Calgary, Alberta--(Newsfile Corp. - April 20, 2023) - 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 19, 2023 have been fully authorized and approved. A total of 124,181,618 common shares, representing 64.67% 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 % 122,756,982 99.99 16,444 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:

Outcome of the Vote Votes For % Withheld % Geraldine L. Greenall Elected 120,019,562 97.76 2,753,864 2.24 William C. Guinan Elected 121,258,383 98.77 1,515,043 1.23 Michael R. Shea Elected 116,562,483 94.94 6,210,943 5.06 Neil G. Sinclair Elected 121,429,228 98.91 1,344,198 1.09 Janet E. Vellutini Elected 121,184,606 98.71 1,588,820 1.29 David J. Wilson Elected 121,594,505 99.04 1,178,921 0.96

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 % 122,377,821 98.55 1,803,797 1.45

Amendment to Articles of the Corporation to Amend Preferred Shares

A special resolution to approve the amendment to the articles of the Corporation to amend the Preferred shares, was approved at the meeting by way of a ballot, as follows:



Votes For % Votes Against % 121,754,802 99.17 1,018,624 0.83

Amended and Restated By-laws of the Corporation

An ordinary resolution to adopt, ratify and confirm the amended and restated by-laws of the Corporation, was approved at the meeting by way of a ballot, as follows:

Votes For % Votes Against % 102,030,287 83.10 20,743,139 16.90

Contact Information

For further information please contact:

Kelt Exploration Ltd., Suite 300, 311-6th 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/163183