CALGARY, ALBERTA–(Marketwired – May 12, 2015) – Cardinal Energy Ltd. (TSX:CJ) (“Cardinal” or the “Company“) announces that all matters presented for approval at the annual and special meeting of the shareholders of Cardinal held today have been fully authorized and approved. A total of 44,185,459 votes representing 77.1% of the total votes entitled to vote at the meeting, were voted in connection with the matters considered at the meeting.
By ordinary resolution passed via ballot, the number of directors to be elected at the meeting was fixed at five members. The results of the ballot were as follows:
| Votes For | Percent | Votes Withheld | Percent | |||||||
| 43,365,570 | 98.14 | % | 819,889 | 1.86 | % |
By ordinary resolution passed via ballot, all of the nominees proposed as directors were duly elected as directors of Cardinal to serve until the next annual meeting or until their successors are duly appointed or elected. The results of the ballot were as follows:
| Name of Nominee | Votes For | Percent | Votes Withheld | Percent | ||||||
| M. Scott Ratushny | 40,221,297 | 91.27 | % | 3,847,064 | 8.73 | % | ||||
| John A. Brussa | 35,389,399 | 80.31 | % | 8,678,962 | 19.69 | % | ||||
| David D. Johnson | 43,819,092 | 99.43 | % | 249,269 | 0.57 | % | ||||
| James C. Smith | 43,819,092 | 99.43 | % | 249,269 | 0.57 | % | ||||
| Gregory T. Tisdale | 43,866,131 | 99.54 | % | 202,230 | 0.46 | % |
By ordinary resolution passed via ballot, KPMG LLP, Chartered Accountants, were appointed as auditors of the Company until the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:
| Votes For | Percent | Votes Withheld | Percent | |||||||
| 44,099,709 | 99.81 | % | 85,750 | 0.19 | % |
By special resolution passed via ballot, the reduction of the stated capital account of Cardinal’s common shares by $200 million to be effective as of May 12, 2015 in the form set forth on pages 5 and 6 of the information circular – proxy statement of Cardinal dated April 1, 2015 was approved. The results of the ballot were as follows:
| Votes For | Percent | Votes Withheld | Percent | |||||||
| 43,979,921 | 99.81 | % | 85,440 | 0.19 | % |
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.
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.
Suite 600, 400 – 3rd Avenue S.W.
Calgary, Alberta T2P 4H2
(403) 234-8681
(403) 234-0603 (FAX)
info@cardinalenergy.ca