Mr. Timothy Elliott reports

LOON ENERGY ANNOUNCES RESIGNATION AND APPOINTMENT OF INTERIM CEO

Michael Stein has resigned as an officer and director of Loon Energy Corp. for personal reasons and Timothy Elliott has been appointed interim chief executive officer and corporate secretary. The board of directors thanks Mr. Stein for his contributions.

Mr. Elliot, a lawyer by profession, has been a director and chairman of the board of directors of Loon Energy since October, 2008. He was president and chief executive officer of Serinus Energy Inc., then a Toronto Stock Exchange-listed company, from February, 2006, to Sept. 1, 2016, and a director of Serinus from April, 2001, to Sept. 1, 2016. He has been a director of Jura Energy Corp., a public company listed on the TSX Venture Exchange, since March, 2007, and is currently chairman of the Jura board of directors, chair of its compensation committee and a member of its audit committee.

About Loon Energy Corp.

Loon was incorporated under the Business Corporations Act (Alberta) in the fourth quarter of 2008 and carried on business as an international oil and gas exploration company until 2017. Loon currently does not carry on any business other than the identification and evaluation of assets or businesses with a view to completing a transaction.