New Zealand Energy Corp. Announces Reinstatement to Trading
Rhea-AI Summary
New Zealand Energy Corp. (TSXV: NZ, OTC: NZERF) announced that trading in its common shares will be reinstated on the TSX Venture Exchange shortly. The company outlined current board composition, noting only one independent director after a May 14, 2026 resignation, triggering a TSXV 90‑day notice to restore compliance.
New Zealand Energy also detailed its corporate finance advisory engagements with Auctus Advisors, including services provided and total consideration of £150,000 (C$272,750 equivalent) for 2024–2025 and C$175,000 for a 2026 engagement.
Positive
- Reinstatement of trading on TSX Venture Exchange for common shares
- Continued Auctus Advisors corporate finance support with disclosed fees of C$272,750 and C$175,000
Negative
- Board has only one independent director, below TSXV minimum of two
- Company on 90-day TSXV notice to restore independent director compliance
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2026) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to announce that trading in the Company's common shares will be reinstated on the TSX Venture Exchange (the "TSXV") shortly. The Company thanks its shareholders for their patience throughout this process. In connection with the reinstatement of trading, the Company also provides the following corporate updates.
The following table sets out the members of the Company's board of directors (the "Board"), and identifies those directors who are independent within the meaning of applicable TSXV policies, as well as the members of the Company's Audit Committee:
| Director | Independent Director | Audit Committee Member |
| Robert Bose | No | Yes |
| Bill Treuren | Yes | Yes |
| Toby Pierce | No (CEO) | No |
| Michael Adams | No | Yes |
Following the resignation of Mr. Frank Jacobs as a director on May 14, 2026, the Board is currently comprised of only one independent director, Mr. Treuren. As a result, the Company does not currently satisfy the requirement under Exchange Policy 3.1 to maintain at least two independent directors on its Board.
The Company has been actively searching for a suitable candidate to fill the resulting vacancy and restore compliance with the TSXV requirement. The Company intends to announce the appointment of a new independent director by way of a further news release once the appointment has been finalized in due course.
The Company has been placed on a 90-day notice, pursuant to TSXV Policy 3.1, section 5.7, to satisfy the independent director requirement, effective in conjunction with the reinstatement of trading in the Company's common shares.
The Company also refers to its previous news release dated March 21, 2024, and confirms that the Company's original engagement letter with Auctus Advisors LLP ("Auctus"), dated February 20, 2024, remains active, and that Auctus has continuously acted as the Company's investor relations provider since February 2024.
The Company further discloses that it engaged Auctus pursuant to a Corporate Finance Advisor Appointment Letter dated December 30, 2024, as amended by a Side Letter dated July 16, 2025, which extended the term of the engagement to September 30, 2025 (together, the "2024 Engagement"). The Company re-engaged Auctus pursuant to a Corporate Finance Advisor Appointment Letter dated February 10, 2026, for a fixed term expiring June 30, 2026 (the "2026 Engagement"). Under each of these engagements, Auctus' services to the Company were for corporate finance advisory services, including M&A screening, M&A buy-side execution support, and general corporate strategy and financial modelling advice. Total consideration paid to Auctus under the 2024 Engagement was £150,000 (C
About New Zealand Energy Corp.
NZEC is a publicly listed energy company focused on the development of oil, gas, and gas-storage opportunities in New Zealand. The Company holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project in Taranaki. With a
For further information:
Toby Pierce, Chief Executive Officer
Email: info@newzealandenergy.com
Phone: +6467574470
Website: www.newzealandenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this release include, but are not limited to, statements regarding the resumption of trading in the Company's common shares on the TSX Venture Exchange, the Company's search for and anticipated appointment of a new independent director, and the Company's ability to satisfy the two-independent-director requirement within the 90-day notice period referred to above.
Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Accordingly, readers should not place undue reliance on forward-looking statements. NZEC does not undertake any obligation to update forward-looking statements, except as required by applicable securities laws.
This release is for information purposes only and does not constitute an offer or solicitation to buy or sell any securities. Technical and operational information is preliminary, subject to change, and may depend on future study results, commercial negotiations, and regulatory approvals.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307369