Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, Annual Share Unit and Stock Option Grant, and Declares Monthly Dividend for June 30, 2026

Rhea-AI Summary

Pine Cliff Energy (TSX:PNE, OTCQX:PIFYF) reported that all matters at its May 29, 2026 shareholder meeting were approved, with 111,664,320 shares (31.12% of outstanding) voted. Five directors were elected and Deloitte was reappointed as auditor.

The board granted 12,470,048 deferred share units, restricted share units and stock options, appointed Hilary A. Foulkes as Board Chair following William S. Rice’s retirement, and declared a $0.00125 monthly dividend per share payable June 30, 2026 to shareholders of record on June 15, 2026.

Positive

• 111,664,320 shares, or 31.12% of outstanding, voted at 2026 meeting
• Five-director slate elected with individual support up to 99.79% of votes cast
• Annual incentive grant totals 12,470,048 share units and stock options
• Stock options set at $0.61 exercise price, expiring 2028–2030
• Monthly dividend of $0.00125 per share payable June 30, 2026

Negative

• 12,470,048 share units and options may increase future share count and dilution

News Market Reaction – PIFYF

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In the Jun 1 session, PIFYF declined 2.19%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Calgary, Alberta--(Newsfile Corp. - May 29, 2026) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") is pleased to announce all matters presented for approval at the Annual Meeting of Shareholders on May 29, 2026 (the "Meeting") have been approved. A total of 111,664,320 common shares representing 31.12% of Pine Cliff's issued and outstanding common shares were voted in connection with the Meeting.

Each of the five nominees proposed by Pine Cliff and as set out in the Information Circular - Proxy Statement provided to shareholders in connection with the Meeting were duly elected as directors. Each of the nominees was elected as shown below:

Name of Nominee	Voted For	Percent	Votes Withheld	Percent
Hilary A. Foulkes	105,476,211	99.50%	529,993	0.50%
Robert B. Fryk	105,781,992	99.79%	224,212	0.21%
Philip B. Hodge	105,669,847	99.68%	336,357	0.32%
Calvin B. Jacober	105,782,492	99.79%	223,712	0.21%
Jacqueline R. Ricci	92,800,720	87.54%	13,205,484	12.46%

 

Deloitte LLP, Chartered Accountants, were appointed auditors of the Company for the ensuing year and the Board of Directors of Pine Cliff (the "Board") were authorized to fix their remuneration. The complete report on the voting results for the Meeting is available under the Company's profile at www.sedarplus.ca.

The Board has approved an annual grant of an aggregate of 12,470,048 deferred share units, restricted share units and stock options to its directors, officers and employees. The deferred share units issued to Board members vest upon resignation or retirement from the Board. The restricted share units vest over three years annually beginning on May 29, 2027. The stock options vest over three years annually, have an exercise price of $0.61 per share and will expire between May 29, 2028, and May 20, 2030.

Ms. Hilary A. Foulkes has been appointed Chair of the Board, following the decision by Mr. William S. Rice to retire. The Board would like to thank Mr. Rice for his dedication and service to Pine Cliff and wish him continued success and enjoyment in his retirement.

June Dividend

Pine Cliff has declared a monthly dividend of $0.00125 per common share to be paid June 30, 2026, to shareholders of record on June 15, 2026. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice.

About Pine Cliff

Pine Cliff is a natural gas and oil company with a long-term view of creating shareholder value. Pine Cliff's current focus is on acquiring, developing, and operating long life assets that generate free funds flow that allows for capital to be returned to shareholders in the form of a dividend. Further information relating to Pine Cliff may be found on www.sedarplus.ca as well as on Pine Cliff's website at www.pinecliffenergy.com.

For further information, please contact:
Philip B. Hodge - President and CEO
Kristopher B. Zack - CFO and Corporate Secretary
Telephone: (403) 269-2289
Fax: (403) 265-7488
Email: info@pinecliffenergy.com

The TSX does not accept responsibility for the accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299501

FAQ

What were the results of Pine Cliff Energy’s 2026 shareholder meeting for PIFYF?

All matters at Pine Cliff Energy’s May 29, 2026 shareholder meeting were approved. According to Pine Cliff, 111,664,320 shares, or 31.12% of outstanding shares, were voted, electing five directors and reappointing Deloitte LLP as auditor for the coming year.

How many share units and stock options did Pine Cliff (PIFYF) grant on May 29, 2026?

Pine Cliff granted a total of 12,470,048 share-based awards to directors, officers and employees. According to Pine Cliff, this includes deferred share units, restricted share units and stock options as part of its annual incentive program approved by the board.

What is Pine Cliff Energy’s June 30, 2026 monthly dividend for PIFYF shareholders?

Pine Cliff declared a monthly dividend of $0.00125 per common share, payable June 30, 2026. According to Pine Cliff, shareholders of record on June 15, 2026 will receive this dividend, which is expected to be designated as a non-eligible dividend for Canadian tax purposes.

When do Pine Cliff’s 2026 restricted share units and stock options vest and expire?

Restricted share units vest annually over three years starting May 29, 2027, while stock options vest over three years. According to Pine Cliff, the options have a $0.61 exercise price and expire between May 29, 2028 and May 20, 2030, depending on grant tranche.

Who is the new Chair of Pine Cliff Energy’s board in 2026 for PIFYF investors?

Hilary A. Foulkes has been appointed Chair of Pine Cliff’s Board in 2026. According to Pine Cliff, she assumes the role following the retirement of William S. Rice, whom the board thanked for his dedication and service to the company.

How do Pine Cliff’s deferred share units for directors vest after the 2026 grants?

Deferred share units granted to Pine Cliff directors vest upon their resignation or retirement from the board. According to Pine Cliff, this structure aligns long-term director compensation with shareholder interests by tying settlement to the end of board service.