CALGARY, ALBERTA–(Marketwired – May 12, 2016) – GRANITE OIL CORP. (“Granite” or the “Company“) (TSX:GXO)(OTCQX:GXOCF) is pleased to announce the results from its 2016 annual general meeting of shareholders held on May 12, 2016 in Calgary, Alberta (the “Meeting“). Each of the matters voted upon at the Meeting is discussed in detail in the Company’s Management Information Circular dated April 11, 2016, a copy of which is available on the Company’s SEDAR profile at www.sedar.com. The voting results for each of the matters voted on by the shareholders at the Meeting is provided below.
1. Fixing the Number of Directors
The shareholders passed a resolution fixing the number of directors to be elected at the Meeting at seven. The vote in respect of this matter carried out by ballot. The detailed results of voting are as follows.
| # Votes For | % Votes For | # Votes Against | % Votes Against | |||
| 22,281,661 | 99.75 | 54,370 | 0.25 |
2. Election of Directors
All of the nominees named in the Company’s Management Information Circular were elected as directors of the Company. The vote in respect of this matter carried out by ballot. The detailed results of voting are as follows.
| Nominee | # Votes For | % Votes For | # Votes Withheld | % Votes Withheld | ||||
| Kevin Andrus | 19,373,490 | 94.12 | 1,210,973 | 5.88 | ||||
| Brendan Carrigy | 20,522,095 | 99.70 | 62,368 | 0.30 | ||||
| Martin Cheyne | 20,520,433 | 99.69 | 64,030 | 0.31 | ||||
| Henry Hamm | 18,991,299 | 92.26 | 1,593,164 | 7.74 | ||||
| Michael Kabanuk | 20,522,294 | 99.70 | 62,169 | 0.30 | ||||
| Dennis Nerland | 18,025,050 | 87.57 | 2,559,413 | 12.43 | ||||
| Bradley Porter | 19,373,548 | 94.12 | 1,210,915 | 5.88 |
3. Reappointment of Auditor
The shareholders approved the reappointment of KPMG LLP, Chartered Accountants, as the auditors of the Company to hold office until the close of the next annual meeting of shareholders of the Company, at a remuneration to be fixed by the directors. The vote in respect of this matter carried out by ballot. The detailed results of voting are as follows.
| # Votes For | % Votes For | # Votes Withheld | % Votes Withheld | |||
| 19,950,775 | 89.32 | 2,386,615 | 10.68 |
Michael Kabanuk
President & CEO
(587) 349-9123
Granite Oil Corp.
Jonathan Fleming
E.V.P.
(587) 349-9118