Questerre Energy Corporation announced the approval of a corporate reorganization to spin out the Company’s Quebec assets at a special meeting of shareholders. The reorganization resulted in the exchange of existing Common Shares for New Common Shares and Series 2 Preferred Shares, with the Common Shares being cancelled. The New Common Shares will trade on the Toronto Stock Exchange and the Oslo Stock Exchange. The Company is assessing options to have the Series 2 Preferred Shares listed for trading. The Distribution Record Date and Effective Date will be announced separately pending regulatory approval. The number of directors elected at the Meeting was fixed at seven, with the Directors of the Company being Ms. Kitto, Messrs. Binnion, Holden, Sykora, and Tonnessen. The detailed results of the vote are provided in the news release. Upon the filing of the Articles of Amendment, the number of shares issuable upon exercise of stock options will be adjusted to reflect the reorganization. Questerre Energy Corporation is an energy technology and innovation company focused on transitioning its energy portfolio to responsibly produce and use energy. The company believes in a balanced approach to economics, environment, and society in the energy industry. Forward-looking statements in the news release include information about the Distribution Record Date, Effective Date, stock option adjustments, and approval of a Series 2 Preferred Option Plan.

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