Algoma Central Corporation Announces Results of Annual General and Special Meeting of Shareholders

Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, held its Annual General and Special Meeting of Shareholders (“the Meeting”) on May 4, 2018. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company’s Management Proxy Circular dated February 22, 2018, available online at www.algonet.com.

1. Election of Directors

All of the nominees listed in the Management Proxy Circular were elected as directors until the next annual general meeting of shareholders with the support of 86.55% of shares voted.

2. Appointment of Auditors

Professional accounting firm Deloitte LLP was appointed as independent auditors of the Company.

3. Approval of the Company’s Stock Option Plan

The adoption of the Stock Option plan will be granted to certain officers and employees of the Company.

About Algoma Central

Algoma Central Corporation is a publicly traded company which operates the largest fleet of dry and liquid bulk carriers on the Great Lakes - St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry bulk carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets. Algoma has expanded into international short-sea markets through it 50% interests in NovaAlgoma Cement Carriers and NovaAlgoma Short-Sea Carriers. Algoma Central trades on the Toronto Stock Exchange under the symbol “ALC”. For more information, please visit www.algonet.com.

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Algoma Central Corporation
Ken Bloch Soerensen
President and CEO
+1 905-687-7885
or
Peter D. Winkley, CPA, CA
Chief Financial Officer
+1 905-687-7897