Painted Pony Announces Results from 2017 Annual General and Special Meeting of Shareholders

CALGARY, May 12, 2017 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce the results from the 2017 Annual General and Special Meeting of Shareholders held on May 11, 2017 (the "Meeting"). 

Proposed Acquisition of UGR Blair Creek Ltd.

Shareholders approved the issuance of 41,000,000 common shares of Painted Pony to Unconventional Resources Canada, LP (the "Vendor") as total consideration for the purchase of all of the shares of UGR Blair Creek Ltd. from Vendor by Painted Pony (the "Share Issuance"). The results of the voting on the Share Issuance is set forth below.

Resolution			Outcome of Vote		Percentage of Votes For		Percentage of Votes Against
Share Issuance			Passed		74.47%		25.53%

The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the shares to be issued to the Vendor, subject to the Corporation fulfilling all of the requirements of the TSX.

Election of Directors

Shareholders elected each of the nominees proposed by management as set forth in the information circular of the Corporation dated March 30, 2017.  The results of the voting on the election of directors is set forth below.

Director Nominee		Outcome of Vote		Percentage of Votes For		Percentage of Votes Withheld
Kevin D. Angus		Passed		92.17%		7.83%
Glenn R. Carley		Passed		92.17%		7.93%
David W. Cornhill		Passed		83.26%		16.74%
Joan E. Dunne		Passed		92.29%		7.71%
Nereus L. Joubert		Passed		92.15%		7.85%
Lynn Kis		Passed		92.17%		7.81%
Arthur J. G. Madden		Passed		92.16%		7.84%
Patrick R. Ward		Passed		92.26%		7.74%
Peter A. Williams		Passed		92.20%		7.80%

Each of the directors elected at the Meeting will hold office until the close of the next annual meeting of shareholders of the Corporation or until his or her successor is duly elected or appointed pursuant to the by-laws of the Corporation. 

Name Change to Painted Pony Energy Ltd.

Shareholders approved the amendment to the Articles of the Corporation to change the name of the Corporation from Painted Pony Petroleum Ltd. to Painted Pony Energy Ltd. (the "Name Change"). The results of the voting on the Name Change is set forth below.

Resolution		Outcome of Vote		Percentage of Votes For		Percentage of Votes Against
Name Change		Passed		99.60%		0.40%

The effective date of the name change will be the date of issuance of a certificate of amendment by the Registrar of Corporation in respect of the change of the Corporations name under the Alberta Business Corporations Act. 

Detailed voting results for all resolutions considered by shareholders at the Meeting will be contained in the Report of Voting Results, which will be filed on SEDAR under Painted Pony's profile at www.sedar.com. 

ABOUT PAINTED PONY

Painted Pony is a publicly-traded natural gas corporation based in Western Canada.  The Corporation is primarily focused on the development of natural gas and natural gas liquids from the Montney formation in northeast British Columbia.  Painted Pony's common shares trade on the TSX under the symbol "PPY". Following the name change of the Corporation, the Corporation intends to change its trading symbol on the TSX to "PONY". 

SOURCE Painted Pony Petroleum Ltd.

Patrick R. Ward, President and CEO, [phone]; John H. Van de Pol, Senior Vice President and CFO, [phone]; Jason Fleury, Director, Investor Relations, [phone], [email protected], www.paintedpony.ca

Related Links

www.paintedpony.ca