Alvopetro Announces Annual General Meeting Presentation and Voting Results

CALGARY, June 25, 2019 /CNW/ - Alvopetro Energy Ltd. ("Alvopetro" or the "Company") (TSX-V: ALV; OTCQX: ALVOF) held its annual general meeting ("AGM") of shareholders on June 25, 2019. 

AGM Presentation

A copy of the presentation from the informal portion of the AGM is available at http://www.alvopetro.com/corporate-presentation and a video replay of the presentation is available at https://youtu.be/3cuPqZthZRE.

Voting Results

During the formal AGM proceedings, shareholders of Alvopetro approved the following resolutions:

1.  Election of Directors

Shareholders approved the election of six nominees as directors of Alvopetro to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with the number and percentage of common shares represented at the meeting voting by way of ballot in favour of and withheld from voting of the individual nominees as follows:

Nominee	Votes For	Percent	Withheld	Percent
Corey C. Ruttan	28,986,326	99.69%	91,235	0.31%
Firoz Talakshi	24,940,651	85.77%	4,136,910	14.23%
Geir Ytreland	24,939,033	85.77%	4,138,528	14.23%
John D. Wright	28,983,673	99.68%	93,888	0.32%
Kenneth R. McKinnon	24,913,043	85.68%	4,164,518	14.32%
Roderick L. Fraser	24,943,343	85.78%	4,134,218	14.22%

2.  Appointment of auditors

Shareholders approved the appointment of Deloitte LLP, Chartered Accountants, as auditors of the Company for the ensuing year.

3.  Re-Approval of Stock Option Plan

Shareholders approved Alvopetro's stock option plan with 88.52% of the common shares represented in the meeting voting in favour of the resolution.

Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil.  Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in Brazil, building off the development of our Caburé natural gas field and the construction of strategic midstream infrastructure.

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.

SOURCE Alvopetro Energy Ltd.

Corey C. Ruttan, President, Chief Executive Officer and Director, or Alison Howard, Chief Financial Officer, Phone: [phone], Email: [email protected], www.alvopetro.com, TSX-V: ALV

Related Links

http://www.alvopetro.com/