CALGARY, Alberta, April 17, 2018 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) (TSX:DEE) today announced the adoption by its Board of Directors of By-law No. 3 of the Company (the “Advance Notice By-law”), a by-law establishing a framework for advance notice of nominations of directors by shareholders of the Company (“Shareholders”).   

The Advance Notice By-law is similar to the advance notice by-laws adopted by many other Canadian public companies. Specifically, it provides for advance notice of nominations of directors in circumstances where nominations of persons for election to the Board of Directors are made by Shareholders. The Advance Notice By-law is intended to provide a transparent process for nominating directors of Delphi in connection with any annual or special meeting of Shareholders.
  
For an annual meeting of Shareholders (including an annual and special meeting), notice to the Company must be not less than 30 days prior to the date of the meeting. In the event that the annual meeting is to be held on a date that is less than 50 days following public announcement of the date of the meeting, notice may be given not later than the 10^th day following the date of such public announcement.

For a special meeting of Shareholders (which is not also an annual meeting), notice to the Company must be given not later than the 15^th day following the date on which public announcement of the date of the meeting is made.
  
At the annual and special meeting of Shareholders scheduled to be held on Tuesday, May 22, 2018, Shareholders will be asked to confirm the Advance Notice By-law. If the Advance Notice By-law is not confirmed at the meeting by an ordinary resolution of the Shareholders, it will be of no further force and will terminate. A copy of the Advance Notice By-law can be found under Delphi’s profile on SEDAR at www.sedar.com and has been posted on Delphi’s website at www.delphienergy.ca.

About Delphi Energy Corp.

Delphi Energy Corp. is an industry-leading producer of liquids-rich natural gas. The Company has achieved top decile results through the development of our high quality Montney property, uniquely positioned in the Deep Basin of Bigstone, in northwest Alberta. Delphi continues to outperform key industry players by improving operational efficiencies and growing our dominant Bigstone land position in this world-class play. Delphi is headquartered in Calgary, Alberta and trades on the Toronto Stock Exchange under the symbol DEE.