San Angelo Oil Limited Announces Results of AGM and Changes to Board and Management
February 11, 2016 – Vancouver, British Columbia – San Angelo Oil Limited (TSX-V: SAO) (“San Angelo” or the “Company”) announces that its annual general meeting (the “AGM”) was held on February 10, 2016 in Vancouver, B.C.
At the AGM all resolutions put to the shareholders were passed. The resolutions with respect to the appointment of auditors, the Company’s rolling 10% stock option plan, and the adoption of an advance notice policy (the “Advance Notice Policy”) were approved by the shareholders of the Company at the AGM. The director nominees listed in the management information circular dated January 12, 2016 were elected as directors of the Company at the AGM.
The full text of the Advance Notice Policy is set out in the Company’s management information circular dated January 12, 2016 which is available under the Company’s profile on SEDAR at www.sedar.com.
The Company further announces that following the AGM, Scott Young, David McAdam and Gordon Nielsen resigned from the board of directors. Danny Lee and Eileen Au have been appointed as directors of the Company.
Mr. Nielsen has also resigned from his management positions as President and Chief Executive Officer of the Company, and Mr. Young has resigned as Chief Financial Officer and Corporate Secretary of the Company. Effective immediately, Ms. Au will also serve as the interim Chief Executive Officer and the Corporate Secretary of the Company, and Mr. Lee will serve as the interim Chief Financial Officer of the Company.
The Company would like to thank Mr. Young, Mr. McAdam, and Mr. Nielsen for their valuable contributions to the Company.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Eileen Au, Interim Chief Executive Officer San Angelo Oil Limited Tel: 604 609-6131
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
4479000147_News Release.docx