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PetroBakken Energy Ltd. Changes Name to Lightstream Resources Ltd. and Announces Voting Results from Shareholder Meeting

PetroBakken Energy Ltd. Changes Name to Lightstream Resources Ltd. and 
Announces Voting Results from Shareholder Meeting 
CALGARY, ALBERTA -- (Marketwired) -- 05/22/13 -- PetroBakken Energy
Ltd. (TSX:PBN) ("PetroBakken" or "the Company") announces that our
shareholders have approved our name change to Lightstream Resources
Ltd., which will be made effective immediately. In conjunction with
our name change our stock symbol is replaced with "LTS" on the
Toronto Stock Exchange. This change will be effective in 2-3 business
days. 
Over the last several years, our asset base has grown to include a
diverse portfolio of light oil resource plays focused in Alberta and
Saskatchewan, and we are no longer an affiliate of our former parent
company, Petrobank Energy and Resources Ltd. Our business plan
remains unchanged, however the name change better reflects our
corporate evolution and the company we are today. 
The new name, Lightstream Resources Ltd., represents our strategic
focus on effectively developing light oil resource plays to deliver
growth and a sustainable dividend for our shareholders. We are
committed to maximizing recoveries at the lowest possible cost
through the application of innovative ideas, while staying true to
our core values and the best interests of our shareholders,
stakeholders and employees.  
In addition to approving the name change, shareholders voting at the
annual general and special meeting of shareholders held on May 22,
2013 considered the following matters: 
Election of Directors 
By resolution passed via ballot, each of the eight nominees proposed
as a director were elected as directors of the Company to serve until
the next general meeting of shareholders, or until their successors
are elected or appointed. The results of the ballot were as follows:  


 
                               Votes For                  Votes Withheld    
                         ---------------------------------------------------
Director Elected              Number   Percent             Number   Percent 
----------------------------------------------------------------------------
Ian S. Brown              45,203,101     86.98%         6,763,893     13.02%
Martin Hislop             48,010,427     92.39%         3,956,567      7.61%
Craig Lothian             47,919,695     92.21%         4,047,299      7.79%
Kenneth R. McKinnon       46,408,857     89.30%         5,558,137     10.70%
Corey C. Ruttan           48,127,631     92.61%         3,839,363      7.39%
Dan Themig                49,916,072     96.05%         2,050,922      3.95%
W. Brett Wilson           40,859,770     78.63%        11,107,224     21.37%
John D. Wright            45,517,388     87.59%         6,449,606     12.41%

 
Appointment of Auditors  
By a resolution passed by ballot, Deloitte LLP was appointed as
auditor of the Company to hold office until close of the next annual
general meeting or until their successors are duly appointed.  
Amendment to Bylaw No. 1 
By resolution by ballot, shareholders did not approve the amendments
to bylaw no. 1 of the Company to provide for, among other things,
advance notice provisions with respect to the election of directors.
We proposed the amendment to our bylaws to provide for advance notice
provisions as we are of the view that allowing reasonable time for
our shareholders to consider proposed director nominees represents
good governance. However, our provisions did not conform in minor
ways with the forms recently suggested by proxy advisory firms. We
plan to make conforming minor amendments to these provisions and
adopt an amended bylaw no. 1 to be voted on by shareholders at our
next annual general meeting.  
Lightstream Resources Ltd. is an oil and gas exploration and
production company combining light oil Bakken and Cardium resource
plays with conventional light oil assets, delivering industry leading
operating netbacks, strong cash flows and production growth.
Lightstream is applying leading edge technology to a multi-year
inventory of Bakken and Cardium light oil development locations. Our
strategy is to deliver accretive production and reserves growth,
along with an attractive dividend yield.
Contacts:
PetroBakken Energy Ltd.
John D. Wright
President and Chief Executive Officer
403.268.7800 
PetroBakken Energy Ltd.
Peter D. Scott
Senior Vice President and Chief Financial Officer
403.268.7800 
PetroBakken Energy Ltd.
William A. Kanters
Vice President, Capital Markets
403.268.7800
ir@lightstreamres.com
www.lightstreamresources.com
 
 
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