CALGARY, AB, Sept. 21, 2023 /CNW/ - CanAsia Energy Corp. ("CanAsia") (TSXV: CEC) announced today that its directors intend to amend By-Law No. 1 of the Corporation to reduce the quorum requirement for a shareholder meeting from 25% to 10%. The amendment is expected to occur immediately before the annual meeting of shareholders scheduled to commence in Calgary at 9:00 a.m. tomorrow, Friday, September 22, 2023. The amendment will have immediate effect. Shareholders will then be asked to confirm the amendment at the meeting. It is anticipated that such confirmation will be obtained.
The amendment is necessary to ensure that the meeting, and future meetings of shareholders as required, may proceed. The deadline for submission of proxies for the meeting was 9:00 a.m. (Calgary time) on Wednesday, September 20. At that time, proxies representing 11,629,355 (23.35%) of CanAsia's 49,793,907 issued and outstanding common shares had been submitted. The proxy submission deadline has been extended to 3:00 p.m. (Calgary time) today, Thursday, September 21. It is unlikely that enough additional proxies to bring the total shares voted to 25% or more will be submitted by the extended deadline.
An updated CanAsia corporate presentation will be posted on the Corporation's website at www.canasiacorp.com after the shareholder meeting on September 22, 2023.
CanAsia is a Calgary, Alberta based oil and gas company with operations in Western Canada.
This press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as "expect", "believe", "estimate", "should", "anticipate" and "potential" or other similar wording. Forward-looking information in this press release includes references, express or implied, to amendment of CanAsia's By-Law No. 1, an updated corporate presentation and the timing of each.By its very nature, the forward-looking information contained in this press release requires CanAsia and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of CanAsia, which could cause actual results, expectations, achievements or performance to differ materially. Although CanAsia believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. CanAsia undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CanAsia Energy Corp.
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