Mr. Gerald Prosalendis reports
QUATERRA ANNOUNCES AGM RESULTS
All resolutions were passed by the requisite majority at Quaterra Resources Inc.'s annual general meeting (AGM) held in Vancouver, B.C., on June 30, 2020. PricewaterhouseCoopers LLP, chartered professional accountants, was reappointed as the auditor of the company for the ensuing year and shareholders approved the company's 2020 10-per-cent rolling stock option plan.
A total of 149,866,139 common shares were represented at the AGM, representing 68.84 per cent of the votes attached to all outstanding common shares as at the record date. All the matters submitted to the shareholders for approval, as set out in the company's notice of meeting and information circular dated May 22, 2020, were approved by the requisite majority of votes cast at the AGM. Five incumbent directors were re-elected, namely Thomas Patton, John Kerr, LeRoy Wilkes, Gerald Prosalendis and Terry Eyton.
Following the AGM, the board of directors reappointed Mr. Patton as chairman, Mr. Prosalendis as president and chief executive officer, Lei Wang as chief financial officer and Lawrence Page, QC, as corporate secretary.
The company has granted 3,175,000 incentive stock options to 24 directors, officers, employees and consultants, pursuant to the company's stock option plan. The options are exercisable at a price of eight cents per share for a period of five years and are subject to the policies of the TSX Venture Exchange.
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