HALIFAX, Nova Scotia, May 12, 2017, (TSX – CDH): Corridor Resources Inc. (“Corridor”) announces that a new management presentation was made by Steve Moran, President and CEO, at the annual meeting of shareholders held on May 11, 2017 (the “Shareholders’ Meeting”). This presentation is now available on Corridor’s website at www.corridor.ca.
Corridor is also pleased to announce that shareholders approved at the Shareholders’ Meeting each of the resolutions set forth in the Notice of 2016 Shareholders’ Meeting and the Management Information Circular dated April 11, 2017, which are available on SEDAR at www.sedar.com under Corridor’s profile.
A total of 40,372,324 common shares were voted at the Shareholders’ Meeting, representing 45.54% of the issued and outstanding common shares of Corridor.
The voting results for each matter presented at the Shareholders’ Meeting are provided below:
- Election of Directors
The following seven nominees were elected as directors of Corridor to serve until the next annual meeting of the shareholders of Corridor or until their successors are elected or appointed. Each of the resolutions electing the directors was conducted by ballot, with the following results:
|Votes For||Votes Withheld|
|J. Douglas Foster||28,385,458
| Martin Fräss-Ehrfeld
|Stephen J. Moran||28,682,958
|Phillip R. Knoll||28,562,758
|Norman W. Miller||25,236,001
|Robert D. Penner||28,510,758
|James S. McKee||28,681,458
Mike Seth retired from the board of directors at the conclusion of the Shareholders’ Meeting. Douglas Foster, chairman of the board of directors of Corridor, thanked Mr. Seth for his significant contributions to the board and Corridor over the past 11 years.
- Appointment of Auditor
PricewaterhouseCoopers LLP, Chartered Accountants, was appointed as auditor of Corridor for the ensuing year with the directors to fix the auditor’s remuneration. The resolution appointing the auditor was conducted by ballot, with the following result:
|Votes For||Votes Withheld|
- Approval of the continuation of and amendments to the Shareholder Rights Plan
The Amended and Restated Shareholders Rights Plan and the continuation of the shareholders rights plan (as amended and restated) was approved. The resolution approving the Amended and Restated Shareholders Rights Plan was conducted by ballot, with the following result:
|Votes For||Votes Against|
Corridor is a Canadian junior resource company engaged in the exploration for and development and production of petroleum and natural gas onshore in New Brunswick and Québec and offshore in the Gulf of St. Lawrence. Corridor currently has natural gas production and reserves in the McCully Field near Sussex, New Brunswick. In addition, Corridor has a shale gas prospect in New Brunswick, an offshore conventional hydrocarbon prospect in the Gulf of St. Lawrence and an unconventional hydrocarbon prospect through a 21.67% interest in Anticosti Hydrocarbons L.P., a joint venture which has undiscovered resources on Anticosti Island, Québec.
For further information:
Contact: Steve Moran, President and CEO
Corridor Resources Inc.
#301, 5475 Spring Garden Road, Halifax, Nova Scotia B3J 3T2
Ph: (902) 429-4511 F: (902) 429-0209