Tenth Avenue Petroleum Shareholders Approve Corporate Name Change and Board Elections

Tenth Avenue Petroleum Corp. (TSXV:TPC) announced the results of its annual general and special meeting held on September 17, 2025, where shareholders demonstrated strong support for key corporate initiatives. All director nominees listed in the management proxy circular were elected, with the resolution to fix the number of directors at four receiving approval from represented shareholders.

The meeting saw significant shareholder participation, with 16,783,724 common shares, representing 37.22% of the company's issued and outstanding shares as of the record date, participating either in person or by proxy. This level of engagement indicates substantial investor interest in the company's governance and strategic decisions. The newly elected directors will serve until the next annual meeting or until their successors are appointed.

Shareholders overwhelmingly approved the company's stock option plan, with 99.843% of represented shares voting in favor of the resolution. This near-unanimous support suggests confidence in the company's compensation structure and its alignment with shareholder interests. The appointment of Crowe & McKay LLP as company auditors was also approved, ensuring continued financial oversight and transparency.

The most significant development from the meeting was the approval of the special resolution to change the company name to Decimus Oil Corp., which received 99.979% support from represented shareholders. This rebranding initiative, detailed in the Management Information Circular dated August 15, 2025, represents a strategic shift that could enhance market positioning and investor perception. Further disclosure on all matters approved at the meeting can be found in the Report of Voting Results available on SEDAR+.

The implications of these decisions extend beyond corporate governance. The name change to Decimus Oil Corp. may signal a refined corporate identity and strategic focus, potentially affecting investor relations and market positioning within the competitive energy sector. The strong shareholder support for all resolutions indicates confidence in current leadership and strategic direction, which could positively influence investor sentiment and stock performance. The approval of the stock option plan supports talent retention and performance incentives, crucial for maintaining operational excellence in the challenging energy market.

For stakeholders in the oil and gas industry, these developments highlight the importance of effective corporate governance and strategic rebranding in navigating market challenges. The company's commitment to transparency is evidenced through its disclosure documents available on regulatory platforms. The overwhelming shareholder support suggests alignment between management initiatives and investor expectations, potentially setting a precedent for other junior energy companies considering similar strategic moves.