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News Release - June 23, 2020Pinnacle Renewable Energy Inc. Announces Voting Results from 2020 Annual General Meeting of Shareholders

VANCOUVER, June 23, 2020 /CNW/ - Pinnacle Renewable Energy Inc. ("Pinnacle" or the "Company") (TSX: PL) announced today that each of the nominee directors listed in the management information circular of the Company dated May 8, 2020 was elected as a director of the Company (a "Director") at the annual general meeting of the holders of Common Shares of the Company held today (the "Meeting"). The number of Common Shares voted by ballot for the election of each Director or withheld was as indicated below:

Name of Nominee

Vote For

%

Votes Withheld

%

Gregory Baylin

20,823,402

94.68

1,170,316

5.32

Pat Bell

21,288,803

96.80

704,915

3.20

Duncan Davies

21,991,640

99.99

2,078

0.01

Michael Lay

20,823,502

94.68

1,170,216

5.32

Hugh MacDiarmid

21,886,938

99.51

106,780

0.49

Rex McLennan

21,991,940

99.99

1,778

0.01

Jane O'Hagan

21,991,040

99.99

2,678

0.01

Leroy Reitsma

21,312,302

96.90

681,416

3.10

Final results on all matters voted at the Meeting will be filed with the Canadian securities regulatory authorities and will be available on the Company's SEDAR profile at www.sedar.com.

About Pinnacle

Pinnacle is a growing industrial wood pellet manufacturer and distributor and the third largest producer in the world. The Company produces sustainable fuel for renewable electricity generation in the form of industrial wood pellets. This fuel is used by large-scale thermal power generators as a greener alternative to produce reliable baseload renewable power. Pinnacle is a trusted supplier to its customers, who require reliable, high-quality fuel supply to maximize utilization of their facilities. Pinnacle takes pride in its industry leading safety practices. The Company operates eight industrial wood pellet production facilities in western Canada and one in Alabama, with two additional facilities under construction in Alberta and Alabama. The Company also owns a port terminal in Prince Rupert, B.C.  Pinnacle has entered into long-term take-or-pay contracts with utilities in the U.K., Europe and Asia that represent an average of 99% of its production capacity through 2026.

SOURCE Pinnacle Renewable Energy Inc.

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