Parex Resources Announces Voting Results for Election of Directors

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CALGARY, AB–(Marketwired – May 11, 2017) –

Not for distribution to US Newswire Services or for dissemination in the United States

Parex Resources Inc. («Parex» or the «Company«) (TSX: PXT) is pleased to announce that on May 11, 2017 it held its annual general and special meeting of shareholders (the «Meeting«). At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed, with the number and percentage of common shares represented at the Meeting voting by way of ballot in favour of and withheld from voting for each of the individual nominees as follows:

         
    FOR   WITHHELD
    Number   Percentage   Number   Percentage
Curtis Bartlett   112,333,899   97.74%   2,592,870     2.26%
Lisa Colnett   112,183,926   97.61%   2,742,843     2.39%
Robert Engbloom   111,917,137   97.38%   3,009,632     2.62%
Wayne Foo   111,893,616   97.36%   3,033,153     2.64%
Bob (G.R.) MacDougall   114,781,604   99.87%   145,165     0.13%
Glenn McNamara   114,781,504   99.87%   145,265     0.13%
Ron Miller   113,875,787   99.09%   1,050,982     0.91%
David Taylor   114,205,944   99.37%   720,825     0.63%
Paul Wright   113,875,612   99.09%   1,051,157     0.91%
                   

As part of the Company’s succession planning efforts, effective today, Wayne Foo has retired from the office of Chief Executive Officer and transitioned to the role of Chairman of the Board of Directors of the Company and David Taylor, Parex’ current President, has assumed the role of President and Chief Executive Officer of Parex. In connection with these changes, Robert Engbloom has been appointed as Parex’ Lead Director.

An audio recording of the Meeting will be available at www.parexresources.com.

Contact Information:

For more information please contact:

Michael Kruchten
Vice-President Corporate Planning and Investor Relations
Parex Resources Inc.
Phone: (403) 517-1733
[email protected]

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