VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/02/14 -- Troy Energy Corp. (the "Corporation" or "Troy") (TSX VENTURE: TEG.H) announces the following results from its recently completed annual and special meeting of shareholders held on June 12, 2014. All resolutions presented to the meeting were approved by 100 percent of the votes cast. The following Directors were re-elected: Paul Conroy, George Jones, Ray Hodgkinson and Colin Taylor. Davidson & Company LLP were re-appointed as auditors of the Corporation and the stock option plan as attached to the Company's Management Information Circular and Proxy Statement dated May 9, 2014 was approved.
The Corporation also announces its intention to conduct a private placement financing of up to 3,000,000 common shares at a price of $0.05 per share for gross proceeds of up to $150,000, subject to regulatory approval. The proceeds of this offering will be used for investigation of new projects and working capital. Directors and Officers of the Corporation will participate in the private placement.
Reader Advisory
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this news release includes, but is not limited to, the use of the net proceeds of the offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management as at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward -looking information include,but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and other risk factors disclosed under our profile on SEDAR at www.sedar.com/. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
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Contacts:
Troy Energy Corp.
James Owen
President and Chief Executive Officer
(604) 684-9201
(604) 684-9877 (FAX)
