Cardinal Energy Ltd.
TSX : CJ

Cardinal Energy Ltd.

May 10, 2016 19:35 ET

Cardinal Energy Ltd. Announces Election of Directors and Confirms Monthly Dividend

CALGARY, ALBERTA--(Marketwired - May 10, 2016) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) announces that at its annual and special meeting of shareholders held today each of the five nominees proposed as directors were elected as directors. Detailed results of the vote are set out below.

Name of Nominee Votes For Percent Votes Withheld
Percent
M. Scott Ratushny 47,015,501 91.38% 4,435,127 8.62%
John A. Brussa 39,834,489 77.42% 11,616,139 22.58%
David D. Johnson 47,708,884 93.39% 3,378,212 6.61%
James C. Smith 48,064,926 93.42% 3,385,702 6.58%
Gregory T. Tisdale 48,061,589 93.42% 3,385,507 6.58%

All other matters considered at the meeting were also approved.

Cardinal also confirms that a dividend of $0.035 per common share will be paid on June 15, 2016 to shareholders of record on May 31, 2016 with an ex-dividend date of May 27, 2016. The Board of Directors of Cardinal has declared the dividend payable in either cash or common shares at the election of the shareholder. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes.

Cardinal is a junior Canadian oil focused company built to provide investors with a stable platform for dividend income and growth. Cardinal's operations are focused in all season access areas in Alberta.

Contact Information

  • Cardinal Energy Ltd.
    M. Scott Ratushny
    Chief Executive Officer and Chairman
    (403) 216-2706

    Cardinal Energy Ltd.
    Douglas Smith
    Chief Financial Officer
    (403) 216-2709

    Cardinal Energy Ltd.
    Laurence Broos
    VP Finance
    (403) 727-2021

    Cardinal Energy Ltd.
    (403) 234-8681
    (403) 234-0603 (FAX)
    info@cardinalenergy.ca