In addition, today Toscana held its annual and special meeting of Toscana shareholders (the Shareholders) in
APPROVAL OF THE ARRANGEMENT
Toscana announced today that the Arrangement was approved by the Shareholders. At the Meeting, the Arrangement was approved by 76.78% of the votes cast by Shareholders. Details of the voting results for the annual and special meeting are available on SEDAR at www.sedar.com. Subject to remaining customary closing conditions being satisfied or waived, Toscana expects the Arrangement to close on or about
ELECTION OF DIRECTORS
1 According to a show of hands, the number of directors to be elected at the Meeting was set at four (4). Proxies were received as follows:
Votes For | Votes Against | ||||
Number | Percentage | Number | Percentage | ||
49,443,947 | 81.80% | 11,002,731 | 18.20% |
2 The four director nominees proposed by management were elected by ballot at the Meeting. Proxies and in-person votes were received as follows:
NOMINEE | VOTES FOR | VOTES WITHHELD | ||||
NUMBER | PERCENTAGE | NUMBER | PERCENTAGE | |||
45,249,835 | 74.06% | 15,848,214 | 25.94% | |||
45,859,800 | 75.06% | 15,238,249 | 24.94% | |||
46,186,132 | 75.59% | 14,911,917 | 24.41% | |||
46,186,132 | 75.59% | 14,911,917 | 24.41% |
APPOINTMENT OF AUDITORS
According to a show of hands,
Votes For | Votes Withheld | ||||
Number | Percentage | Number | Percentage | ||
55,855,199 | 92.34% | 4,634,492 | 7.66% |
ABOUT TOSCANA
For further information, please contact:
Tel: (403) 355-0455
Fax: (403) 444-0090
ADVISORIES
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements or forward-looking information under applicable securities legislation. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", or similar words suggesting future outcomes or statements regarding an outlook.
Specific forward-looking statements in this press release include, but are not limited to statements regarding the Arrangement, including completion of the Arrangement and the timing in respect thereof. Such information reflects Toscana’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, without limitation: the impact of any changes in the laws and regulations in the jurisdictions in which Toscana operates.
Although Toscana believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements or information because Toscana can give no assurance that such expectations will prove to be correct. The forward-looking statements and information are based on Toscana's current expectations, estimates and projections, and are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, among others: the risk that the Arrangement may not be completed on a timely basis, if at all; the conditions to the consummation of the Arrangement may not be satisfied; the risk that the Arrangement may involve unexpected costs, liabilities or delays; the possible occurrence of an event, change or other circumstance that could result in termination of the Arrangement; necessary approvals from the
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