Canacol Energy Ltd. Announces Meeting Results

Rhea-AI Summary

Canacol Energy Ltd. announced the results of its annual general and special meeting held on June 28, 2021, in Bogotá, Colombia. Shareholders re-elected the Board of Directors, including Charle Gamba and Michael Hibberd, and appointed KPMG LLP as auditors. The long-term incentive plan was approved. Notably, Charle Gamba received 98.35% votes in favor, while other nominees secured over 90% approval, reflecting strong shareholder confidence. Full voting results are available in the Management Information Circular and Report of Voting Results on SEDAR.

Positive

• Strong shareholder support for Board re-election, with Charle Gamba receiving 98.35% approval.
• Appointment of KPMG LLP as auditors indicates a stable financial oversight.

Negative

• None.

CALGARY, Alberta, June 29, 2021 (GLOBE NEWSWIRE) -- 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 Bogotá, Colombia‎ on June 28, 2021 (the "Meeting") holders of common shares of Canacol: (i) re-elected Charle Gamba, Michael Hibberd, David Winter, Gregory D. Elliot, Francisco Diaz, Juan Argento, Gonzalo Fernández-Tinoco and Ariel Merenstein to the Board of Directors; (ii) appointed KPMG LLP, as Canacol's auditors; and (iii) approved the long term incentive plan of the Corporation and the grants 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		88,053,210		98.35%		1,481,223		1.65%
Michael Hibberd		85,752,796		95.78%		3,781,637		4.22%
David Winter		83,713,534		93.50%		5,820,899		6.50%
Gregory D. Elliot		86,320,500		95.81%		3,776,040		4.19%
Francisco Diaz		85,750,133		95.77%		3,784,300		4.23%
Juan Argento		84,355,025		94.22%		5,179,408		5.78%
Gonzalo Fernández-Tinoco		76,662,573		85.62%		12,871,860		14.38%
Ariel Merenstein ‎		88,836,923		99.22%		697,510		0.78%

Further disclosure on the matters approved at the Meeting can be found in the Management Information Circular dated May 12, 2021 and the Report of Voting Results for the Meeting each available on SEDAR at www.sedar.com.

About Canacol

Canacol is a natural gas exploration and production company with operations focused on Colombia. The Corporation's common stock trades 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.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Corporation's properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.

FAQ

What were the results of Canacol Energy's annual meeting on June 28, 2021?

At the annual meeting, shareholders re-elected the Board of Directors, appointed KPMG LLP as auditors, and approved the long-term incentive plan.

Who was re-elected to Canacol Energy's Board of Directors?

Charle Gamba, Michael Hibberd, David Winter, Gregory D. Elliot, Francisco Diaz, Juan Argento, Gonzalo Fernández-Tinoco, and Ariel Merenstein were re-elected.

What percentage of votes did Charle Gamba receive in the Canacol Energy meeting?

Charle Gamba received 98.35% of the votes in favor during the meeting.

Which firm was appointed as auditors for Canacol Energy?

KPMG LLP was appointed as auditors at the annual meeting.

Where can I find the detailed results of Canacol Energy's meeting?

Detailed results can be found in the Management Information Circular and the Report of Voting Results available on SEDAR.