Toscana Energy Reports Voting Results of Annual and Special Meeting of Shareholders

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CALGARY, June 19, 2014 /CNW/ - Toscana Energy Income Corporation ("Toscana Energy" or the "Company") (TSX: TEI) held its annual and special meeting of shareholders on June 19, 2014 in Calgary.  A total of 1,182,854 common shares ("Common Shares") of the Company, representing approximately 22.35% of Common Shares, were represented in person or by proxy at the meeting.

During the regular business proceedings at the meeting, shareholders approved resolutions setting the number of directors to be elected at six, appointing Deloitte LLP as the Company's auditors, approving amendments to the Company's stock option plan, confirming the adoption of a new by-law to require, among other things, advance notice by any shareholder intending to nominate a director to the board of directors of the Company, amending the articles of the Company to remove the Series A Cumulative Preferred Shares, and approving a plan of arrangement under section 193 of the Business Corporations Act (Alberta), involving, among others, Toscana Energy, Toscana Financial Income Trust and the unitholders of Toscana Financial Income Trust with 100% of the Common Shares represented in person or by proxy at the meeting approving such resolution.

In addition, the six director nominees proposed by management were elected by ballot at the meeting.  Proxies and in person votes were received as follows:

Nominee Votes For   Votes Withheld
    Number   Percentage     Number   Percentage
Thomas Budd   1,177,163   100.00%     0   0.00%
Donald Copeland   1,177,163   100.00%     0   0.00%
Joseph Durante   1,176,613   99.95%     550   0.05%
John Festival   1,177,163   100.00%     0   0.00%
Martin Hislop   1,177,163   100.00%     0   0.00%
Brian Krausert   1,177,163   100.00%     0   0.00%

About Toscana Energy Income Corporation

Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.  Toscana Energy is managed by Sprott Toscana through Toscana Energy Corporation. Sprott Toscana is a member of the Sprott Group of Companies.

About Sprott Toscana

Sprott Toscana (formerly Toscana Merchant Group) is a team of Calgary-based energy specialists that manage two separate businesses: Toscana Energy Income Corporation (through Toscana Energy Corporation) and Toscana Financial Income Trust. In July 2012, Toscana Merchant Group joined the Sprott Group of Companies when it was acquired by Sprott Inc. (TSX: SII), Canada's leading alternative asset manager and a global leader in resource investing. 

SOURCE Toscana Energy Income Corporation

For further information:

please visit our website at www.sprott-toscana.com or contact:

Joseph S. Durante, Chief Executive Officer
Tel: (403) 410-6793
Fax: (403) 444-0090