The company will offer to shareholders of record on May 7, 2018, rights to purchase shares of the company. One right will be issued for each share held. One right and two cents are required to purchase one common share unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one share at a price of five cents for a period of 24 months. The expiry date for the rights offering is June 7, 2018. As at April 30, 2018, the company has 23,759,146 shares issued and outstanding.

Effective at the opening, May 4, 2018, the shares of the company will trade ex rights and the rights will not commence trading at that time on a when-issued basis. The company is classified as an oil and natural gas company.

Summary

Basis of offering:  one right exercisable for one unit at two cents per unit

Record date:  May 7, 2018

Shares trade ex rights:  May 4, 2018

Rights expire:  June 7, 2018, at 4 p.m. MT

Trade dates:  The rights and underlying warrants are not listed for trading.

Subscription agent and trustee:  Computershare Investor Services Inc.

Authorized jurisdictions:  British Columbia and Alberta

For further details, please refer to the company's rights offering circular dated April 30, 2018.