TULSA, Okla. and VANCOUVER, British Columbia, June 28, 2018 (GLOBE NEWSWIRE) -- Jericho Oil Corporation (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) is pleased to report the results of its Annual General Meeting of Shareholders (the “AGM”) held on June 27, 2018.
At the AGM, shareholders in person or by proxy representing 82.03% of the outstanding common shares of the Company, voted (≥99.91% For) to elect incumbent directors Brian Williamson, Allen Wilson, Nicholas Baxter and Markus Seywerd.
Additionally, all other proposed resolutions were overwhelmingly approved by shareholders (≥99.88% For), including the appointment of the auditors for the ensuing financial year as well as the ratification and approval of the Corporation’s 10% rolling stock option plan.
About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK play of Oklahoma. Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves. Jericho has assembled a 55,000 net acre position across Oklahoma, including an interest in ~16,000 net acres in the STACK play.
Jericho’s current operations are focused on the oil-prone Meramec and Osage formations in the STACK. The Jericho team applies advanced engineering analyses and enhanced geological techniques to under-developed resource areas.
Based in Vancouver, British Columbia, with operational headquarters in Tulsa, Oklahoma, Jericho trades publicly on the TSX-Venture (JCO) and OTC (JROOF). Jericho participates in the STACK JV through one or more wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
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.
or
Adam Rabiner,
Director, Corporate Communications
1.800.750.3520
investorrelations@jerichooil.com