Criterium Energy Ltd., an independent upstream energy development and production company focused in Southeast Asia, is pleased to announce results from the Corporation's annual general and special meeting which took place May 24, 2023.
Highlights
All Directors have been re-elected to a one-year term
All shareholder resolutions have passed
Votes totaling 41,028,727 common shares or 21.76% of the shares outstanding were proxied
Share Consolidation
The resolution authorizing a consolidation of up to ten for one of the existing common shares also passed with greater than 98% approval of votes cast. Criterium expects to carry out the consolidation by June 30, at a ratio to be determined prior to that date. The consolidation of shares will allow the exercise of existing warrants related to the September 26, 2022 private placement.
Criterium would also like to remind legacy Softrock Minerals warrant holders that there are three weeks left to exercise their warrants which expire June 15, 2023 and have an exercise price of $0.05. The warrants were issued on June 7, 2018 and as of the date of this press release, approximately 7,446,781 remain outstanding.
