Africa Energy Annual General and Special Meeting Voting Results

VANCOUVER, BC, July 6, 2018 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) (“Africa Energy” or the “Company”), an oil and gas company with exploration assets offshore Namibia and South Africa, announces that all of the nominees proposed as directors and listed in the management proxy circular dated May 31, 2018 were elected as directors at its Annual General and Special Meeting of Shareholders (the “Meeting”) held in Vancouver, British Columbia on July 5, 2018.

Ashley Heppenstall, Chairman of Africa Energy, commented:

"We are very pleased to welcome Adam Lundin to the Board of Africa Energy. Adam’s experience in the natural resource industry and his background in capital markets will add significant value. The Board would like to thank Adrian Nel for his wise counsel since the beginning of Africa Energy in 2015. We wish Adrian well in retirement."

The Meeting results are summarized below:

Total outstanding Common Shares as at the record date:  681,586,094
Common Shares represented at the Meeting:  434,362,059
Percentage of outstanding Common Shares represented:  63.73%

The following matters were voted on at the Meeting:

Fix the Number of Directors

Ordinary resolution fixing the number of directors of the Corporation to be elected at the Meeting at six (6). Shareholders voted as follows:

Votes For % For Votes Against % Against
429,910,554 99.99 25,755 0.01

Election of Directors

Ordinary resolution approving the election of the following nominees of directors of the Corporation for the ensuing year or until their successors are elected or appointed. Shareholders voted as follows:

Nominee Votes For % For Votes Withheld % Withheld
Ashley Heppenstall 429,935,405 100.00 904 0.00
Garrett Soden 423,510,380 98.51 6,425,929 1.49
Keith Hill 426,485,380 99.20 3,450,929 0.80
Ian Gibbs 425,413,850 98.95 4,522,459 1.05
John Bentley 428,621,269 99.69 1,315,040 0.31
Adam Lundin 428,813,935 99.74 1,122,374 0.26

Appointment of Auditors

Ordinary resolution approving the appointment of PricewaterhouseCoopers LLP as Auditors of the Corporation for the ensuing year and authorizing the directors of the Corporation to fix their remuneration. Shareholders voted as follows:

Votes For % For Votes Withheld % Withheld
434,361,185 100 874 0.00

Stock Option Plan

Ordinary resolution ratifying, confirming, and approving the Corporation’s 10% rolling stock option plan, as more particularly described in the accompanying management information circular. Shareholders voted as follows:

Votes For % For Votes Against % Against
428,575,888 99.68 1,360,421 0.32

A copy of the Report on Voting will be available on Africa Energy’s website below.

In accordance with its annual employee incentive policy, the Company has granted 620,000 incentive stock options to the new director on July 5, 2018. The options are exercisable, subject to vesting provisions, over a period of five years at a price of C$0.165 per share.

Important information

This information is information that Africa Energy is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on July 6, 2018 at 2:30 a.m. Eastern Time.

The Company's certified advisor on Nasdaq First North Stockholm is Pareto Securities AB.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For additional information, please contact:

Sophia Shane

Investor Relations, Canada

+1 (604) 689-7842

Robert Eriksson

Investor Relations, Sweden

+46 701 112 615

info@africaenergycorp.com

www.africaenergycorp.com

About Africa Energy Corp.

Africa Energy Corp. is a Canadian oil and gas company with exploration assets offshore Namibia and South Africa. The Company is listed on TSX Venture Exchange (ticker “AFE”) and Nasdaq First North Stockholm (ticker “AEC”). Africa Energy Corp. is part of the Lundin Group of Companies and is actively building an exploration and production portfolio across Africa.

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