New Zealand Energy Corp. Reports Annual General and Special Meeting Voting Results

Rhea-AI Summary

New Zealand Energy Corp. (OTC: NZERF) reported shareholder voting results from its annual general and special meeting held on December 30, 2025 in Vancouver.

Key outcomes: shareholders fixed the board size at five directors and elected all five nominees from the management information circular dated December 4, 2025; Crowe MacKay LLP was appointed as auditor for the upcoming year with directors authorized to fix remuneration; and shareholders approved a rolling incentive stock option plan allowing issuance of up to 10% of issued and outstanding common shares from time to time.

Positive

• Board stability: Five directors elected unanimously at meeting
• Auditor appointed: Crowe MacKay LLP named auditor for upcoming year
• Incentive plan approved: Rolling stock option plan enables ongoing employee equity awards

Negative

• Potential dilution: Stock option plan permits issuance up to 10% of outstanding shares

Vancouver, British Columbia--(Newsfile Corp. - December 30, 2025) - New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") is pleased to report the voting results for the Company's annual general and special meeting of shareholders (the "Meeting") held on December 30, 2025, in Vancouver, British Columbia.

Fixing the Number and Election of Directors

Shareholders fixed the number of directors at five (5), and all five (5) of the nominees listed in NZEC's management information circular dated December 4, 2025, that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company's shareholders or until their successors are elected or appointed.

Appointment of Auditors

Shareholders appointed Crowe MacKay 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, which is a rolling stock option plan that permits the issuance of up to an aggregate of 10% of the issued and outstanding common shares of the Company from time to time, was approved by shareholders.

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 50% ownership stake in the Waihapa production station, the Company can quickly tie in any near-term production and sell directly to market. For more information, please visit www.newzealandenergy.com.

For further information, please contact:

Mike Adams, Chief Executive Officer
Tel: +64-6-757-4470‎
Email: info@newzealandenergy.com

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws, including statements with regard to the results of the Meeting. These statements address future events and conditions and are reliant on assumptions made by the Company's management, and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279251

FAQ

What were the results of New Zealand Energy Corp.'s December 30, 2025 shareholder meeting (NZERF)?

Shareholders fixed the board at five directors, elected all five nominees, appointed Crowe MacKay LLP as auditor, and approved a rolling stock option plan up to 10% of outstanding shares.

How many directors were elected at New Zealand Energy Corp.'s 2025 annual meeting (NZERF)?

Shareholders fixed the number of directors at five and all five management nominees were duly elected.

What stock option plan did New Zealand Energy Corp. approve on December 30, 2025 (NZERF)?

A rolling incentive stock option plan was approved permitting issuance of up to 10% of issued and outstanding common shares from time to time.

Who was appointed auditor for New Zealand Energy Corp. for the upcoming year (NZERF)?

Crowe MacKay LLP was appointed as the company's auditor and directors were authorized to fix its remuneration.

Does the approved NZERF stock option plan create shareholder dilution risk?

Yes; the approved plan allows issuance up to 10% of outstanding shares, which represents potential dilution if fully granted and exercised.