Georox Resources Announces Results From Annual General Meeting and Date of Extension of Unit Placement

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

KELOWNA, BC, June 3, 2016 /CNW/ - Georox Resources Inc. ("Georox" or the "Corporation") (GXR: TSX-V; OF6A:FRA) announces the voting results of its Annual General Meeting of shareholders held in Calgary, Alberta on May 27, 2016. Each of the matters voted on at the meeting is outlined in the information circular dated April 27, 2016. Shareholders approved all the items of business before the meeting.

The resolution asking shareholders to fix the number of Directors to be elected at five was approved. The five nominees in the table below were elected as directors of the corporation to serve until the next meeting or until their successors are appointed or elected.

Nominee	Percentage of votes in favour
Burkhard Franz	99.99
Daryl S. Fridhandler	99.99
Lorraine McVean	99.99
Mansoor Anjum	99.99
Mo Fazil	99.99

 

The TSXV has granted the Corporation an extension for the private placement that was announced April 20, 2016. The extension has been granted until July 4, 2016 to close and complete the offering.

About Georox

The Corporation currently produces approximately 140 boepd of which 75% is light oil, 24% is heavy oil and 1% is gas.

Production volumes are commonly expressed on a barrel of oil equivalent ("BOE") basis whereby natural gas volumes are converted at a ratio of six thousand cubic feet to one barrel of oil.  The intention is to convert oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants.  The term BOE may be misleading, particularly if used in isolation.  The conversion ratio is based on an energy equivalent method and does not represent an economic value equivalency at the wellhead.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions.  All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties.  There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.  More particularly, it contains forward-looking statements concerning the use of proceeds from the Private Placement.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units (or constituent 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.

Neither the TSXV 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 Georox Resources Inc.

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