Africa Energy Announces Annual Meeting Voting Results

VANCOUVER, BC, June 10, 2021 /CNW/ - Africa Energy Corp. (TSXV: AFE) (Nasdaq First North Growth Market: AEC) ("Africa Energy" or the "Company") held its annual general and special meeting of shareholders in Vancouver, British Columbia today. After the meeting, William Lundin was appointed as Chairman of the Board, replacing Adam Lundin who stepped down in order to comply with industry corporate governance guidelines regarding the maximum number of non-executive director appointments per individual. View PDF version

Garrett Soden, the Company's President and CEO, commented: "On behalf of the Board and senior management team, I would like to thank Adam for his invaluable leadership over the last few years. We appreciate the Lundin family's continued support for Africa Energy, and we look forward to working with Adam's brother, William, who is currently Chief Operating Officer of International Petroleum Corp., a Canadian oil and gas company with global operations."

Shareholders voted as follows on the matters before the meeting:

Election of Directors

Shareholders elected the following six (6) board members to serve on the Company's board of directors until the next annual meeting of shareholders or until their successors are elected or appointed:

Appointment of Auditors 

Shareholders reappointed PricewaterhouseCoopers LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor.

Approval of Stock Option Plan

The Company's incentive stock option plan was approved by shareholders with 99.95% of shares represented at the meeting voting in favour.

About Africa Energy Corp.

Africa Energy Corp. is a Canadian oil and gas company with exploration assets offshore South Africa and Namibia. The Company is listed in Toronto on TSX Venture Exchange (ticker "AFE") and in Stockholm on Nasdaq First North Growth Market (ticker "AEC"). Africa Energy is part of the Lundin Group of Companies.

Important information

This information is information that Africa Energy is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on June 10, 2021 at 5:30 p.m. ET.

The Company's certified advisor on Nasdaq First North Stockholm is Pareto Securities AB, +46 8 402 5000, certifiedadviser.se@paretosec.com.

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.

SOURCE Africa Energy Corp.