Gran Tierra Energy Announces Results of Semi-Annual Credit Facility Redetermination and Final Voting Results of its Annual Meeting of Stockholders

Rhea-AI Summary

Gran Tierra Energy has confirmed the results of its semi-annual credit facility redetermination, maintaining the existing terms with no changes. Additionally, at the annual stockholders meeting, all eight nominated directors were elected. Key votes included a 96.5% approval for the appointment of KPMG LLP as the independent auditor and a 86.8% approval for executive compensation. The Company continues to focus on oil and natural gas exploration in Colombia and Ecuador, with further growth opportunities being pursued. Next credit facility redetermination is scheduled for November 2021.

Positive

• Credit facility confirmed with no changes, offering stability.
• All eight nominated directors elected, suggesting shareholder confidence.
• High approval rate (96.5%) for KPMG as independent auditor.
• Executive compensation approved by 86.8%, indicating strong management support.

Negative

• None.

CALGARY, Alberta, June 03, 2021 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) today announced the results of the Company’s semi-annual credit facility redetermination and the voting results from its annual meeting of stockholders held on June 2, 2021.

Results of Semi-Annual Credit Facility Redetermination: The semi-annual redetermination of Gran Tierra’s bank-syndicated revolving credit facility has been completed, and the syndicate of lenders party to the facility has agreed to confirm the facility with no changes. The next redetermination is scheduled for November 2021.

Final Voting Results of Gran Tierra’s Annual Meeting of Stockholders: Stockholders elected all eight individuals nominated by Gran Tierra. In addition, stockholders voted “FOR” the ratification of the appointment of KPMG LLP as Gran Tierra’s independent registered public accounting firm for the fiscal year ending December 31, 2021, “FOR” the approval, on an advisory basis, of the compensation of Gran Tierra’s named executive officers, and “FOR” the approval of the 2007 Equity Incentive Plan, as amended. The detailed results of the vote are as follows:

Proposal 1
Election of Directors	For	%	Against	%	Abstain	Non Votes
Gary S. Guidry	108,336,328	92.6%	8,670,150	7.4%	14,281,873	66,720,244
Peter Dey	108,030,207	93.5%	7,529,037	6.5%	15,729,107	66,720,244
Evan Hazell	110,127,583	95.1%	5,646,499	4.9%	15,514,269	66,720,244
Robert B. Hodgins	108,810,542	93.9%	7,084,199	6.1%	15,393,610	66,720,244
Ronald Royal	110,309,757	95.1%	5,651,042	4.9%	15,327,552	66,720,244
Sondra Scott	121,005,573	94.2%	7,418,539	5.8%	2,864,239	66,720,244
David P. Smith	110,452,322	95.3%	5,401,104	4.7%	15,434,925	66,720,244
Brooke Wade	108,887,133	94.0%	6,979,170	6.0%	15,422,048	66,720,244
Proposal 2	For	%	Against	%	Abstain	Non Votes
Ratification of Appointment of the Independent Registered Public Accounting Firm	189,164,308	96.5%	6,915,808	3.5%	1,928,479	0
Proposal 3	For	%	Against	%	Abstain	Non Votes
Approval of Named Executive Officer Compensation	112,446,847	86.8%	17,087,380	13.2%	1,754,124	66,720,244
Proposal 4	For		Against		Abstain	Non Votes
Approval of 2007 Equity Incentive Plan, as amended	102,994,885	79.3%	26,931,958	20.7%	1,361,508	66,720,244

About Gran Tierra Energy Inc.

Gran Tierra Energy Inc. together with its subsidiaries is an independent international energy company currently focused on oil and natural gas exploration and production in Colombia and Ecuador. The Company is currently developing its existing portfolio of assets in Colombia and Ecuador and will continue to pursue additional growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Information on the Company’s website (including the Sustainability Report) does not constitute a part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s Securities and Exchange Commission filings are available on the SEC website at http://www.sec.gov and on SEDAR at http://www.sedar.com and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Contact Information

For investor and media inquiries please contact:

Gary Guidry, Chief Executive Officer

Ryan Ellson, Executive Vice President & Chief Financial Officer

Rodger Trimble, Vice President, Investor Relations

+1-403-265-3221

info@grantierra.com

FAQ

What were the results of Gran Tierra Energy's credit facility redetermination?

Gran Tierra Energy confirmed its credit facility with no changes during the semi-annual redetermination.

Who were elected as directors at Gran Tierra Energy's annual meeting on June 2, 2021?

All eight nominated individuals were elected as directors at Gran Tierra Energy's annual meeting.

What percentage approved the appointment of KPMG at Gran Tierra's annual meeting?

96.5% of stockholders approved the appointment of KPMG as the independent auditor.

What was the approval rate for executive compensation at Gran Tierra Energy?

The executive compensation was approved by 86.8% of the voting stockholders.

When is the next credit facility redetermination for Gran Tierra Energy?

The next credit facility redetermination is scheduled for November 2021.