An anonymous director reports

TRIBUTE RESOURCES INC. AND INTERNATIONAL MARINE ENERGY INC. ANNOUNCE ACQUISITION OF TIDAL POWER DEVELOPMENT PROJECT AT PETIT PASSAGE, NOVA SCOTIA

Tribute Resources Inc. has acquired a 0.9-megawatt tidal development project located at Petit Passage in Nova Scotia. The Fundy Tidal board of directors has approved the transfer of the Petit Passage and Grand Passage COMFITs (one megawatt) to Spray Tidal LP in consideration for $500,000 of preferred units in the Spray LP bearing interest at the rate of 12 per cent. Fundy shareholders will have the option to invest up to an additional $1-million of funds into the equity of the project. The transfer of the COMFITs is subject to regulatory approval.

The Petit Passage tidal project is a contracted development-stage tidal energy project located between Digby Neck and Long Island in Digby county, Nova Scotia. The Petit Passage project will be developed and owned by the Spray LP. Spray Energy GP Ltd., the general partner for the Spray LP, is owned jointly by Tocardo Canada (a company owned jointly by Tribute and Tocardo International BV) and International Marine Energy Inc. (IME) (a corporation owned 50 per cent by Tribute). The Tocardo technology will be tested at the site in late 2017 or early 2018. Tocardo has been developing and deploying its tidal turbines in rivers and ocean environments for over a decade.

The Petit Passage project has a 20-year power purchase contract with Nova Scotia Power Inc. to sell tidal power at a price of 65 cents per kilowatt-hour.

The Spray LP presents a unique opportunity for Tribute to work with Tocardo, Minas Energy and Fundy Tidal, and other Nova Scotian consultants, contractors, suppliers and government agencies, combining its respective expertise to build a Nova Scotian project that will contribute to the development of Nova Scotia's considerable tidal energy potential.

Mark Savory, PEng, will lead the project team and will be engaging in discussions with local supply chain companies, and is undertaking comprehensive stakeholder consultations with first nations, the fishing industry, regulators and communities to complete all necessary regulatory requirements prior to deployment and testing.

Tocardo is active worldwide in the rapidly developing tidal energy industry and currently has 10 tidal turbines installed and operational in the Netherlands. The Spray LP has assembled an experienced and knowledgeable team to develop the Petit Passage project.

We seek Safe Harbor.