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Investor Relations

Laurence Broos
VP Finance
(403) 727 2021


SEDAR


Press Releases

Cardinal Energy Ltd. report on voting from the 2018 shareholders meeting

May 17, 2018

Calgary, Alberta - (May 17, 2018) (TSX - CJ) Cardinal Energy Ltd. ("Cardinal" or the "Company") announces that all matters presented for approval at the annual and special meeting of the shareholders of Cardinal held today have been fully authorized and approved. A total of 41,740,097 votes representing 36.60% of the total votes entitled to vote at the meeting, were voted in connection with the matters considered at the meeting.

By ordinary resolution passed via ballot, the number of directors to be elected at the meeting was fixed at five members. The results of the ballot were as follows:

Votes For   Percent (%)   Votes Withheld   Percent (%)

40,017,763

 

99.33

 

270,637

 

0.67


 

By ordinary resolution passed via ballot, all of the nominees proposed as directors were duly elected as directors of Cardinal to serve until the next annual meeting or until their successors are duly appointed or elected. The results of the ballot were as follows:

Name of Nominee Votes For Percent (%) Votes Withheld Percent (%)

M. Scott Ratushny
John A. Brussa
David D. Johnson
Stephanie Sterling
Gregory T. Tisdale

35,013,816
32,264,807
39,982,593
39,811,151
39,795,519

86.91
80.08
99.24
98.82
98.78

5,274,584
8,023,593
305,807
477,249
492,881

13.09
19.92
0.76
1.18
1.22

By ordinary resolution passed via ballot, KPMG LLP, Chartered Professional Accountants, were appointed as auditors of the Company until the next annual meeting or until their successors are duly appointed, and the directors were authorized to fix their remuneration. The results of the ballot were as follows:

Votes For   Percent (%)   Votes Withheld   Percent (%)

41,545,537

 

99.55

 

187,143

 

0.45


 

By non-binding advisory resolution concerning Cardinal's approach to executive compensation was approved. The results of the ballot were as follows:

Votes For   Percent (%)   Votes Withheld   Percent (%)

36,978,658

 

91.78

 

3,309,742

 

8.22


 

By ordinary resolution passed via ballot, the amendments to Cardinal's restricted bonus award incentive plan were approved. The results of the ballot were as follows:

Votes For   Percent (%)   Votes Withheld   Percent (%)

23,994,009

 

59.56

 

16,294,391

 

40.44


 

About Cardinal Energy Ltd.

Cardinal is a junior Canadian oil focused company built to provide investors with a stable platform for dividend income and growth. Cardinal operates low decline oil properties in Alberta and Saskatchewan.

For further information: M. Scott Ratushny, CEO or Laurence Broos, VP Finance, Cardinal Energy Ltd., 600, 400 – 3rd Avenue SW, Calgary, AB T2P 4H2, Main Phone: (403) 234-8681 Website: www.cardinalenergy.ca


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