TIDMAXL
RNS Number : 1374N
Arrow Exploration Corp.
21 September 2023
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 21, 2023 - 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 20, 2023 and
the outcome of the vote:
Description of Matter Outcome Votes For Votes Against
of Vote or Withheld
81,494,609
1. Number of Directors Approved 99.64% 293,665
To set the number of directors
at six (6). 0.36%
----------- --------------
81,754,333
2. Election of Directors Approved 99.96% 33,941
Marshall Abbott 0.04%
----------- --------------
81,544,778
Grant M. Carnie Approved 99.70% 243,495
0.30%
--------------------------------------------------------------- ----------- --------------
78,555,924 3,232,349
Gage Jull Approved 96.05% 3.95%
----------- ----------- --------------
81,545,205
Ian Langley Approved 99.70% 243,068
0.30%
--------------------------------------------------------------- ----------- --------------
81,266,851
Ravi Sharma Approved 99.36% 521,422
0.64%
--------------------------------------------------------------- ----------- --------------
81,320,174
Anthony Zaidi Approved 99.43% 468,099
0.57%
--------------------------------------------------------------- ----------- --------------
81,618,085
3. Appointment of Auditors Approved 99.83% 140,188
Appointment of Ernst & Young LLP
as Auditors of the Corporation
of the ensuing year and authorizing
the Directors to fix their remuneration. 0.17%
----------- --------------
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 78,135,871 3,514,190
dated August 8, 2023. Approved 95.70% 4.30%
----------- ----------- --------------
5. Approval of Option Grants to
Independent Directors
To approve the grant of options
to each to independent Directors 78,361,377 3,288,684
of the Company Approved 95.97% 4.03%
----------- ----------- --------------
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 Advisand
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)
Andrew Turner +44 (0)20 3781 8331
Rebecca Waterworth
Kirsty Duff
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. By way of a
private commercial contract with the recognized interest holder
before Ecopetrol S.A., Arrow is entitled to receive 50% of the
production from the Tapir block. The formal assignment to the
Company is subject to Ecopetrol's consent. 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 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
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 developments that Arrow anticipates expects may,
occur in the future (in whole 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/Canadian assets (any of them individually), the
prices of oil and/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 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 revise any
forward-looking statements, whether as a result of new information,
future events otherwise, unless so required by applicable
securities laws.
Neither TSX Venture Exchange nits Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility of the adequacy accuracy of this
release.
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END
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