VANCOUVER, British Columbia, June 22, 2017 (GLOBE NEWSWIRE) -- Pursuant to Section 11.3 of National Instrument 51-102, the following matters were put to vote at the Annual and Special Meeting of Shoal Point Energy Ltd. (the "Issuer") (CSE:SHP) held on June 22, 2017.

The report on the voting results is as follows:

1. Number of Directors

By vote of proxy and in person (For:  200,364,618 Shares, Against: 2,425,234) the number of directors was set at three.

2. Election of Directors

By vote of proxy and in person, the following persons were elected as directors of the Issuer until their term of office expires:

3. Appointment and Remuneration of Auditors

By vote of proxy (For: 207,656,647 Shares, Withheld: 3,379,234 Shares), Dale Matheson Carr-Hilton Labonte LLP was appointed as auditor of the Issuer for the ensuing year and the directors are authorized to set the remuneration.

4. Financial Statements

By vote of proxy (For 200,457,618 Shares, Against 2,332,234 Shares), the financial statements of the Company, together with the auditors' report thereon, for the fiscal year ended January 31, 2017 were received and approved.

5. Adopt Special Resolution

By vote of proxy (For 177,927,605 Shares, Against 33,108,276 Shares) a special resolution authorizing the Board to consolidate the issued and outstanding securities of the company on an up to 100:1 basis.

6. Stock Option Plan Approval

By vote of proxy (For 196,140,618 Shares, Against 6,649,234 Shares) the stock option plan was approved as described in the Company's Management Information Circular.

"We want to thank shareholders for their support," said Mr. Jarvis.  "Adoption of the special resolution will give the Board the flexibility we need to respond to the financing needs of the Company during what we think will be a very interesting year."

The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.

For further information, contact Mark Jarvis at 416 637 2181, extension 310.