Mr. Clint Sharples reports

UMBRAL ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Umbral Energy Corp. has closed its previously announced (see press releases dated July 14, 2017, and Aug. 24, 2017) non-brokered private of 43.7 million units at a price of six cents per unit for gross proceeds of $2,622,000.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional share until Aug. 30, 2019 (subject to acceleration in certain circumstances), at a purchase price of 10 cents per share.

In connection with the offering, the company has paid a cash commission in the aggregate amount of $91,900, being 8 per cent of the aggregate proceeds raised from the sale of units to purchasers introduced by eligible finders. In addition, the company has issued warrants to acquire a total of 1,531,653 shares, being 8 per cent of the number of units sold under the offering to purchasers introduced by such finders. Each finder warrant entitles the holder to purchase one share at a price of 10 cents per share until Aug. 30, 2019 (subject to acceleration in certain circumstances).

Clint Sharples, chairman of Umbral, commented: "I am very proud of the efforts by Jag Bal and his team on this financing. The market is showing tremendous support and confidence in both Umbral and PhyeinMed as evidenced by this raise being significantly oversubscribed. We look forward to continuing to achieve the milestones in our plan over the coming months as we move closer to obtaining our goal of an ACMPR licence."

All securities issued in connection with the offering are subject to a statutory hold period expiring Dec. 31, 2017, in accordance with applicable securities legislation. The proceeds from the offering will be used to pay the balance of the purchase price for a Falkland, B.C., property (see press release dated July 13, 2017), completion of phase 1 of the buildout prior to an award of a licence to cultivate, finance a work program on the Letourneau property and for general working capital.

About Umbral Energy Corp.

The company is currently listed as a junior resource issuer having mineral exploration projects. The company is considering other activities to increase shareholder value, including non-resource projects. The company has a mineral exploration project in Quebec. In addition the company has an interest in PhyeinMed, which has applied for a licence from Health Canada to legally grow and sell medical marijuana.

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