Changfeng Announces Results of a Special Meeting of Shareholders Held on December 2, 2015
TORONTO, ONTARIO--(Marketwired - Dec. 4, 2015) - Changfeng Energy Inc. ("Changfeng" or the "Company") (TSX VENTURE:CFY) announces that a Special Meeting of Shareholders has been held on December 2, 2015.
As set out in the October 25, 2015 Notice of Special Meeting of Shareholders and Management Information Circular, the purposes of the Meeting was to consider and, if thought advisable, to approve a special resolution of shareholders authorizing an amendment to the Company's articles with respect to the creation of 15,000,000 Class A Preferred Shares, as more particularly described in the Management Information Circular.
Approval of the Special Resolution required the affirmative votes of not less than 66 2/3% of shares voted on the Special Resolution.
Shareholders and proxy holders representing 38,392,500 common shares of the Company (61.03% of outstanding common shares) voted by ballot at the Meeting. 36,304,500 (94.56%) shares voted for the Special Resolution and 2,088,000 (5.44%) shares voted against the Special Resolution; the Special Resolution was accordingly carried.
Final documentation, including the results of the Meeting, have been submitted to regulators for final approval. The Company anticipates closing the Loan Discharge Transaction described in the Management Information Circular, and issuing the Class A Preferred Shares, in December 2015.
Changfeng Energy Inc.
Changfeng Energy Inc. is a natural gas service provider with operations located throughout the People's Republic of China. The Company services industrial, commercial and residential customers, providing them with natural gas for heating purposes and fuel for transportation. The Company has developed a significant natural gas pipeline network as well as urban gas delivery networks, stations, substations and gas pressure regulating stations in Sanya City & Haitang Bay. Through its network of pipelines, the Company provides safe and reliable delivery of natural gas to both homes and businesses. The Company is headquartered in Toronto, Ontario and its shares trade on the Toronto Venture Exchange under the trading symbol "CFY". For more information, please visit the Company website at www.changfengenergy.com.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Source: Marketwired (Canada)
(December 4, 2015 - 4:30 PM EST)
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