CALGARY, ALBERTA--(Marketwired - June 25, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES
Shoreline Energy Corp. (TSX:SEQ) (" Shoreline " or the " Corporation ") is pleased to announce that its shareholders approved all of the resolutions outlined in the Notice of 2013 Annual and Special Meeting and Management Proxy Circular dated May 3, 2013 at its Annual and Special Meeting held on June 13, 2013 (the " Meeting ").
At the Meeting, the following individuals were re-elected as directors of the Corporation: Shaun Alspach, Trevor Folk, Peter Henry, Daniel Long and John Williams. All directors were re-elected with the support of over 98% of the votes cast in person or by proxy. The shareholders also re-appointed KPMG LLP, Chartered Accountants, as the auditor of Shoreline for the ensuing year.
In addition, Shoreline's shareholders approved an amendment to the Articles of the Corporation which implements a requirement for advance notice in connection with the nomination of individuals for election as director of the Corporation (" Advance Notice By-Law "). The purpose of the Advance Notice By-Law is to provide a clear and transparent process for all shareholders to follow if they intend to nominate directors.
The Advance By-Law provides for a deadline by which shareholders of the Corporation must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the information that the nominating shareholder must include in the notice to the Corporation for the notice to be in the proper written form. Notice to the Corporation must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.
The full text of the Advance Notice By-Law, together with the detailed proxy voting on all resolutions submitted to the shareholders at the Meeting, is contained in the "Report of Voting Results" for the Meeting which is available under the Corporation's profile on SEDAR at www.sedar.com .
About Shoreline Energy
Investor Information
Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. Shoreline offers investors a combination of value growth via lower risk development of additional oil reserves and production on its current lands and pays a quarterly dividend. The Common Shares are currently listed on the TSX under the trading symbol "SEQ" and the debentures under the trading symbol "SEQ.DB". Additional information regarding Shoreline is available under the Corporation's profile at www.sedar.com or at the Corporation's website, www.shorelineenergy.ca .
