Vancouver, British Columbia--(Newsfile Corp. - June 17, 2020) - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") announces the results of its annual general meeting of shareholders (AGM) held Wednesday June 17, 2020.
A total of 21,708,381 common shares were voted, representing 24.51 percent of total shares issued and outstanding as at the record date of the meeting.
Shareholders voted in favour of all items put forward by the board of directors and management. All six individuals nominated for the board of directors were elected, as set out below.
| VOTES FOR | VOTES WITHHELD | % VOTES FOR | |
| Charles O'Sullivan | 21,686,881 | 21,500 | 99.90% |
| Don Simmons | 21,686,881 | 21,500 | 99.90% |
| Frank Borowicz | 21,686,881 | 21,500 | 99.90% |
| Bruce McIntyre | 21,686,881 | 21,500 | 99.90% |
| Gregg Vernon | 21,626,881 | 81,500 | 99.62% |
| Richard Wyman | 21,686,881 | 21,500 | 99.90% |
Shareholders voted in favour of appointing KPMG LLP, Chartered Accountants, as auditor for the ensuing year and authorized the Directors to fix the auditors' remuneration, as well as approved the Company stock option plan.
Grant Of Incentive Stock Options
The Company also announces that it has granted incentive stock options to purchase up to 1.5 million common shares until June 17, 2025, to directors, officers, employees, and certain consultants. The stock options have an exercise price of $0.12 cents per share and have been granted in accordance with the Company's stock option plan.
About Hemisphere Energy Corporation
Hemisphere Energy Corporation is a producing oil and gas company focused on developing low risk conventional oil assets for minimal capital exposure through developing known pools of oil and optimizing waterflood projects. Hemisphere plans continual growth in production, reserves, and cash flow by drilling existing projects and executing strategic acquisitions. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "HME".
For further information, visit our website at to see our corporate presentation or contact:
Don Simmons, President & Chief Executive Officer
Telephone: (604) 685-9255
Email:
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.
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