Calgary, Alberta – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) is pleased to announce that all matters presented for approval at the Annual and Special Meeting of Shareholders held on April 20, 2022 have been fully authorized and approved. A total of 114,149,022 common shares, representing 59.68% of the common shares issued and outstanding, were represented in person or by proxy at the meeting. A brief description of the matters voted upon and the outcome of the votes is set forth below.
Fixing Number of Directors
The ordinary resolution to approve fixing the number of directors to be elected at the meeting at six (6) was approved at the meeting by way of a ballot, as follows:
| Votes For | % | Votes Against | % |
| 113,054,617 | 99.99 | 3,633 | 0.01 |
Election of Directors
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 | % | ||
| Geraldine L. Greenall | Elected | 111,566,001 | 98.68 | 1,492,249 | 1.32 | |
| William C. Guinan | Elected | 112,633,703 | 99.62 | 424,547 | 0.38 | |
| Michael R. Shea | Elected | 107,294,846 | 94.90 | 5,763,404 | 5.10 | |
| Neil G. Sinclair | Elected | 111,861,729 | 98.94 | 1,196,521 | 1.06 | |
| Janet E. Vellutini | Elected | 112,035,217 | 99.10 | 1,023,033 | 0.90 | |
| David J. Wilson | Elected | 104,977,811 | 99.62 | 396,847 | 0.38 |
Appointment of Auditor
An ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, as the auditors of the Company, was approved at the meeting by way of a ballot, as follows:
| Votes For | % | Withheld | % |
| 112,359,983 | 98.43 | 1,789,039 | 1.57% |
Stock Option Plan
An ordinary resolution to approve the unallocated entitlements under the stock option plan of the Corporation, was approved at the meeting by way of a ballot, as follows:
| Votes For | % | Withheld | % |
| 111,949,677 | 99.02 | 1,108,573 | 0.98 |
Restricted Share Unit Plan
An ordinary resolution to approve the unallocated entitlements under the restricted share unit plan of the Corporation, was approved at the meeting by way of a ballot, as follows:
| Votes For | % | Withheld | % |
| 96,681,896 | 85.52 | 16,376,354 | 14.48 |
Contact Information
For further information please contact:
Kelt Exploration Ltd., Suite 300, 311-6th Avenue SW, Calgary, Alberta, Canada T2P 3H2.
David Wilson, President and Chief Executive Officer (403) 201-5340, or
Sadiq Lalani, Vice President and Chief Financial Officer (403) 215-5310.
Or visit our website at www.keltexploration.com.