Advantagewon Oil Corp., Announces Results of its AGM

Toronto, Ontario--(Newsfile Corp. - November 2, 2018) - Advantagewon Oil Corp., (CSE: AOC), (OTCQB: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today the results of the Corporation's Annual General Meeting ("AGM") of Shareholders which was held on Wednesday October 31st, 2018 at 11:00 am EST at the Corporation's head office in Toronto.

The Corporation is pleased to report that all items that were set out in the Notice of the Meeting were duly passed at the AGM including the appointment of UHY McGovern, Hurley LLP., as the Corporation's Auditor, the approval of the Corporation's current Stock Option plan and the election of the Directors. Each of the nominee Directors recommended by Management, and listed in the Corporation's Information Circular, and Proxy Statement dated September 14th, 2018 were elected as a Director of the Corporation for a term ending at the next Annual General Meeting of Shareholders. Out of the 210,122,431 Common Shares eligible to vote at this year's AGM, proxies were received from the holders of 24,425,940 Common Shares, representing a voting percentage of 11.6%. The voting results are as follows:

Appointment of Auditors

Votes ForVotes AgainstAbstainPercentage in Favor For
24,425,940Nil / 0Nil / 0100%

 

Approval of Stock Option Plan

Votes ForVotes AgainstAbstainPercentage in Favor For
24,374,90551,035Nil / 099.9%

 

Election of Directors

Name of Nominee Votes ForAbstain / AgainstPercentage in Favor For
Stan Dimakos23,043,2141,382,72694.3%
Charles Dove23,434,677991,26395.9%
Jason Ewart23,043,2141,382,72694.3%
Paul Haber22,051,1442,374,79690.2%
Frank Kordy 24,376,59549,34599.8%

 

Mr. Charles Dove stated: "Since my appointment back in December of 2017, I have focused the efforts of the Corporation on expanding production, decreasing debt, and increasing the Corporation's incoming revenue streams with the goal of building AOC into a cash flow positive entity. In the first 6 months of 2018, we nearly doubled our incoming revenue streams as we reported revenues of $427,145 CDN for the six months ended in 2018 vs. $264,600 CDN for the six months ended in 2017. In Q3, we unlocked multiple sources of Oil on our properties that were previously not on production and we continue to find more wells that we feel we can put back onto production very cost effectively. We will be moving forward with the resumption of drilling in the near future. The Management team will continue to work hard in advancing the Corporation forward for all shareholders."

About Advantagewon Oil Corp.

Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells in the State of Texas. AOC applies specialized expertise to increase oil recovery from 10-15% to up to 75% for each well. Once the enhanced recovery strategy is successfully applied, AOC will repeat the process throughout the oil pool to maximize output and minimize cost and risk. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE:AOC). For more information please visit www.aoc-oil.com.

For further information please contact:

Mr. Charles Dove
CEO & Director
Advantagewon Oil Corp.
T: (403) 815-2440
E: charles.dove@aoc-oil.com
W: www.aoc-oil.com

Mr. Paul Haber
Chairman & Director
Advantagewon Oil Corp.
T: (416) 318-6501
E: paul.haber@aoc-oil.com
W: www.aoc-oil.com

Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037
E: frank.kordy@aoc-oil.com
W: www.aoc-oil.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

- 30 -

info