Stockholm, 2013-08-19 08:30 CEST (GLOBE NEWSWIRE) --
Petrogrand AB cancels the EGM 23 August 2013 due to late notice.
The notice in the Post-och Inrikes Tidningar was introduced too late and the company then chooses to cancel the meeting.
New date for the Extraordinary General Meeting is September 11, 2013 and the announcement will be made ??later this week, with unchanged agenda but changed date.
For further information, please contact:
Maks Grinfeld, CEO, phone: +46 8 5000 7810 Mikael Wallgren, Chairman, phone: +46 8 5000 7810 Certified Adviser First North: Mangold Fondkommission AB
Reasonable caution notice: The statement and assumptions made in the company's information regarding Petrogrand AB's ("Petrogrand") current plans, prognoses, strategies, concepts and other statements that are not historical facts are estimations or "forward looking statements" concerning Petrogrand's future activities. Such future estimations comprise but are not limited to statements that include words such as "may occur", "concerning", "plans", "expects", "estimates", "believes", "evaluates", "prognosticates" or similar expressions. Such expressions reflect the management of Petrogrand's expectations and assumptions made on the basis of information available at that time.
These statements and assumptions are subject to a large number of risks and uncertainties. These, in their turn, comprise but are not limited to I) changes in the financial, legal and political environment of the countries in which Petrogrand conducts business, II) changes in the available geological information concerning the company's projects in operation, III) Petrogrand's capacity to continuously guarantee sufficient financing to perform their activities as a "going concern", IV) the success of all participants in the group, or of the various interested companies, joint ventures or secondary alliances, V) changes in currency exchange rates, in particular those relating to the RUB/USD rate. Due to the background of the many risks and uncertainties that exist for any oil-prospecting venture and oil production company in its initial stage, Petrogrand's actual future development may significantly deviate from that indicated in the company's informative statements.
