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Keweenaw Land Announces Final Vote Results on Matters Before the 2020 Annual Meeting of Shareholders

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IRONWOOD, Mich., May 13, 2020 (GLOBE NEWSWIRE) -- Keweenaw Land Association, Limited (OTC US: KEWL) today announced the final results of the shareholder vote of the proposals presented at the Company’s annual meeting held on May 11, 2020, which are as follows:

Proposal 1: Election of six nominees to the Board of Directors, each for a term expiring at the 2021 Annual Meeting.

For

Withhold

Broker Non-votes

James A. Mai

865,336

28,700

0

John D. Enlow, Sr.

874,836

19,200

0

Peter C. Madden

877,088

16,948

0

Ian D. Haft

856,162

37,874

0

Steven Winch

831,481

62,555

0

Paul D. Sonkin

864,776

29,260

0

Proposal 2: To ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2020.

For

Against

Abstain

Broker Non-votes

879,830

4,267

9,939

0

Keweenaw Chairman, James A. Mai commented, “We are pleased to have received strong shareholder support for the items on this year’s agenda and extend our appreciation to our shareholders for their continued support. We also thank and congratulate our executive team for successfully carrying out our first virtual shareholder meeting. The virtual format both increased access to our shareholders and helped ensure their safety in the face of travel and meeting restrictions occasioned by the COVID-19 pandemic.”

Contact: Paula J. Aijala, Secretary, Keweenaw Land Association, Limited, investors@keweenaw.com

About Keweenaw Land Association, Limited: Keweenaw is a forest products and land management company located in Ironwood, Michigan. Keweenaw has land holdings exceeding 180,000 surface acres and 400,000 acres of mineral rights, located predominantly in the western Upper Peninsula of Michigan and northern Wisconsin. Additional information is available on the Company's website at www.keweenaw.com.

Forward-Looking Statements: This release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties and should not be relied upon as predictions of future events or promises of a given course of action. A number of factors such as changing economic conditions, price fluctuations, land use, environmental and other governmental regulations, and risk of loss from natural disasters, including the significant health and economic disruption caused by the outbreak of COVID-19, could cause actual results to differ materially from those described in the forward-looking statements. As with any investment, past performance is not a guarantee of future results. The Company is currently not subject to the filing requirements of the Securities Exchange Act of 1934, as amended. The Company is categorized as "Pink Current" under the OTC Markets Group.