VANCOUVER, British Columbia, July 14, 2023 (GLOBE NEWSWIRE) -- Pulse Oil Corp., ("Pulse" or the "Company") (TSXV: PUL) is pleased to announce from its 2023 annual general and special meeting of shareholders (the "Meeting") held today in Vancouver, B.C. Shareholders voted as follows on the matters before the Meeting.
Election of Directors
All six of the nominees listed in Pulse's management information circular dated June 9, 2023 that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company's shareholders or until their successors are elected or appointed.
Annual general and special meeting results:
| Election of Directors | |||||||
| Nominee | For | % For | Withheld | % Withheld | |||
| Garth Johnson | 233,444,501 | 99.27 | 1,724,000 | 0.73 | |||
| Drew Cadenhead | 235,149,501 | 99.99 | 19,000 | 0.01 | |||
| Douglas Ellenor | 234,462,751 | 99.70 | 705,750 | 0.30 | |||
| John Doyle | 235,149,501 | 99.99 | 19,000 | 0.01 | |||
| Daniel Bolstad | 235,149,501 | 99.99 | 19,000 | 0.01 | |||
| Patrick Harrison | 235,149,501 | 99.99 | 19,000 | 0.01 | |||
| The directors will remain in office until the next annual meeting of the Company's shareholders or until their earlier resignation. | |||||||
| For | % For | Against | Against % | Withheld | Withheld % | ||
| Appointment of Auditors | 235,149,501 | 99.99 | N/A | N/A | 19,000 | 0.01 | |
| Other Business | 232,997,501 | 99.08 | 2,171,000 | 0.92 | N/A | N/A | |
Appointment of Auditors
Shareholders appointed MNP LLP as auditor of the Company for the upcoming year and authorized the directors of the Company to fix the remuneration of the auditor.
About Pulse
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% Working Interest Enhanced Oil Project Located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years. The Company plans to institute a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR project and unlock significant value for shareholders. Pulse's total reclamation liabilities are just $2.7 million which, when compared to many peers in the industry in Western Canada, are very low.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Pulse Oil Corp.
Garth Johnson
CEO
604-306-4421
garth@pulseoilcorp.com
Drew Cadenhead
Director
drew@pulseoilcorp.com
