Pine Cliff Energy Ltd.
TSX VENTURE : PNE

Pine Cliff Energy Ltd.

May 19, 2016 19:15 ET

Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting

CALGARY, ALBERTA--(Marketwired - May 19, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) is pleased to announce all matters presented for approval at the annual and special meeting of shareholders on May 19, 2016 (the "Meeting") have been approved. A total of 139,217,155 common shares representing 45.56% of Pine Cliff's issued and outstanding common shares were voted in connection with the Meeting.

All of the nominees proposed as directors were duly elected and each of the directors received the following votes for their election. The results were as follows:

Name of Nominee Shares Voted For (Percentage)
Gary J. Drummond 134,297,979 (99.31 %)
George F. Fink 125,924,839 (93.12 %)
Philip B. Hodge 126,696,342 (93.69 %)
Randy M. Jarock 133,214,278 (98.51 %)
Carl R. Jonsson 133,927,278 (99.04 %)
William S. Rice 135,192,256 (99.97 %)

Additionally, Deloitte LLP was appointed as auditors of the Corporation for the ensuing year and the Directors were authorized to fix their remuneration. The results were as follows:

Shares Voted For (Percentage)
139,077,380 (99.90%)

Additionally, the Corporation's general by-laws were repealed and the new general by-laws were ratified by way of ballot. The results of the ballot were as follows:

Shares Voted For (Percentage)
126,140,086 (93.28%)

The complete report on voting for the Meeting is available at www.sedar.com.

Pine Cliff also announces that it has granted an aggregate of 300,000 stock options to a director of the Company. The stock options vest between one to three years, have an exercise price of $0.74 per share and will expire between May 19, 2018 and May 19, 2020.

About Pine Cliff

Pine Cliff is a natural gas company with a long-term view of creating shareholder value. Pine Cliff's current focus is on acquiring long life assets that are cash flow positive in a low commodity price environment. Further information relating to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff's website at www.pinecliffenergy.com.

Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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