Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company”) is pleased to announce all matters presented for approval at the Annual and Special Meeting of Shareholders on May 19, 2021 (the “Meeting”) have been approved. A total of 127,921,923 common shares representing 38.05% 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. Each of the nominees was elected as shown below:
| Name of Nominee | Shares Voted For | Votes Withheld |
| George F. Fink | 107,075,491 | 16,071,692 |
| Robert B. Fryk | 109,885,267 | 13,261,916 |
| Philip B. Hodge | 123,076,324 | 70,859 |
| Jacqueline R. Ricci | 109,494,132 | 13,653,051 |
| William S. Rice | 109,891,367 | 13,255,816 |
Additionally, Deloitte LLP was appointed as auditors of the Corporation for the ensuing year and the directors were authorized to fix their remuneration. The complete report on voting for the Meeting is available at www.sedar.com.
Pine Cliff also announces that its Board of Directors has approved its annual stock option grant of an aggregate of 11,149,600 stock options to its directors, officers, employees and certain service providers. The stock options vest between one to three years, have an exercise price of $0.33 per share and will expire between May 19, 2023 and May 19, 2025. As of the date hereof and after the grant of the options described above, the total number of Pine Cliff common shares reserved for issuance pursuant to stock options outstanding is 28,612,944, which represents 8.51% of common shares outstanding.
For further information, please contact:
Philip B. Hodge – President and CEO
Alan MacDonald -CFO and Corporate Secretary
Telephone: (403) 269-2289
Fax: (403) 265-7488
Email: info@pinecliffenergy.com