EMERALD BAY ANNOUNCES RESULTS OF SPECIAL MEETING OF SHAREHOLDERS
Emerald Bay Energy Inc. (TSX Venture: EBY OTC: EMBYF) (the “Corporation”, the “Company” or “Emerald Bay”) today announced that at its special meeting of the Company’s shareholders held on February 28, 2020 (the “Special Meeting”) the shareholders approved, via special resolutions, the following: (i) the consolidation of the issued and outstanding Common Shares of the Corporation on a “1 new for 15 old” basis (the “Consolidation”); and (ii) changing the Corporation’s name to “Nexera Energy Inc.” (the “Name Change”).
The Corporation is currently coordinating the timing for the implementation of the Consolidation and Name Change (management of the Corporation anticipates it to occur in the next 5 to 10 business days). As of the today’s date, there are 354,103,367 Common Shares issued and outstanding. There will be, post-Consolidation, approximately 23,606,891 Common Shares issued and outstanding.
ABOUT EMERALD BAY
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) is an energy company with oil producing properties in Southwest Texas as well as non-operated oil and natural gas interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadalupe, Texas, where the Company currently now owns a 50.00% working interest those projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
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For further information, please contact: Emerald Bay President and CEO, Shelby D. Beattie, or CFO, Mike Rice, (403) 262-6000, firstname.lastname@example.org, www.ebyinc.com
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