CALGARY, July 10, 2020 - Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) is pleased to announce that at the annual general and special meeting held in Bogot?, Colombia on July 10, 2020 (the "Meeting") holders of common shares of Canacol: (i) re-elected Charle Gamba, Michael Hibberd, David Winter, Gregory D. Elliot, Francisco Diaz, Oswaldo Cisneros, Gonzalo Fern?ndez-Tinoco and Ariel Merenstein to the Board of Directors; (ii) appointed KPMG LLP, as Canacol's auditors; and (iii) approved the amended stock option plan of the Corporation and the unallocated stock options thereunder.
The detailed results of the vote for the election of directors held at the Meeting are set out below:
| Nominee | Votes For | % For | Votes Withheld | % Withheld |
| Charle Gamba | 91,523,771 | 98.67 | % | 1,235,240 | 1.33 | % |
| Michael Hibberd | 89,073,888 | 96.03 | % | 3,685,123 | 3.97 | % |
| David Winter | 85,335,570 | 92.00 | % | 7,423,441 | 8.00 | % |
| Gregory D. Elliot | 90,969,065 | 98.07 | % | 1,789,946 | 1.93 | % |
| Francisco Diaz | 89,588,954 | 96.58 | % | 3,170,057 | 3.42 | % |
| Oswaldo Cisneros | 90,934,636 | 98.03 | % | 1,824,375 | 1.97 | % |
| Gonzalo Fern?ndez-Tinoco | 81,263,568 | 87.61 | % | 11,495,443 | 12.39 | % |
| Ariel Merenstein | 91,950,081 | 99.13 | % | 808,930 | 0.87 | % |
Further disclosure on the matters approved at the Meeting can be found in the Management Information Circular dated May 21, 2020 and the Report of Voting Results for the Meeting each available on SEDAR at www.sedar.com.
About Canacol
Canacol is a gas exploration and production company with operations focused in Colombia. The Corporation's common shares trade on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbol CNE, CNNEF, and CNE.C, respectively.
Contact Investor Relations: IR@canacolenergy.com Ph: +57 (1) 621 1747 Ph: +(1) 403-561-1648 Website: canacolenergy.com
