SOURCE: Kelt Exploration Ltd.

Kelt Exploration Ltd.

April 21, 2016 17:15 ET

Kelt Announces Results of Shareholders' Meeting

CALGARY, AB--(Marketwired - April 21, 2016) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) is pleased to announce that all matters presented for approval at the annual and special meeting of shareholders held April 20, 2016 have been fully authorized and approved. A total of 119,955,773 common shares, representing 71.11% of the common shares, were represented in person or by proxy at the meeting.

At the meeting, by vote by way of a show of hands, an ordinary resolution to approve fixing the number of directors to be elected at the meeting at five (5), was approved.

In addition, all of the nominees proposed as directors of the Company were duly elected as directors of the Company with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

                     
    Outcome of the Vote   Votes For   %   Withheld   %
Robert J. Dales   Elected   113,206,293   95.67%   5,121,700   4.33%
William C. Guinan   Elected   111,847,894   94.52%   6,480,099   5.48%
Eldon A. McIntyre   Elected   117,094,245   98.96%   1,233,748   1.04%
Neil G. Sinclair   Elected   117,087,960   98.95%   1,240,033   1.05%
David J. Wilson   Elected   118,222,220   99.91%   105,773   0.09%
                     

By vote by way of a show of hands, the ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, as the auditors of the Corporation, was approved.

The ordinary resolution to approve the unallocated options under the stock option plan of the Corporation and to ratify and approve the grant of certain stock options thereunder was approved, with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

             
Votes For   %   Against   %
92,649,100   78.30%   25,678,893   21.70%
             

Lastly, the ordinary resolution to approve the unallocated entitlements under the restricted share unit plan of the Corporation and to ratify and approve the grant of certain restricted share units thereunder was approved, with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

             
Votes For   %   Against   %
83,148,851   70.27%   35,179,142   29.73%
             

About Kelt

Kelt is a Calgary, Alberta, Canada-based oil and gas company focused on exploration, development and production of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia.

Contact Information

  • Additional Information

    For further information, please contact:

    Kelt Exploration Ltd.

    Suite 300, 311 - 6th Avenue SW
    Calgary, Alberta, Canada T2P 3H2

    David J. Wilson

    President and Chief Executive Officer
    (403) 201-5340

    Sadiq H. Lalani
    Vice President and Chief Financial Officer
    (403) 215-5310

    Or visit our website at www.keltexploration.com