TOSCANA ENERGY REPORTS VOTING RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

CALGARY, Alberta, June 13, 2016 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana Energy” or the “Company”) (TSX:TEI) held its annual and special meeting of shareholders on April 25, 2016 in Calgary, Alberta.  A total of 911,933 common shares (“Common Shares”) of the Company, representing approximately 12.70% of Common Shares, were represented in person or by proxy at the meeting.

During the business proceedings at the meeting, shareholders approved resolutions fixing the number of directors to be elected at the meeting at six, appointing Deloitte LLP as the Company’s auditors, approving all unallocated option entitlements under the Company’s stock option plan and reducing the stated capital of Toscana Energy.

In addition, the six director nominees proposed by management were elected by ballot at the meeting.  Proxies and in person votes were received as follows:

Nominee Votes For Votes Withheld
Number Percentage Number Percentage
Thomas Budd 829,798 99.02 % 8,180 0.98 %
Donald Copeland 830,716 99.13 % 7,262 0.87 %
Joseph Durante 816,167 97.40 % 21,811 2.60 %
John Festival 830,716 99.13 % 7,262 0.87 %
Martin Hislop 830,716 99.13 % 7,262 0.87 %
Brian Krausert 830,716 99.13 % 7,262 0.87 %

About Toscana Energy Income Corporation

Toscana Energy is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets including royalties, non-operated working interests and unitized production for yield and capital appreciation.  Toscana Energy is managed by Sprott Toscana through Toscana Energy Corporation. Sprott Toscana is a member of the Sprott Group of Companies.

For further information, please visit our website at www.sprott-toscana.com or contact:

Joseph S. Durante, Chief Executive Officer
Tel:  (403) 410-6793
Fax: (403) 444-0090

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Toscana Energy Income Corporation