Tourmaline Oil Corp. Announces Election of Directors and Quarterly Dividend

CALGARY, June 6, 2018 /CNW/ - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that the nominees listed in its information circular dated April 20, 2018 were elected as directors of Tourmaline at its annual and special meeting of shareholders on June 6, 2018 in Calgary, Alberta (the "Meeting").  All matters presented for approval at the Meeting, including the reduction in the stated capital of Company, were approved by Tourmaline's shareholders. A full report of voting results is available on SEDAR at www.sedar.com

Election of Directors

On a vote by ballot, each of the following ten nominees proposed by management was elected as a director of Tourmaline:

Dividend

Tourmaline's Board of Directors has declared a quarterly cash dividend on its common shares of C$0.09 per common share, representing a 12.5% increase to the Q1 2018 dividend of C$0.08 per common share. The dividend will be payable June 29, 2018 to shareholders of record at the close of business on June 15, 2018. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes.

About Tourmaline Oil Corp.

Tourmaline is a Canadian senior crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin.

SOURCE Tourmaline Oil Corp.