Laurel Hill Congratulates Crown Point Energy on the Resounding Shareholder Support at the Requisitioned Shareholder Meeting
(firmenpresse) - CALGARY, ALBERTA and NEW YORK, NEW YORK -- (Marketwired) -- 02/25/15 -- Laurel Hill Advisory Group congratulates our client, Crown Point Energy, on the successful outcome at its Special Meeting of Shareholders held on February 24, 2015 in Calgary Alberta. The Shareholders overwhelmingly rejected, by nearly a 2-1 vote margin, a Requisition by dissident shareholder LAIG Oil Investments to replace the independent and non-management Board members (including the nominees of the Strategic Investors) with LAIG nominees.
The Shareholders also approved a US$8.5 million second tranche private placement of shares (the "Second Tranche") with the two strategic investors. The funds will provide essential capital and enable Crown Point to advance its promising near-term exploration and development initiatives.
"We'd like to thank the shareholders for all their support," said Crown Point Energy's President and CEO Murray D. McCartney. "This was a team effort and everyone worked very hard to achieve our success at this meeting. We greatly appreciate the efforts of the Laurel Hill Advisory Group, our proxy solicitor."
"On behalf of the Laurel Hill team, we congratulate Crown Point on achieving such clear-cut shareholder support," added David Salmon, Laurel Hill's Senior Vice President. "We thank the Crown Point team for selecting Laurel Hill for this critical mandate and for the opportunity of contributing to the over-all success."
About Crown Point Energy
Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Calgary, Canada, incorporated in Alberta, Canada, trading on the TSX Venture Exchange and operating in South America. Crown Point's exploration and development activities are focused in the Austral and Neuquen basins in Argentina. Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.
About The Laurel Hill Advisory Group
The Laurel Hill Advisory Group is North America's only independent, cross border proxy solicitation firm. Our team's experience has resulted in Canada's best proxy contest win record for the past 7 years. We are regularly engaged on high profile, complex and contentious situations involving M&A, restructuring, and corporate governance issues. Cross border operations allows us to effectively reach shareholders regardless of their location - Canada, US and globally. Laurel Hill is extremely pleased to continue our unparalleled, industry leading 24-3 record on public proxy battles since 2010. In this industry, nothing speaks louder than results.
Contacts:
Laurel Hill Advisory Group
David Salmon
778.370.1388
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Datum: 25.02.2015 - 20:10 Uhr
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News-ID 374271
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CALGARY, ALBERTA and NEW YORK, NEW YORK
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