Kelt Announces Results of Shareholders' Meeting
CALGARY, April 26, 2019 - 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 25, 2019 have been fully authorized and approved. A total of 130,402,279 common shares, representing 70.87% of the common shares, 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
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 six (6), was approved. Votes cast both in-person and by proxy were as follows:
| Votes For | % | Against | % |
| 122,400,335 | 97.57 | 3,050,108 | 2.43 |
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 | % | |
| Robert J. Dales | Elected | 101,880,557 | 81.21 | 23,569,886 | 18.79 |
| Geraldine L. Greenall | Elected | 124,753,821 | 99.44 | 696,622 | 0.56 |
| William C. Guinan | Elected | 124,106,695 | 98.93 | 1,343,748 | 1.07 |
| Michael R. Shea | Elected | 121,493,968 | 96.85 | 3,956,475 | 3.15 |
| Neil G. Sinclair | Elected | 115,654,200 | 92.19 | 9,796,243 | 7.81 |
| David J. Wilson | Elected | 125,432,864 | 99.99 | 17,579 | 0.01 |
Appointment of Auditor
By vote by way of a ballot, an ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, as the auditors of the Company, was approved, with proxies and in-person votes received as follows:
| Votes For | % | Withheld | % |
| 116,174,258 | 91.48 | 10,815,784 | 8.52 |
Approval of Unallocated Options Under Stock Option Plan
By vote by way of a ballot, an ordinary resolution to approve the unallocated options under the stock option plan of the Company was approved, with proxies and in-person votes received as follows:
| Votes For | % | Against | % |
| 104,541,017 | 83.33 | 20,909,426 | 16.67 |
Approval of Unallocated Entitlements Under Restricted Share Unit Plan
By vote by way of a ballot, an ordinary resolution to approve the unallocated entitlements under the restricted share unit plan of the Company was approved, with proxies and in-person votes received as follows:
| Votes For | % | Against | % |
| 80,772,088 | 64.39 | 44,678,355 | 35.61 |
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 northwestern 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, or
Sadiq H. Lalani, Vice President and Chief Financial Officer (403) 215-5310.
Or visit our website at www.keltexploration.com.
