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ClearStream Announces Voting Results from Shareholders’ Meeting

CALGARY, Alberta, June 19, 2020 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”) (CSM.TO) is pleased to announce that all matters presented for approval at its annual and special meeting (the "Meeting") of holders of common shares ("Common Shares") held earlier today were approved.  A total of 45,442,195 Common Shares, representing approximately 41.31% of the issued and outstanding Common Shares, were represented at the Meeting.

All of the nominees listed in ClearStream's management information circular dated May 7, 2020 (the "Information Circular") were elected as directors of ClearStream to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.  The results of the vote were:

    Votes For   Votes Witheld
Nominee   #   %   #   %
Jordan L. Bitove   44,791,055   98.70   588,022   1.30
Herbert Fraser Clarke   45,248,087   99.71   130,990   0.29
Karl Johannson   45,254,033   99.72   125,044   0.28
Dean T. MacDonald   45,044,207   99.26   334,870   0.74
Sean D. McMaster   45,249,033   99.71   130,044   0.29
Yves Paletta   44,943,087   99.04   435,990   0.96

Ernst & Young LLP was appointed as ClearStream’s auditor until the next annual meeting of shareholders, and the directors were authorized to fix their remuneration. The result of the vote was:

Votes For   Votes Witheld
#   %   #   %
45,393,207   99.89   48,986   0.11

The new form of by-laws of ClearStream, including advance notice provisions, as more particularly described under “Particulars of the Matters to be Acted Upon – Approval of New Form of By-Laws” in the Information Circular, were approved.  The result of the vote was:

Votes For   Votes Against
#   %   #   %
44,860,486   98.86   518,591   1.14

About ClearStream Energy Services Inc.

With a legacy of excellence and experience stretching back more than 50 years, ClearStream provides solutions to the Energy and Industrial markets including: Oil & Gas, Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and a dedicated workforce, we provide maintenance, construction and environmental services that keep our clients moving forward. For more information about ClearStream, please visit www.clearstreamenergy.ca or contact:

Randy Watt
Chief Financial Officer
ClearStream Energy Services Inc.
(587) 318-0997
rwatt@clearstreamenergy.ca
Yves Paletta
Chief Executive Officer
ClearStream Energy Services Inc.
(587) 318-0997
ypaletta@clearstreamenergy.ca