Leucrotta Exploration Inc. announces securityholder approval of the plan of arrangement at special meeting and provides transaction update

Calgary, Alberta – Leucrotta Exploration Inc. (TSXV: LXE) (the “Corporation“) announces that the Corporation’s Securityholders (as defined below) approved the previously announced plan of arrangement (the “Arrangement“) involving the Corporation, Coelacanth Energy Inc. (“ExploreCo“), Vermilion Energy Inc. (“Vermilion“) and the Securityholders at a special meeting of the Securityholders held on Friday, May 20, 2022 (the “Meeting“).

The special resolution approving the Arrangement was approved by approximately: (i) 100% of the votes cast by the holders (the “Shareholders“) of common shares of the Corporation (“Shares“), the holders (the “Warrantholders“) of Share purchase warrants issued pursuant to a warrant indenture dated March 31, 2021 between the Corporation and Computershare Trust Company of Canada (“Warrants“), and the holders (the “FT Warrantholders“, and together with the Shareholders and Warrantholders, the “Securityholders“) of Share purchase warrants issued on June 22, 2021 entitling the holder to acquire Shares that on issuance constitute “flow-through shares” as defined under the Income Tax Act (Canada) (“FT Warrants“, and together with Shares and Warrants, “Securities“), voting as a single class, present or represented by proxy at the Meeting; and (ii) 100% of votes cast by Securityholders other than votes attached to Securities required to be excluded pursuant to Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions.