Canada Markets open in 8 hrs 4 mins

Questerre reports voting results of Shareholders’ Meeting

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA
TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

CALGARY, Alberta, June 21, 2019 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported that all matters presented for approval at its annual and special meeting of shareholders held on June 18, 2019 (the “Meeting”) have been approved.

At the Meeting, by vote by way of a show of hands, an ordinary resolution to fix the number of directors to be elected at the Meeting at six (6), was approved.

In addition, each of the six nominees proposed as directors listed in the Company’s Management Information Circular dated May 14, 2019 (the “Circular”) were elected as directors to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed, unless their office is earlier vacated in accordance with the By-Laws of the Company.  The detailed results of the vote conducted by ballot are set out below:

Nominees Votes For Votes Withheld
Michael Binnion 79,834,739 (99.93%) 57,692 (0.07%)
Earl Hickok 79,799,639 (99.88%) 92,792 (0.12%)
Hans Jacob Holden 79,809,639 (99.90%) 82,792 (0.09%)
Alain Sans Cartier 79,801,939 (99.89%) 90,492 (0.11%)
Dennis Sykora 79,830,739 (99.92%) 61,692 (0.08%)
Bjorn Tonnessen 79,800,639 (99.89%) 91,792 (0.11%)

By vote by way of a show of hands, the ordinary resolution to approve the appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the auditors of the Company to hold office until the next annual meeting of shareholders or until their successors are appointed and authorizing the directors of the Company to fix their remuneration, was approved.

By vote by way of a show of hands, the ordinary resolution to amend and approve the Shareholder Rights Plan agreement of the Company was approved.  Details in respect of all of the resolutions approved at the annual and special meeting of shareholders of the Company be found in the Circular which is available under the Company’s profile on SEDAR at www.sedar.com.

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs.  The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan.  It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is pursuing oil shale projects with the aim of commercially developing these significant resources.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society.  We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

For further information, please contact:

Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) | Email: info@questerre.com