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Granite Oil Corp. Announces Results Of Shareholder Meeting

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CALGARY, Alberta, May 29, 2019 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO, OTCQX:GXOCF) is pleased to announce the results from its 2019 annual general and special meeting of shareholders held on May 29, 2019 in Calgary, Alberta (the "Meeting").  Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated April 24, 2019, a copy of which is available on the Company's SEDAR profile at www.sedar.com. The voting results for each of the matters voted on by the shareholders at the Meeting are provided below.

1. Fixing the Number of Directors

The shareholders passed a resolution fixing the number of directors to be elected at the Meeting at five. The vote in respect of this matter was carried out by ballot. The detailed results of voting are as follows.

# Votes For % Votes For # Votes Against % Votes Against
12,959,834 96.83 424,402 3.17

2. Election of Directors

All of the nominees named in the Company's Management Information Circular were elected as directors of the Company. The vote in respect of this matter was carried out by ballot. The detailed results of voting are as follows.

Nominee # Votes For % Votes For # Votes Withheld % Votes Withheld
Kevin Andrus 12,811,893 95.65 582,856 4.35
Brendan Carrigy 12,670,542 94.59 724,207 5.41
Martin Cheyne 12,449,900 92.95 944,849 7.05
Michael Kabanuk 12,670,604 94.59 724,145 5.41
Bradley Porter 12,822,242 95.73 572,507 4.27

3. Reappointment of Auditor

The shareholders approved the reappointment of KPMG LLP, Chartered Accountants, as the auditors of the Company to hold office until the close of the next annual meeting of shareholders of the Company, at a remuneration to be fixed by the directors. The vote in respect of this matter was carried out by ballot. The detailed results of voting are as follows.

# Votes For % Votes For # Votes Withheld % Votes Withheld
13,579,519 97.15 398,222 2.85

4. Approval of Stock Option Plan

The shareholders approved and adopted the stock option plan of the Company, a copy of which is included as Appendix "A" to the Management Information Circular prepared for the purposes of the Meeting. The vote in respect of this matter was carried out by ballot. The detailed results of voting are as follows.

# Votes For % Votes For # Votes Withheld % Votes Withheld
12,289,864 91.56 1,133,385 8.44

Contact Information

For further information, please contact Michael Kabanuk, President & CEO, by telephone at (587) 349-9123.

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