Strata-X Announces Results of Extraordinary General Meeting of Shareholders

DENVER, COLORADO USA, BRISBANE, QUEENSLAND AUSTRALIA and VANCOUVER, BRITISH COLUMBIA CANADA - August 5, 2014 (Pacific Time - Canada)

The directors and management of Strata-X Energy Ltd. (Strata-X or the Company) (TSX-V:SXE) (ASX:SXA) are pleased to announce that its shareholders voted in favour of all resolutions brought before them at the Company's Extraordinary General Meeting of Shareholders held today in Denver, Colorado, USA.

Notice is hereby given, in accordance with ASX Listing Rule 3.13.2 that at the Extraordinary General Meeting (EGM) of the Company, the resolutions as set out below were passed by a show of hands without amendment.

Resolution 1 (Ordinary Resolution)
“To approve an amendment to the expiry dates of Warrants issued to investors in connection with a capital raising conducted in July 2012 on the terms and conditions as set out in the management information circular accompanying this notice, for the purposes of a waiver from Listing Rule 6.23.3 granted by ASX to the Corporation on  May  12, 2014.”

Resolution 2 (Ordinary Resolution)
“To ratify the issuance of a maximum of  6,503,554 Chess Depository Units (CDIs)  to sophisticated and professional investors for the purpose of ASX Listing Rule 7.4 and for all other purposes.”

Resolution 3 (Ordinary Resolution)
“To approve the issuance of a maximum of 50,000,000 Shares under a public offering expected to be completed by way of short form prospectus (Short Form Prospectus) for the purpose of ASX Listing Rules 7.1 and for all other purposes.”

Resolution 4 (Ordinary Resolution)
“To approve the issuance of a maximum of 400,000 Shares under the Short Form Prospectus to Mr Tim Hoops for the purpose of ASX Listing Rule 10.11 and for all other purposes.”

Resolution 5 (Ordinary Resolution)
“To approve the issuance of a maximum of 1,000,000 Shares under the Short Form Prospectus to Mr Ron Prefontaine for the purpose of ASX Listing Rule 10.11 and for all other purposes.”

Resolution 6 (Ordinary Resolution)
“To approve the issuance of a maximum of  100,000 Shares under the Short Form Prospectus to Mr Tim Bradley for the purpose of ASX Listing Rule 10.11 and for all other purposes.”

Resolution 7 (Ordinary Resolution)
“To approve the issuance of a maximum of 175,000 Shares under the Short Form Prospectus to Mr Don Romaniuk for the purpose of ASX Listing Rule 10.11 and for all other purposes.”

In respect of the resolutions, the total number of proxy votes exercisable by all proxies validly appointed and the total number of proxy votes in respect of which the appointments specified that:

  1. The proxy was to vote for the resolution; and
  2. The proxy was to vote against the resolution; and
  3. The proxy was able to vote at the proxy’s discretion; and
  4. The proxy abstained from voting.

are set out below:

Resolution

For

Against

Discretion

Abstain

Total

1

21,993,952

14,185,868

-

14,687,703

50,867,523

2

50,033,238

144,285

-

690,000

50,867,523

3

50,800,738

66,785

-

-

50,867,523

4

38,463,172

271,017

-

12,133,334

50,867,523

5

35,929,803

250,017

-

14,687,703

50,867,523

6

44,596,506

271,017

-

6,000,000

50,867,523

7

50,186,506

271,017

-

410,000

50,867,523

 

About Strata-X
Strata-X is a Denver, Colorado (USA) based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Texas, Illinois and Western Australia and production and development opportunities in California. Strata-X has 146,288,969 common shares outstanding and trades under the symbol “SXE” on the TSX-V and “SXA” on the ASX.

For further information please contact:

Tim Hoops (USA) or Colin Christensen (Canada) or Duncan Cornish (Australia)
President   Investor Relations   Corporate Secretary
+1 855-463-2400   +1 403-483-8363   +61 7 3212-6299
info@strata-x.com   colin@strata-x.com   dcornish@strata-x.com

This announcement was made in Canada for the TSX.V and in Australia for the ASX.
Public documents for Strata-X Energy Ltd. can be found at SEDAR (Canada) (www.sedar.com) and ASX.com.au (Australia).
CAUTIONARY STATEMENT
By definition of the COGE Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected and the forward-looking statements included in this news release should not be unduly relied upon. See "Risks and Uncertainties" in the Company's Filing Statement dated August 30, 2011 available on SEDAR at www.sedar.com These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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.