Rosehearty Energy Holds Annual & Special Meeting of Shareholders
West Vancouver, British Columbia--(Newsfile Corp. - October 2, 2019) - Rosehearty Energy Inc. ("RHX") is pleased to announce that the Company held its Annual Special Meeting ("ASM") on September 30, 2019. The timing of the ASM was required pursuant to the terms imposed by the revocation of the Cease Trade Order issued on January 30, 2019.
At the ASM, a total of 9,398,698 (44.56%) of the issued and outstanding shares in the Company were voted, and all of the resolutions proposed by management were passed, with no less than 88% of the votes being in favour of the resolutions.
UPON MOTION DULY MADE, IT WAS RESOLVED BY SPECIAL RESOLUTION THAT the Company approve the consolidation of the issued and outstanding Common Shares of the Company on the basis of one (1) consolidated share for each outstanding three (3) common shares, or such other ratio of consolidation as the Directors in their absolute discretion may determine … and that the Directors of the Company be and are hereby authorized to make such other changes … without further shareholder approval.
Pursuant to section 263 of the Business Corporations Act (British Columbia) the change of the name of the Company from ROSEHEARTY ENERGY INC. To ROSEHEARTY CBD INC. as approved by the Directors of the Company was ratified, confirmed and approved , or such other name as the Directors in their absolute discretion may determine…, … without further shareholder approval.
These resolutions permit the Board a certain flexibility in terms of consolidation and name change and their timing. The Company is actively pursuing prospective projects that will take the Company in a new direction.
On behalf of the board:
"Robin Dow, CEO"
Certain statements contained in this news release constitute "forward-looking statements". When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "propose", "anticipate", "believe", "forecast", "estimate", "expect" and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward- looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not intend, and does not assume any obligation, to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/48431