Bayshore successfully hosted its Annual and Special Meeting of Shareholders, August 6, 2021
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CALGARY, Alberta, Aug. 11, 2021 (GLOBE NEWSWIRE) — Bayshore Petroleum Corp. is pleased to announce it has successfully held its annual general and special meeting (AGSM) on August 6, 2021. The AGSM has approved the following resolutions.
| (1) | Consolidation of Share Capital on the basis of one (1) post-consolidation common shares for each thirty-nine point four five six nine (39.4569) PRE-CONSOLIDATION COMMON SHARES. |
| (2) | Change of name from Bayshore Petroleum Corp. to Infinitum Copper Corp. |
| (3) | Continuation of the Corporation into the province of British Columbia |
| (4) | To fix the number of board members for the Corporation and number of board members conditionally after the closing of the Acquisition |
| (5) | Election of current directors held until the date of closing of the Acquisition for Ivan Po Kwong Chan, Peter Ho, Ellen Yu and Alex Falconer |
| (6) | Election of Directors to hold office after the closing of the Acquisition for Mahendra Naik, Steve Robertson, Michael Wood, Ivan Po Kwong Chan, Garrick Mendham, Karin Overgren and Marco Roque |
| (7) | Appointment of DeVisser Gray LLP as auditors of the Corporation |
| (8) | To fix the stock option plan as described in the information Circular of the Corporation |
The Board also approved audited financial statements for the corporation for the period ending December 31, 2020.
On June 29,2021, the Company announced it had entered into an amalgamation agreement dated June 25, 2021 with 1308039 B.C. Limited., a newly incorporated subsidiary of the company (“Subco”) and Infinitum Copper Corp., a British Columbia private company engaged in the business of mineral exploration for Copper in Mexico. Pursuant to the Amalgamation Agreement, the Company will acquire all of the issued and outstanding securities of Infinitum in exchange for securities of the Company. The Acquisition will be carried out by way of a three-corned amalgamation. Details of the amalgamation agreement is available for review on SEDRA at www.sedar.com.
The AGSM paved the way to the final amalgamation of the three companies and shares exchange. Application of the amalgamation and regulatory approval is on going and more details will be released once available.
On Behalf of the Board of Directors of Bayshore Petroleum Corp.
Peter Ho
Chief Executive Officer / Director
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statements
Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.
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Contact information:
Peter Ho, Chief Executive Officer and Director
peter.ho@bayshorepetroleum.com
+1 (403) 630 4355
