REG - PetroTal Corp. - Results of Shareholders’ Meeting

PetrotalAnnouncement

20/06/2025 07:00

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RNS Number : 6663N  PetroTal Corp.  20 June 2025

PetroTal Announces Voting Results of Shareholders' Meeting

 

Calgary, AB and Houston, TX - June 20, 2025 - PetroTal Corp. ("PetroTal" or
the "Company") (TSX: TAL, AIM: PTAL and OTCQX: PTALF) is pleased to announce
that all resolutions at the annual general meeting of shareholders held on
June 19, 2025 (the "Meeting"), have been fully authorized and approved. A
total of 403,104,944 common shares representing approximately 44.02% of
PetroTal's issued and outstanding common shares, were represented at the
Meeting.

The shareholders approved an ordinary resolution to fix the number of
directors of the Corporation at eight (8) members. The following nominees were
elected as directors of PetroTal, being the eight nominees listed in the
management information circular of the Company dated May 9, 2025, to hold
office until the next annual meeting of shareholders or until their successors
are duly elected or appointed, unless such office is vacated earlier in
accordance with PetroTal's by-laws. Results of the vote are as follows:

                               Votes For            Votes Withheld
 Director:                     #            %       #           %
 Manuel Pablo Zuniga-Pflucker  376,516,596  99.5%   1,886,557   0.50%
 Mark McComiskey               374,950,217  99.08%  3,462,919   0.92%
 Gavin Wilson                  360,362,192  95.23%  18,050,944  4.77%
 Eleanor J. Barker             376,823,508  99.58%  1,589,628   0.42%
 Jon Harris                    375,892,308  99.33%  2,520,828   0.67%
 Felipe Arbelaez-Hoyos         376,754,902  99.56%  1,658,234   0.44%
 Emily Morris                  376,754,904  99.57%  1,643,736   0.43%
 Denisse Abudinen              376,750,602  99.56%  1,648,038   0.44%

 

In addition, shareholders approved the appointment of Deloitte LLP as auditors
of the Company to hold office until the next annual meeting, and the directors
were authorized to fix their remuneration. The results of the vote were as
follows:

 Votes For            Votes Withheld
 #            %       #          %
 400,463,364  99.35%  2,626,784  0.65%

 

Lastly, shareholders approved a special resolution authorizing the directors
to consolidate the Common Shares of the Company on the basis of a ratio of
between five (5) and ten (10) pre-consolidation Common Shares for each one (1)
post-consolidation Common Share, as described in the Information Circular. The
results of the vote were as follows:

 Votes For            Votes Against
 #            %       #          %
 396,556,596  98.38%  6,533,550  1.62%

 

A full report on the voting results will be made available under PetroTal's
profile on SEDAR+ at www.sedarplus.ca (http://www.sedarplus.ca) .

ABOUT PETROTAL

PetroTal is a publicly traded, tri‐quoted (TSX: TAL, AIM: PTAL and OTCQX:
PTALF) oil and gas development and production Company domiciled in Calgary,
Alberta, focused on the development of oil assets in Peru. PetroTal's flagship
asset is its 100% working interest in the Bretaña Norte oil field in Peru's
Block 95, where oil production was initiated in June 2018. In early 2022,
PetroTal became the largest crude oil producer in Peru. The Company's
management team has significant experience in developing and exploring for oil
in Peru and is led by a Board of Directors that is focused on safely and cost
effectively developing its portfolio of assets. It is actively building new
initiatives to champion community sensitive energy production, benefiting all
stakeholders. For further information, please see the Company's website at
www.petrotal-corp.com (http://www.petrotal-corp.com) , the Company's filed
documents at www.sedarplus.ca (https://www.sedarplus.ca/landingpage/) , or
below:

 

Camilo McAllister

Executive Vice President and Chief Financial Officer

Cmcallister@PetroTal-Corp.com

T: (713) 253-4997

 

Manolo Zuniga

President and Chief Executive Officer

Mzuniga@PetroTal-Corp.com

T: (713) 609-9101

 

PetroTal Investor Relations

InvestorRelations@PetroTal-Corp.com

 

Celicourt Communications

Mark Antelme / Jimmy Lea

petrotal@celicourt.uk

T : +44 (0) 20 7770 6424

 

Strand Hanson Limited (Nominated & Financial Adviser)

Ritchie Balmer / James Spinney / Robert Collins

T: +44 (0) 207 409 3494

 

Stifel Nicolaus Europe Limited (Joint Broker)

Callum Stewart / Simon Mensley / Ashton Clanfield

T: +44 (0) 20 7710 7600

 

Peel Hunt LLP (Joint Broker)
Richard Crichton / Georgia Langoulant
T: +44 (0) 20 7418 8900

 

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release contains certain statements
that may be deemed to be forward-looking statements. All statements other than
statements of historical fact may be forward-looking statements.
Forward-looking statements are often, but not always, identified by the use of
words such as "anticipate", "believe", "expect", "plan", "estimate",
"potential", "will", "should", "continue", "may", "objective", "intend" and
similar expressions. The forward-looking statements provided in this press
release are based on management's current belief, based on currently available
information, as to the outcome and timing of future events. PetroTal cautions
that forward-looking statements relating to PetroTal are subject to all of the
risks, uncertainties and other factors, which may cause the actual results,
performance, capital expenditures or achievements of the Company to differ
materially from anticipated future results, performance, capital expenditures
or achievement expressed or implied by such forward-looking statements,
including the Company's intentions regarding the NCIB and its ability to
achieve related anticipated benefits. Factors that could cause actual results
to differ materially from those set forth in the forward-looking statements
include, but are not limited to, business performance, legal and legislative
developments including changes in tax laws and legislation affecting the oil
and gas industry, credit ratings and risks, fluctuations in interest rates and
currency values, changes in the financial landscape both domestically and
abroad, including volatility in the stock market and financial system, wars
(including Russia's war in Ukraine and the Israeli-Hamas conflict), regulatory
developments, commodity price volatility, price differentials and the actual
prices received for products, exchange rate fluctuations, legal, political and
economic instability in Peru, access to transportation routes and markets for
the Company's production, changes in legislation affecting the oil and gas
industry, changes in the financial landscape both domestically and abroad
(including volatility in the stock market and financial system) and the
occurrence of weather-related and other natural catastrophes. Readers are
cautioned that the foregoing list of factors is not exhaustive. Please refer
to the annual information form for the year ended December 31, 2024 and the
management's discussion and analysis for the three months ended March 31, 2025
for additional risk factors relating to PetroTal, which can be accessed either
on PetroTal's website at www.petrotal-corp.com or under the Company's profile
on www.sedarplus.ca. The forward-looking statements contained in this press
release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.

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