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.
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