Canadian Energy Services & Technology Corp.
TSX : CEU
OTCQX : CESDF

Canadian Energy Services & Technology Corp.

June 18, 2015 16:45 ET

Canadian Energy Services & Technology Corp. Announces Voting Results of the Election of Directors and Declaration of Cash Dividend

CALGARY, ALBERTA--(Marketwired - June 18, 2015) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Canadian Energy Services & Technology Corp. ("CESTC" or the "Corporation") (TSX:CEU)(OTCQX:CESDF) announces that, at the annual general meeting of shareholders held on June 18, 2015 (the "Meeting"), each of the nine nominees listed in the management information circular of the Corporation dated May 15, 2015 (the "Circular") were elected as directors of the Corporation.

Voting Results of Election of Directors

Based on the proxies received and on a ballot conducted at the meeting, the following individuals were elected as directors of the Corporation until the next annual shareholders' meeting:

Name of Nominee Votes cast FOR % of votes cast FOR Votes cast WITHHELD % of votes cast WITHHELD
Burton J. Ahrens 143,809,369 99.02% 1,429,386 0.98%
Colin D. Boyer 143,691,799 98.93% 1,546,956 1.07%
Rodney L. Carpenter 144,939,133 99.79% 299,622 0.21%
John M. Hooks 128,279,339 88.32% 16,959,416 11.68%
Kyle D. Kitagawa 143,708,499 98.95% 1,530,256 1.05%
Philip J. Scherman 144,172,977 99.27% 1,065,779 0.73%
Thomas J. Simons 144,939,133 99.79% 299,622 0.21%
D. Michael G. Stewart 136,496,973 93.98% 8,741,782 6.02%
Jason H. West 141,408,404 97.36% 3,830,351 2.64%

All other resolutions provided for in the Circular were duly passed and a report on the voting results has been filed today with the Canadian securities regulatory authorities at www.sedar.com.

Dividend Declared

In addition, CESTC announces today that it will pay a cash dividend of $0.0275 per common share on July 15, 2015 to shareholders of record at the close of business on June 30, 2015.

About Canadian Energy Services & Technology Corp.

CESTC is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CESTC's business model requires limited re-investment capital to grow. As a result, CESTC has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow. CESTC returns much of this free cash flow back to shareholders through its monthly dividend. Additional information about CESTC is available at www.sedar.com or on the Corporation's website at www.CanadianEnergyServices.com.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Canadian Energy Services & Technology Corp.
    Tom Simons
    President and Chief Executive Officer
    (403) 269-2800

    Canadian Energy Services & Technology Corp.
    Craig Nieboer, CA
    Chief Financial Officer
    (403) 269-2800
    info@ceslp.ca