incentive stock options to purchase up to 1.5 million common shares until June 17, 2025, to directors, officers, employees, and certain consultants. The stock options have an exercise price of $0.12 cents per share and have been granted in accordance with the Company's stock option plan.

About Hemisphere Energy Corporation

Hemisphere Energy Corporation is a producing oil and gas company focused on developing low risk conventional oil assets for minimal capital exposure through developing known pools of oil and optimizing waterflood projects. Hemisphere plans continual growth in production, reserves, and cash flow by drilling existing projects and executing strategic acquisitions. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME".

For further information, visit our website at www.hemisphereenergy.ca to see our corporate presentation or contact:

Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email: simmons@hemisphereenergy.ca

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 news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58091