Advantagewon Announces Results of its AGSM

Toronto, Ontario--(Newsfile Corp. - September 20, 2021) - Advantagewon Oil Corp. (CSE: AOC) (OTC Pink: ANTGF) (the "Corporation", or "AOC") is pleased to announce that at its annual, general and special meeting of shareholders ("AGSM") which, due to COVID-19, was virtually held on September 16^th at 10:00 a.m. (Toronto time).

AOC's shareholders (the "Shareholders") approved the resolutions set out in the Notice of the Meeting and Management Information Circular dated August 11, 2021 (the "Information Circular"), which is available on Corporation's profile on SEDAR at www.sedar.com and on Corporation's website at www.aoc-oil.com. Proxies were received from the holders of 9,459,830 common shares, representing a voting percentage of approximately 20.6%.

Approval of Number of Directors and Election of Directors

Each of the three nominees listed in the Information Circular was duly elected as a Director of the Company until the next annual meeting of the Shareholders or until their successor is appointed. All of the nominee directors were members of the board of directors of the Corporation (the "Board") prior to the AGSM.

Appointment of Independent Auditors

The Corporation's current auditors, McGovern Hurley LLP, were approved by the Shareholders to serve as the Corporation's auditors for the fiscal year 2021.

Approval of Implementation of Omnibus Plan

The Shareholders approved to adopt an omnibus incentive plan (the "Omnibus Plan"). The Omnibus Plan will repeal and replace the Corporation's current stock option plan and allow for issuance of restricted share units.

Approval of Name Change

The Board asked for the approval of the Shareholders to authorize the Board to amend the Corporation's Articles to change the name of the Corporation to such name as the Board may determine, which was provided.

The complete voting results for each item of business at the AGSM are presented below:

Authorizing Directors to Fix the Number of Directors

Appointment of Auditors

Adoption of Omnibus Plan

Corporate Name Change

Election of Directors

Advantagewon Oil Corp.

AOC is focused on becoming a diverse energy producer. We currently have silos in oil, gas and solar. AOC's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. AOC 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. Paul Haber
Executive Chairman
Advantagewon Oil Corp.
T: (416) 318-6501

Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp.
T: (647) 466-4037

Forward-Looking Statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives, and other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that future clinical studies may not proceed as expected or may produce unfavorable results. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although AOC believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond AOC' control. The Corporation's name change has not yet been affected and the Management believes that it will affect the name change subject to regulatory compliance as soon as practicable after this news release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Corporation disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97119