TIDMAXL
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 Votes For Votes Against
of or Withheld
Vote
1. Number of Directors 74,733,043 337,692
To set the number of directors
at six (6). Approved 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
Appointment of Deloitte LLP as 75,066,341 4,394
Auditors of the Corporation for
the ensuing year and authorizing
the Directors to fix their remuneration. Approved 99.99 % 0.01%
------------ ------------ --------------
4. Approval and Amendment of Option
Plan
To re-approve the Corporation's
stock option plan and to approve
certain amendments thereto as more
particularly set out in the Information 74,427,732 643,003
Circular and Proxy Statement (collectively,
the " Circular ") of the Corporation
dated June 6, 2022. Approved 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 99.87% 0.13%
Ltd. of certain common shares and
common share purchase warrants Excluding 38,715,205 94,117
of the Canacol
Corporation; and (ii) the creation Shares
of Canacol as a "control person" 95.72 % 4.28%
for the purposes of the rules of
the TSX Venture Exchange as more
particularly
set out in Circular.
------------ ------------ --------------
74, 669,
6. Approval of Option Grants 298 401,437
To approve the grant of 1,000,000
options to each of Mr. Grant M.
Carnie and Ms. Maria Charash Koundina Approved 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
James Asensio
Gordon Hamilton +44 (0)20 7523 8000
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.
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END
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