SOURCE: Ithaca Energy Inc.

June 18, 2014 11:50 ET

Ithaca Energy Inc. Annual & Special Meeting of Shareholders Voting Results 18 June 2014

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

CALGARY, AB--(Marketwired - Jun 18, 2014) - Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) ("Ithaca" or the "Company") announces the results from its 2014 Annual and Special Meeting of Shareholders that was held at on 17 June 2014 at 14.00 (local time) in Calgary, Alberta (the "Meeting").

For information concerning each of the matters voted upon at the Meeting please see the Company's management information circular dated May 15, 2014 (the "Information Circular"), which is available under the Company's profile on SEDAR at www.sedar.com.

A total of 172,168,463 common shares representing 52.43% of the Company's issued and outstanding common shares were voted in connection with the Meeting. The voting results for each matter voted on by the Company's shareholders at the Meeting is provided below:

1. Fixing the Number of Directors
The shareholders passed a resolution fixing the number of directors to be elected at the Meeting at eight.

2. Election of Directors
All of the nominees named in the Information Circular were elected as directors of the Company. The detailed results of voting are as follows:

Nominee Votes For %
Jack C. Lee 165,712,221 97.28%
Les Thomas 169,790,926 99.68%
Ron A. Brenneman 169,255,379 99.37%
Brad Hurtubise 161,401,851 94.97%
Franklin M. Wormsbecker 169,758,515 99.66%
Jay M. Zammit 132,465,044 77.95%
Jannik Lindbaek 169,727,510 99.64%
Alec Carstairs 169,729,415 99.64%

3. Appointment of Auditors
The shareholders approved the appointment of PricewaterhouseCoopers LLP, Chartered Accountants (Aberdeen), as the auditors of the Company to hold office until the close of the next annual meeting of shareholders of the Company at a remuneration to be fixed by the directors.

4. Approval of Unallocated Stock options
The shareholders passed a resolution to approve and ratify all unallocated stock options under the Company's stock option plan. The vote in respect of this matter was carried out by ballot, with 90.71% of votes cast being in favour of the resolution.

5. Approval of amendments to Stock Option Plan
The shareholders passed a resolution to approve certain amendments to the Company's stock option plan. The vote in respect of this matter was carried out by ballot, with 91.95% of votes cast being in favour of the resolution.

About Ithaca Energy
Ithaca Energy Inc. (TSX: IAE) (LSE: IAE) is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries, the exploitation of its existing UK producing asset portfolio and a Norwegian exploration and appraisal business targeting the generation of discoveries capable of monetisation prior to development. Ithaca's strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25 kboe/d North Sea oil and gas company. For further information, please consult the Company's website, www.ithacaenergy.com.

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

Contact Information