REG - Arrow Exploration - AGM Voting Results

Arrow ExplorationAnnouncement

20/07/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220720:nRST0948Ta&default-theme=true

RNS Number : 0948T  Arrow Exploration Corp.  20 July 2022

NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION.

ARROW ANNOUNCES AGM VOTING RESULTS

CALGARY, July 20, 2022 - Arrow Exploration Corp. (AIM: AXL; TSXV: AXL)
("Arrow" or the "Company") is pleased to announce its AGM voting results.

Report in Respect of Voting Results Pursuant to Section 11.3 of National
Instrument 51-102 - Continuous Disclosure Obligations

The following sets forth a brief description of each matter voted upon at the
annual general meeting (the "Meeting") of the holders of common shares of
Arrow held on July 19, 2022 and the outcome of the vote:

 Description of Matter                                                            Outcome of Vote     Votes For     Votes Against or Withheld
 1.    Number of Directors                                                        Approved            74,733,043    337,692

 To set the number of directors at six (6).

                                                                                                      99.55 %       0.45 %
 2.    Election of Directors                                                      Approved            74,775,832    294,903

 Marshall Abbott                                                                                      99.61 %       0.39 %
 Grant M. Carnie                                                                  Approved            75,049,095    21,640

                                                                                                      99.97 %       0.03 %
 Gage Jull                                                                        Approved            74,761,800    308,935

                                                                                                      99.59 %       0.14 %
 Maria Charash Koundina                                                           Approved            75,009,896    60,839

                                                                                                      99.92 %       0.08 %
 Ravi Sharma                                                                      Approved            74,735,814    334,921

                                                                                                      99.55 %       0.45 %
 Anthony Zaidi                                                                    Approved            74,773,708    297,027

                                                                                                      99.60 %       0.40 %
 3.    Appointment of Auditors                                                    Approved            75,066,341    4,394

 Appointment of Deloitte LLP as Auditors of the Corporation for the ensuing
 year and authorizing the Directors to fix their remuneration.

                                                                                                      99.99 %       0.01%
 4.    Approval and Amendment of Option Plan                                      Approved            74,427,732    643,003

 To re-approve the Corporation's stock option plan and to approve certain
 amendments thereto as more particularly set out in the Information

 Circular and Proxy Statement (collectively, the "Circular") of the Corporation

 dated June 6, 2022.                                                                                  99.14 %       0.86%
 5.    Approval of Canacol Resolution                                             Approved            74,976,618    94, 117

 To ratify, confirm and approve: (i) the issuance to Canacol Energy Ltd. of
 certain common shares and common share purchase warrants of the

                                                                                                    99.87%        0.13%
 Corporation; and (ii) the creation of Canacol as a "control person" for the

 purposes of the rules of the TSX Venture Exchange as more particularly

 set out in Circular.                                                             Excluding Canacol   38,715,205    94,117

                                                                                  Shares

                                                                                                      95.72 %       4.28%
 6.    Approval of Option Grants                                                  Approved            74, 669, 298  401,437

 To approve the grant of 1,000,000 options to each of Mr. Grant M. Carnie and
 Ms. Maria Charash Koundina

                                                                                                      99.47%        0.53%

 

 

For further Information, contact:

 Arrow Exploration
 Marshall Abbott, CEO                                                                   +1 403 651 5995
 Joe McFarlane, CFO                                                                     +1 403 818 1033

 Brookline Public Relations, Inc.

 Shauna MacDonald                                                                       +1 403 538 5645

 Canaccord Genuity (Nominated Advisor and Joint Broker)
 Henry Fitzgerald-O'Connor                                                              +44 (0)20 7523 8000

 James Asensio

 Gordon Hamilton

 Auctus Advisors (Joint Broker)
 Jonathan Wright (Corporate)                                                            +44 (0)7711 627449
 Rupert Holdsworth Hunt (Broking)

 Camarco (Financial PR)
 James Crothers                                                                         +44 (0)20 3781 8331
 Rebecca Waterworth
 Billy Clegg

About Arrow Exploration Corp.

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned
subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio
of premier Colombian oil assets that are underexploited, under-explored and
offer high potential growth. The Company's business plan is to expand oil
production from some of Colombia's most active basins, including the Llanos,
Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is
predominantly operated with high working interests, and the Brent-linked light
oil pricing exposure combines with low royalties to yield attractive potential
operating margins. Arrow's 50% interest in the Tapir Block is contingent on
the assignment by Ecopetrol SA of such interest to Arrow. Arrow's seasoned
team is led by a hands-on executive team supported by an experienced board.
Arrow is listed on the AIM market of the London Stock Exchange and on TSX
Venture Exchange under the symbol "AXL".

Forward-looking Statements

This news release contains certain statements or disclosures relating to Arrow
that are based on the expectations of its management as well as assumptions
made by and information currently available to Arrow which may constitute
forward-looking statements or information ("forward-looking statements") under
applicable securities laws. All such statements and disclosures, other than
those of historical fact, which address activities, events, outcomes, results
or developments that Arrow anticipates or expects may, could or will occur in
the future (in whole or in part) should be considered forward-looking
statements. In some cases, forward-looking statements can be identified by the
use of the words "continue", "expect", "opportunity", "plan", "potential" and
"will" and similar expressions. The forward-looking statements contained in
this news release reflect several material factors and expectations and
assumptions of Arrow, including without limitation, Arrow's evaluation of the
impacts of COVID-19, the potential of Arrow's Colombian and/or Canadian assets
(or any of them individually), the ability to complete exploration and
development work as expected, the prices of oil and/or natural gas, and
Arrow's business plan to expand oil and gas production and achieve attractive
potential operating margins. Arrow believes the expectations and assumptions
reflected in the forward-looking statements are reasonable at this time, but
no assurance can be given that these factors, expectations, and assumptions
will prove to be correct.

The forward-looking statements included in this news release are not
guarantees of future performance and should not be unduly relied upon. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially
from those anticipated in such forward-looking statements. The forward-looking
statements contained in this news release are made as of the date hereof and
the Company undertakes no obligations to update publicly or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless so required by applicable securities laws.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGEBLBLLDLZBBZ