CALGARY, Alberta and DENVER, June 30 /CNW/ -- Storm Cat
Energy Corporation (Amex: SCU; TSX: SME) is pleased to announce that the
Company's shareholders approved all special and routine business matters
submitted for their consideration at the annual general and special meeting
held in Vancouver, B.C. yesterday afternoon.
Shareholders passed a special resolution amending the Articles of the
Company to, among other things, create a class of Preferred Shares issuable in
series. In addition, resolutions were adopted to: (i) give the directors the
authority to seek additional equity financing over the coming year; (ii) adopt
a Restricted Share Unit Plan; and (iii) to amend the Company's Share Option
Plan to, among other things, increase the number of Common shares reserved for
issuance under the Plan. Hein & Associates LLP were re-appointed auditors for
the ensuing year, and the following persons were elected to the Company's
Board of Directors: J. Scott Zimmerman, Michael O'Byrne, Robert D. Penner,
Michael J. Wozniak, Robert J. Clark, David G. Wight, and Jon R. Whitney.
Further particulars about the Company's annual meeting can be found in the
Company's management proxy circular dated May 12, 2006.
At the Directors' meeting held immediately following the annual
shareholders' meeting, the Directors appointed the following officers to serve
for the ensuing year: J. Scott Zimmerman, President and Chief Executive
Officer; Paul Wiesner, Secretary, Treasurer and Chief Financial Officer; Keith
Knapstad, Vice-President, Operations (USA); and, Don Martin, Vice-President,
Canada & International Operations. Other routine business was approved at the
meeting of the Directors, including the appointment of members of the Audit,
Compensation, and Nominating Committees, the creation of and appointment of
members to an Executive Committee and the adoption of an Executive Committee
Charter, and increasing the quorum requirement for Directors meetings. In
addition, the Board approved amendments to the Company's equity compensation
plans to bring them in line with the rules and policies of the Toronto Stock
Exchange.
About Storm Cat Energy
Storm Cat Energy is an independent oil and gas company focused on the
pursuit, exploration and development of large unconventional gas reserves from
fractured shales, coal beds and tight sand formations. The Company has
producing properties in Wyoming's Powder River Basin, exploitation and
development acreage in Canada and Alaska, and high-risk, high-reward
exploration acreage in Mongolia. The Company's shares trade on the American
Stock Exchange under the symbol "SCU" and in Canada on the Toronto Stock
Exchange under the symbol "SME."
NO STOCK EXCHANGE HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
