Kelt Announces Results of Shareholders' Meeting

Calgary, Alberta--(Newsfile Corp. - April 21, 2022) - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to announce that all matters presented for approval at the Annual and Special Meeting of Shareholders held on April 20, 2022 have been fully authorized and approved. A total of 114,149,022 common shares, representing 59.68% of the common shares issued and outstanding, were represented in person or by proxy at the meeting. A brief description of the matters voted upon and the outcome of the votes is set forth below.

Fixing Number of Directors

The ordinary resolution to approve fixing the number of directors to be elected at the meeting at six (6) was approved at the meeting by way of a ballot, as follows:

Votes For	%	Votes Against	%
113,054,617	99.99	3,633	0.01

Election of Directors

All of the nominees proposed as directors of the Company were duly elected as directors of the Company with votes cast by the shareholders present in person or represented by proxy at the meeting by way of a ballot, as follows:

Geraldine L. Greenall	Elected	111,566,001	98.68	1,492,249		1.32
William C. Guinan	Elected	112,633,703	99.62	424,547		0.38
Michael R. Shea	Elected	107,294,846	94.90	5,763,404		5.10
Neil G. Sinclair	Elected	111,861,729	98.94	1,196,521		1.06
Janet E. Vellutini	Elected	112,035,217	99.10	1,023,033		0.90
David J. Wilson	Elected	104,977,811	99.62	396,847		0.38

Appointment of Auditor

An ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, as the auditors of the Company, was approved at the meeting by way of a ballot, as follows:

Votes For	%	Withheld	%
112,359,983	98.43	1,789,039	1.57%

Stock Option Plan

An ordinary resolution to approve the unallocated entitlements under the stock option plan of the Corporation, was approved at the meeting by way of a ballot, as follows:

Votes For	%	Withheld	%
111,949,677	99.02	1,108,573	0.98

Restricted Share Unit Plan

An ordinary resolution to approve the unallocated entitlements under the restricted share unit plan of the Corporation, was approved at the meeting by way of a ballot, as follows:

Votes For	%	Withheld	%
96,681,896	85.52	16,376,354	14.48

Contact Information

For further information please contact:

Kelt Exploration Ltd., Suite 300, 311-6^th Avenue SW, Calgary, Alberta, Canada T2P 3H2.
David Wilson, President and Chief Executive Officer (403) 201-5340, or
Sadiq Lalani, Vice President and Chief Financial Officer (403) 215-5310.
Or visit our website at www.keltexploration.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121236