San Angelo Oil Limited Announces Voting Results from Special Meeting of Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 4, 2017) - San Angelo Oil Limited (NEX:SAO.H) (the "Company") announces the results of its special meeting of shareholders held in Vancouver, British Columbia, on July 4, 2017.

The Company is pleased to announce that shareholders voted in favour of increasing the number of directors of the Company from three (3) to four (4) and elected Delaram Salem, the Company's current Chief Financial Officer, to the board of directors. 100% of the votes cast were in favour of electing Delaram Salem to the board of directors.

At the meeting, shareholders voted 99.93% in favour of the proposed share consolidation of the Company's common shares on the basis of one (1) post-consolidation common share of the Company for each five (5) pre-consolidation common shares of the Company. Shareholders also voted 99.98% in favour of approving the Company's 2017 stock option plan.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.