|By Marketwired .||
|January 13, 2013 08:34 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/14/13 -- WellStar Energy Corp. (TSX VENTURE:WSE.H)(FRANKFURT:W6V1) (the "Company" or "WellStar"), shareholders approved all the resolutions put before them at the Company's Annual General and Special Meeting (the "Meeting") held on January 9, 2013 at Vancouver, BC. At the Meeting shareholders voted to re-elect Andrew H. Rees, Janis Cardiff, Minaz Dhanani and Russel Murray as directors for the ensuing year; to reappoint MacKay LLP as the Company's auditors for the ensuing year and authorized the directors to fix the auditor's remuneration; and approved the Company's Stock Option Plan. The shareholders also approved the consolidation of the Company's common shares on the basis of 2 1/2 old shares for one new common share in the equity of the Company. The stock option plan and share consolidation remain subject to TSX Venture Exchange approval. For more information on these matters, please refer to WellStar's information circular, available on SEDAR (www.sedar.com).
Following the Meeting, the directors reappointed Mr. Andrew H. Rees as CEO and Mr. Minaz Dhanani as CFO of the Company. The Company's audit committee is comprised of Minaz Dhanani, Russel Murray and Janis Cardiff.
The Board of Directors would like to thank the shareholders for their ongoing support.
ON BEHALF OF THE BOARD
Andrew H. Rees, President and Chief Executive Officer
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
Neither the 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.
WellStar Energy Corp.
Andrew H Rees
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