Painted Pony Announces Results from 2017 Annual General and Special Meeting of Shareholders

CALGARY, May 12, 2017 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce the results from the 2017 Annual General and Special Meeting of Shareholders held on May 11, 2017 (the "Meeting"). 

Proposed Acquisition of UGR Blair Creek Ltd.

Shareholders approved the issuance of 41,000,000 common shares of Painted Pony to Unconventional Resources Canada, LP (the "Vendor") as total consideration for the purchase of all of the shares of UGR Blair Creek Ltd. from Vendor by Painted Pony (the "Share Issuance"). The results of the voting on the Share Issuance is set forth below.

Resolution


Outcome of Vote


Percentage
of Votes For


Percentage of
Votes Against

Share Issuance


Passed


74.47%


25.53%

 

The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the shares to be issued to the Vendor, subject to the Corporation fulfilling all of the requirements of the TSX.

Election of Directors

Shareholders elected each of the nominees proposed by management as set forth in the information circular of the Corporation dated March 30, 2017.  The results of the voting on the election of directors is set forth below.

Director Nominee


Outcome of Vote


Percentage
of Votes For


Percentage of
Votes Withheld


Kevin D. Angus


Passed


92.17%


7.83%


Glenn R. Carley


Passed


92.17%


7.93%


David W. Cornhill


Passed


83.26%


16.74%


Joan E. Dunne


Passed


92.29%


7.71%


Nereus L. Joubert


Passed


92.15%


7.85%


Lynn Kis


Passed


92.17%


7.81%


Arthur J. G. Madden


Passed


92.16%


7.84%


Patrick R. Ward


Passed


92.26%


7.74%


Peter A. Williams


Passed


92.20%


7.80%


 

Each of the directors elected at the Meeting will hold office until the close of the next annual meeting of shareholders of the Corporation or until his or her successor is duly elected or appointed pursuant to the by-laws of the Corporation. 

Name Change to Painted Pony Energy Ltd.

Shareholders approved the amendment to the Articles of the Corporation to change the name of the Corporation from Painted Pony Petroleum Ltd. to Painted Pony Energy Ltd. (the "Name Change"). The results of the voting on the Name Change is set forth below.

Resolution


Outcome of Vote


Percentage
of Votes For


Percentage of
Votes Against

Name Change


Passed


99.60%


0.40%

 

The effective date of the name change will be the date of issuance of a certificate of amendment by the Registrar of Corporation in respect of the change of the Corporations name under the Alberta Business Corporations Act. 

Detailed voting results for all resolutions considered by shareholders at the Meeting will be contained in the Report of Voting Results, which will be filed on SEDAR under Painted Pony's profile at www.sedar.com

ABOUT PAINTED PONY

Painted Pony is a publicly-traded natural gas corporation based in Western Canada.  The Corporation is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.  Painted Pony's common shares trade on the TSX under the symbol "PPY". Following the name change of the Corporation, the Corporation intends to change its trading symbol on the TSX to "PONY". 

SOURCE Painted Pony Petroleum Ltd.

For further information: Patrick R. Ward, President and CEO, (403) 475-0440; John H. Van de Pol, Senior Vice President and CFO, (403) 475-0440; Jason Fleury, Director, Investor Relations, (403) 776-3261, info@paintedpony.ca, www.paintedpony.ca

RELATED LINKS
www.paintedpony.ca

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