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, September 27, 2024 - Arrow Exploration Corp.
(AIM: AXL; TSXV: AXL) ("Arrow" or the "Company"), the
high-growth operator with a portfolio of assets across key
Colombian hydrocarbon basins, 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
September 25, 2024 and the outcome of the vote:
|
Description of Matter
|
Outcome of Vote
|
Votes For
|
Votes Against or
Withheld
|
|
1. Number of
Directors
To set the number of directors at six
(6).
|
Approved
|
32,483,567
99.74%
|
83,518
0.26%
|
|
2. Election of
Directors
Marshall Abbott
|
Approved
|
32,436,651
99.60%
|
130,434
0.40%
|
|
Grant M. Carnie
|
Approved
|
32,536,651
99.91%
|
30,434
0.09%
|
|
Gage Jull
|
Approved
|
20,877,917
64.11%
|
11,689,168
35.89%
|
|
Ian Langley
|
Approved
|
32,536,651
99.91%
|
30,434
0.09%
|
|
Ravi Sharma
|
Approved
|
32,383,680
99.44%
|
183,405
0.56%
|
|
Anthony Zaidi
|
Approved
|
32,383,630
99.44%
|
183,455
0.56%
|
|
3. Appointment of
Auditors
Appointment of Ernst & Young LLP as
Auditors of the Corporation of the ensuing year and authorizing the
Directors to fix their remuneration.
|
Approved
|
32,525,183
99.87%
|
41,902
0.13%
|
|
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
Circular and Proxy Statement
(collectively, the "Circular") of the Corporation
dated August 7, 2024.
|
Approved
|
20,751,170
63.72%
|
11,815,915
36.28%
|
For further
Information, contact:
|
Arrow
Exploration
|
|
|
Marshall Abbott, CEO
|
+1 403 651 5995
|
|
Joe McFarlane, CFO
|
+1 403 818 1033
|
|
|
|
|
Canaccord
Genuity (Nominated Advisor and Joint Broker)
|
|
|
Henry Fitzgerald-O'Connor
James Asensio
George
Grainger
|
+44 (0)20 7523 8000
|
|
Auctus Advisors
(Joint Broker)
|
|
|
Jonathan Wright
|
+44 (0)7711 627449
|
|
Rupert Holdsworth Hunt
|
|
|
Camarco (Financial
PR)
|
|
|
Andrew Turner
|
+44 (0)20 3781 8331
|
|
Rebecca Waterworth
|
|
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 global
pandemics, the potential of Arrow's Colombian and/or Canadian
assets (or any of them individually), 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.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
