Press Release
Calgary, Alberta – Tourmaline Oil Corp. (TSX – TOU) (“Tourmaline” or the “Company”) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.32 per share. The dividend will be payable on June 28, 2024 to shareholders of record at the close of business on June 14, 2024. This quarterly cash dividend is designated as an “eligible dividend” for Canadian income tax purposes.
ELECTION OF DIRECTORS
Tourmaline also announces that the following nine individuals proposed by management were elected as directors of Tourmaline at its annual meeting of shareholders held on June 5, 2024 (the “Meeting”):
Nominee | Votes For | % For | Votes Withheld | % Withheld | ||||
Michael L. Rose | 237,346,148 | 97.92 | 5,040,056 | 2.08 | ||||
Brian G. Robinson | 226,674,874 | 93.52 | 15,711,330 | 6.48 | ||||
Jill T. Angevine | 233,364,697 | 96.28 | 9,021,507 | 3.72 | ||||
William D. Armstrong | 239,621,224 | 98.86 | 2,764,980 | 1.14 | ||||
Lee A. Baker | 239,335,774 | 98.74 | 3,050,430 | 1.26 | ||||
Christopher E. Lee | 242,325,739 | 99.98 | 60,465 | 0.02 | ||||
Andrew B. MacDonald | 223,564,846 | 92.23 | 18,821,358 | 7.77 | ||||
Lucy M. Miller | 230,286,549 | 95.01 | 12,099,655 | 4.99 | ||||
Janet L. Weiss | 242,273,066 | 99.95 | 113,138 | 0.05 |
All other matters presented for approval at the Meeting, including the appointment of auditors, were approved by Tourmaline’s shareholders. A report of voting results will be available on SEDAR+ at www.sedarplus.ca.
Reader Advisories
CURRENCY
All amounts in this news release are stated in Canadian dollars unless otherwise specified.
ABOUT TOURMALINE OIL CORP.
Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest emission and lowest-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution and cost management, and industry-leading environmental performance, we are excited to provide shareholders an excellent return on capital, and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403)266-5992
OR
Tourmaline Oil Corp.
Brian Robinson
Chief Financial Officer
(403)767-3587; brian.robinson@tourmalineoil.com
OR
Tourmaline Oil Corp.
Scott Kirker
Chief Legal Officer and External Affairs
(403)767-3593;scott.kirker@tourmalineoil.com
OR
Tourmaline Oil Corp.
Jamie Heard
Vice President, Capital Markets
(403)767-5942; jamie.heard@tourmalineoil.com
OR
Tourmaline Oil Corp.
Suite 2900, 250 – 6th Avenue S.W.
Calgary, Alberta T2P 3H7
Phone: (403) 266-5992; Facsimile: (403) 266-5952
E-mail: info@tourmalineoil.com
Website: www.tourmalineoil.com
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