Crew Energy Inc. Announces Update on COVID-19 Measures for Its Annual General and Special Meeting of Shareholders and Reaffirms Board Nominees

CALGARY, Alberta, May 10, 2021 (GLOBE NEWSWIRE) — Crew Energy Inc. (“Crew” or the “Company“) (TSX: CR) has scheduled its Annual General and Special Meeting of Shareholders for 3:00 p.m. on Thursday, May 20, 2021 (the “Meeting“). Crew was hopeful that Alberta would be emerging from the COVID-19 pandemic which would allow for an in-person meeting of its shareholders. However, in light of the most recent and enhanced “stop the spike” COVID-19 restrictions announced by the Alberta Government, as well as the continued advice of the Public Health Agency of Canada and Alberta Health Services strongly discouraging indoor gatherings of any kind, in order to adhere to the latest restrictions and reduce potential risks to the health and safety of its shareholders, employees and other stakeholders, Crew is asking registered and beneficial shareholders alike to cast their votes in advance of the Meeting and to remain at home and NOT attend the Meeting in person. Attendance in person is expected to be restricted to essential personnel only and registered shareholders and proxyholders only if restrictions allow. Guests will not be permitted and there will be no presentation or reception following the formal portion of the Meeting.

The Company reserves the right to refuse admission to any registered shareholders or duly appointed proxyholder seeking to attend the Meeting in person, but whose attendance the Company believes would violate applicable public health laws, restrictions, policies or emergency orders in place at the time of the Meeting. Health and safety remain Crew’s highest priority. The Company will continue to monitor the ongoing COVID-19 pandemic and will be adhering to all federal and provincial restrictions and recommendations in place regarding public gatherings. Shareholders are invited to monitor Crew’s website at www.crewenergy.com for any updates and are encouraged to visit the Crew website often where there is a wealth of information designed to inform and educate shareholders and investors alike.

The details of all matters to be voted upon by Crew shareholders at the Meeting including, without limitation, information in respect of the nominee directors standing for election to the Board of Directors of the Company (the “Board“), are described in the Company’s Information Circular and Proxy Statement dated April 16, 2021 (the “Circular“) which has been filed on SEDAR and is available on the Company’s website. The Board also wishes to take this opportunity, following shareholder inquiry, to reaffirm that Mr. Ryan Shay, along with all of the other Board nominees named in the Circular, will continue to stand for election to Crew’s Board at the Meeting. Mr. Shay has been a director of Crew since May of 2018 and is also a director of Perpetual Energy Inc. since October of 2017 and Journey Energy Inc. since May of 2017.

As recently publicly announced, in addition to his directorship with Perpetual, Mr. Shay was appointed as Vice-President Finance and CFO of Perpetual effective May 4, 2021. While he was not formally appointed to his office as Vice President and CFO of Perpetual until May 4, 2021, Mr. Shay commenced employment with Perpetual on February 1, 2021 to assist in a financial capacity and to effect an orderly transition. Mr. Shay has also confirmed he will not be standing for re-election to the board of directors of Journey Energy Inc. at their upcoming annual meeting. The Board of Crew congratulates Mr. Shay on his appointment and following Mr. Shay’s assurances that, among other matters, he is dedicated to continue to commit the necessary resources and time to Crew, the Board determined and remains satisfied that Mr. Shay will continue to meet Crew’s highest standards of integrity, including the due exercise of his director duties of loyalty and good faith to Crew and all its stakeholders. Accordingly, the Board reaffirms its recommendation that shareholders vote in favour of Mr. Shay’s re-appointment to the Board at the Meeting, along with all of the other nominees named in the Circular.

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