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

Canadian Energy Services & Technology Corp.

June 16, 2016 19:20 ET

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

CALGARY, ALBERTA--(Marketwired - June 16, 2016) - Canadian Energy Services & Technology Corp. ("CESTC" or the "Corporation") (TSX:CEU)(OTCQX:CESDF) announces that, at the annual and special meeting of shareholders held on June 16, 2016 (the "Meeting"), each of the nine nominees listed in the management information circular of the Corporation dated May 12, 2016 (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 162,312,300 98.09 % 3,158,817 1.91 %
Colin D. Boyer 160,058,432 96.73 % 5,412,685 3.27 %
Rodney L. Carpenter 164,743,189 99.56 % 727,928 0.44 %
John M. Hooks 154,884,802 93.60 % 10,586,315 6.40 %
Kyle D. Kitagawa 157,900,239 95.42 % 7,570,878 4.58 %
Philip J. Scherman 164,110,329 99.18 % 1,360,788 0.82 %
Thomas J. Simons 164,744,089 99.56 % 727,028 0.44 %
D. Michael G. Stewart 156,124,809 94.35 % 9,346,308 5.65 %
Jason H. West 161,228,346 97.44 % 4,242,771 2.56 %

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 $0.0025 per common share on July 15, 2016 to shareholders of record at the close of business on June 30, 2016.

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 is relatively asset light and 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. Additional information about CESTC is available on the Corporation's website at www.CanadianEnergyServices.com.

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RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

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

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