Epsilon Announces 2022 AGM Results

Rhea-AI Summary

Epsilon Energy Ltd. (NASDAQ: EPSN) announced the election of all nominees listed in its Proxy Statement during the annual shareholders meeting on August 24, 2022. The board will consist of eight directors, with the appointment of BDO USA, LLP as the auditor. Notably, John Lovoi and Jason Stabell received over 96% approval, while Matthew Dougherty had 55.82% support, indicating varied shareholder confidence. Epsilon continues to focus on natural gas production in the Marcellus Shale of Pennsylvania.

Positive

• All proposed nominees elected as directors.
• High approval rates for most nominees (e.g., Lovoi 97.63%, Stabell 96.97%).
• Appointment of BDO USA, LLP as auditor enhances financial oversight.

Negative

• Matthew Dougherty received only 55.82% approval, indicating potential shareholder concerns.

HOUSTON, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) is pleased to announce that all the nominees listed in its Proxy Statement, Schedule 14A dated on July 27, 2022 were elected as directors of Epsilon, until the next annual meeting of shareholders. The detailed results of the vote at the annual shareholders meeting held on Wednesday, August 24, 2022 are set out below.

At the meeting, the number of directors was set at eight, and BDO USA, LLP was appointed as auditor. Each of the following eight nominees proposed by management was elected as a director of Epsilon.

	Nominee		% For			% Withheld
	John Lovoi		97.63	%		2.37	%
	Jason Stabell		96.97	%		3.03	%
	Matthew Dougherty		55.82	%		44.18	%
	Jacob Roorda		74.21	%		25.79	%
	Tracy Stephens		73.13	%		26.87	%
	Stephen Finlayson		73.13	%		26.87	%
	David Winn		94.35	%		5.65	%
	Jason Stankowski		94.20	%		5.80	%

About Epsilon

Epsilon Energy Ltd. is a North American onshore natural gas production and midstream company with a current focus on the Marcellus Shale of Pennsylvania.

Contact Information:
281-670-0002

Jason Stabell
Chief Executive Officer
Jason.Stabell@EpsilonEnergyLTD.com

Andrew Williamson
Chief Financial Officer
Andrew.Williamson@EpsilonEnergyLTD.com

Special note for news distribution in the United States
The securities described in the news release have not been registered under the United Stated Securities Act of 1933, as amended, (the “1933 Act”) or state securities laws. Any holder of these securities, by purchasing such securities, agrees for the benefit of Epsilon Energy Ltd. (the “Corporation”) that such securities may not be offered, sold, or otherwise transferred only (A) to the Corporation or its affiliates; (B) outside the United States in accordance with applicable state laws and either (1) Rule 144(as) under the 1933 Act or (2) Rule 144 under the 1933 Act, if applicable.

FAQ

What was the outcome of the Epsilon Energy Ltd. annual shareholders meeting on August 24, 2022?

All nominees listed in the Proxy Statement were elected as directors.

Who was appointed as the auditor during Epsilon Energy's annual meeting?

BDO USA, LLP was appointed as the auditor.

How did the shareholders vote for John Lovoi at Epsilon Energy Ltd.?

John Lovoi received 97.63% approval from shareholders.

What percentage of votes did Matthew Dougherty receive during the meeting?

Matthew Dougherty received 55.82% approval.

What is the focus area of Epsilon Energy Ltd.?

Epsilon Energy focuses on natural gas production in the Marcellus Shale of Pennsylvania.