Oilsands Quest Announces Results of Annual Meeting
26 4월 2012 - 9:00PM
PR Newswire (Canada)
NYSE Amex: BQI CALGARY, April 26, 2012 /CNW/ - Oilsands Quest Inc.
("Oilsands Quest" or the "Company") held its Annual Meeting of
Shareholders on Tuesday, April 24, 2012, in Calgary. Mr. Ronald
Blakely was elected to serve as a Director of the Company for a one
year term until the next annual meeting. The Shareholders
also approved an amendment to the Company's Articles of
Incorporation to declassify the Board of Directors and remove the
Class A, B and C member designations. Previously, these
classes had terms of three years and were staggered, so that one
class stood for re-election at every annual meeting. Going
forward, Directors will be subject to re-election at each annual
meeting. KPMG LLP was ratified and approved as the Company's
independent registered accounting firm for the fiscal year ended
April 30, 2012. In addition, a proposal was approved to provide
shareholders with an advisory (non-binding) vote on executive
compensation. Shareholders approved a related proposal
determining that such a vote will be held annually. A copy of the
corporate presentation that was delivered at the annual meeting is
available on the Company's website at www.oilsandsquest.com.
Oilsands Quest continues to operate under the protection of the
Companies' Creditors Arrangement Act (Canada) with the assistance
of a court-appointed monitor. The Company's common shares remain
halted from trading until either a delisting occurs or until the
NYSE Amex permits the resumption of trading. About Oilsands Quest
Oilsands Quest Inc. (www.oilsandsquest.com) is exploring and
developing oil sands permits and licences, located in Saskatchewan
and Alberta, and developing Saskatchewan's first commercial oil
sands discovery. Forward-looking statements This news release
includes certain statements that may be deemed to be
"forward-looking statements." All statements, other than statements
of historical facts, included in this news release that address
activities, events or developments that management expects,
believes or anticipates will or may occur in the future are
forward-looking statements. Forward-looking statements are
statements other than relating to historical fact and are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate",
"potential", "prospective" and other similar words or statements
that certain events or conditions "may" "will" or "could" occur.
Forward-looking statements are based on the opinions and estimates
of management 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 statements, which include,
but are not limited to: the ability to raise additional capital,
risks associated with the Company's ability to implement its
business plan, its ability to successfully complete the previously
announced solicitation process while under creditor protection, its
ability to submit a timely plan to its stakeholders and the court
under the CCAA and to resolve its operational, legal and financial
difficulties, the possible delisting of its securities from NYSE
Amex, risks inherent in the oil sands industry, regulatory and
economic risks, land tenure risks, and those factors listed under
the caption "Risk Factors" in the Company's Form 10-Q filed with
the Securities and Exchange Commission on March 8, 2012. The
Company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions
should change, except as required by law. The reader is cautioned
not to place undue reliance on forward-looking statements. Oilsands
Quest Inc. CONTACT: Investor RelationsEmail:
ir@oilsandsquest.comInvestor Line: 1-877-718-8941
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