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Pipestone Energy Corp. Announces Results of Shareholder Meeting Including Approval of the Preferred Share Financing

CALGARY, Alberta, Sept. 14, 2020 (GLOBE NEWSWIRE) -- (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) announces that at the annual and special meeting of the shareholders of Pipestone Energy (the “Shareholders”) held today at 2:30 p.m. (Calgary time) in the McMurray Room at the Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta, the Shareholders approved each of the amended and restated by-laws, the long-term incentive plan, and employee share purchase plan of the Company. Additionally, the Shareholders approved the proposed preferred share financing (the “Financing”) for expected proceeds to Pipestone Energy of approximately $67 million, net of anticipated transaction costs. The Financing is expected to close September 15, 2020.

Each of the incumbent directors of Pipestone Energy, Gordon M. Ritchie, Garth Braun, William Lancaster, John Rossall, Geeta Sankappanavar, Robert Tichio and Paul Wanklyn were re-elected by the Shareholders present in person or by proxy. The detailed results of the votes are set out below:

DirectorVotes for %Votes withheld %
   
Gordon M. Ritchie99.93%0.07%
Garth Braun99.89%0.11%
William Lancaster99.96%0.04%
John Rossall99.91%0.09%
Geeta Sankappanavar99.94%0.06%
Robert Tichio99.91%0.09%
Paul Wanklyn99.94%0.06%

Pipestone Energy Corp.

Pipestone Energy Corp. is an oil and gas exploration and production company with its head office located in Calgary, Alberta. The company is focused on developing its pure-play condensate-rich Montney asset in the Pipestone area near Grande Prairie. Pipestone Energy is committed to building long term value for our shareholders and values the partnerships that it is developing within its operating community. Pipestone Energy shares trade under the symbol PIPE on the TSX Venture Exchange. For more information, visit www.pipestonecorp.com.

Pipestone Energy Contacts:

Paul Wanklyn
President and Chief Executive Officer
(587) 392-8407
paul.wanklyn@pipestonecorp.com
Craig Nieboer
Chief Financial Officer
(587) 392-8408
craig.nieboer@pipestonecorp.com
 
Dan van Kessel
VP Corporate Development
(587) 392-8414
dan.vankessel@pipestonecorp.com
 

TSX Venture Exchange Disclaimer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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