Edge Resources Inc. Results of Annual General and Special Meeting (9862U)

TIDMEDG

RNS Number : 9862U

Edge Resources Inc.

12 April 2016

TSX Venture Exchange Symbol: EDE

AIM Exchange Symbol: EDG April 12, 2016

EDGE RESOURCES INC. Calgary, Alberta

Edge Resources Announces Results of Annual General and Special Meeting

Edge Resources Inc. ("Edge" or the "Company") announces the results of its annual general and special meeting (the "Meeting") of shareholders of the Company held on Monday, April 11, 2016. The Meeting was held, in part, to seek the approval of shareholders for the delisting of the Company's common shares on the AIM Exchange. Shareholders approved the delisting from AIM by a 99.92% majority andthe Company's admission to AIM will be cancelled on April 15(th) , 2016.

An aggregate of 13,377,953 common shares were represented at the meeting either in person or by proxy, representing approximately 7.86% of the issued and outstanding common shares of the Company.

All resolutions sought from shareholders in the Company's management Information Circular dated March 11, 2016 distributed to shareholders prior to the Meeting (the "Information Circular") were carried by a positive vote of greater than 99.5% of shares voted at the Meeting. The resolutions included the following:

   1.      fixing the number of directors of the Corporation at three; 
   2.      electing Brad Nichol, Scott Reeves, and Chris Cooper as the Directors for the ensuing year; 

3. re-appointing Collins Barrow Calgary LLP, Chartered Accountants, the auditors of the Corporation for the ensuing year;

   4.      ratifying, adopting and re-approving the stock option plan of the Company; 

5. cancelling admission of the Company's shares to trading on London's AIM exchange pursuant to Rule 41 of the AIM Rules;

6. approving the consolidation of the Company's issued and outstanding common shares on the basis of up to 20 to 1 existing Common Shares for new Common Shares;

7. approving the creation of a "Control Person" within the meaning of the rules and policies of the TSX Venture Exchange;

All as further described in the Information Circular.

The Company had previously announced on April 5, 2016 that its lender ("ATB") had provided notice requiring payment in full of Edge's outstanding indebtedness plus interest, costs and fees by Monday, April 11, 2016 at 5:00 p.m. MST; however, the deadline is now Thursday, April 14, 2016 at 9:00 a.m. MST.

The Company is in continued discussions with its subordinated lender and other parties to acquire the debt from ATB. While the Company is hopeful and encouraged that a deal will be struck to acquire the debt, which would allow the Company to continue operating, there are no guarantees this will happen before the deadline imposed by ATB.

If payment is not made, it is expected that ATB will undertake action to enforce its security shortly thereafter, which is a process that will take approximately one week to conclude.

For more information, visit the company website: www.edgeres.com or contact:

Brad Nichol, President and CEO Phone: [phone]

About Edge Resources Inc.

Edge Resources is focused on developing a balanced portfolio of oil and natural gas assets from properties in Alberta and Saskatchewan, Canada. Management has consistently focused on:

1. Shallow, vertical, conventional programs with reduced capital, operational and geological risks

   2.       Very high or 100% working interests and fully operated assets 
   3.       Pools and horizons with large reserves in place 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 12, 2016 11:58 ET (15:58 GMT)