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    CSM   CA18506V1022

CLEARSTREAM ENERGY SERVICES INC.

(CSM)
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ClearStream Announces Voting Results from Shareholders' Meeting

06/18/2021 | 01:11pm EDT

CALGARY, Alberta, June 18, 2021 (GLOBE NEWSWIRE) -- ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) 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 28,825,958 Common Shares, representing approximately 26% 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 6, 2021 (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 Withheld
Nominee # % # %
Jordan L. Bitove 28,231,225 99.53 134,209 0.47
Herbert Fraser Clarke 28,231,025 99.53 134,409 0.47
Karl Johannson 27,778,272 97.93 587,162 2.07
Dean T. MacDonald 28,051,691 98.89 313,743 1.11
Sean D. McMaster 28,028,226 98.81 337,208 1.19
Yves Paletta 28,256,890 99.62 108,544 0.38

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 Withheld
# % # %
28,472,750 99.98 6,504 0.02

The continuance of ClearStream out of the jurisdiction of Ontario under the Business Corporations Act (Ontario) and into the jurisdiction of Alberta under the Business Corporations Act (Alberta) and the adoption by ClearStream of by-laws that are compliant with the Business Corporations Act (Alberta), as more particularly described in the Information Circular under “Particulars of the Matters to be Acted Upon – Continuance of the Corporation from Ontario to Alberta”, was approved. The result of the vote was:

Votes For Votes Against
# % # %
28,355,274 99.96 10,160 0.04

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

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ę GlobeNewswire 2021
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Financials
Sales 2020 393 M 318 M 318 M
Net income 2020 3,50 M 2,82 M 2,82 M
Net Debt 2020 169 M 137 M 137 M
P/E ratio 2020 0,94x
Yield 2020 -
Capitalization 7,70 M 6,22 M 6,22 M
EV / Sales 2019 0,47x
EV / Sales 2020 0,44x
Nbr of Employees 3 300
Free-Float 93,0%
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Managers and Directors
Yves F. Paletta Chief Executive Officer & Non-Independent Director
Randy Watt Chief Financial Officer
Sean David McMaster Independent Non-Executive Chairman
Neil Wotton Chief Operating Officer
Jordan L. Bitove Independent Director
Sector and Competitors