NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR ‎DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Jan. 27, 2020 (GLOBE NEWSWIRE) -- New Stratus Energy Inc. (TSX.V - NSE) (“New Stratus” or the “Corporation”) announces the re-pricing of its non-brokered private placement of units of the Corporation ("Units") for total gross proceeds of up to $2,250,000 previously announced on November 12, 2019 (the “Offering”). The Units have been priced at $0.20 per Unit (down from $0.30 per Unit), with each Unit being comprised of one common share of the Corporation (“Common Share”) and ‎one common share purchase warrant (“Warrant”). Each Warrant will be exercisable for ‎one Common Share at an exercise price of $0.30 per Common Share for a ‎period of 24 months from the date of issuance of the Warrant.

The Corporation may pay finders a finder’s fee of up to 3.0% of the gross ‎proceeds of the Offering payable in Common Shares at a price of $0.20 per Common Share. The net proceeds from the Offering will be used for exploration activities in its block VMM-18 and general corporate purposes.

The Common Shares and the Warrants issued pursuant to the Offering, and any ‎Common Shares issued upon the exercise of Warrants, will be subject to a hold ‎period of four months plus one day from the date of closing of the Offering, ‎except as permitted by applicable securities legislation and the rules of the TSXV. ‎The Offering is subject to approval by the TSX Venture Exchange.‎

Contact Information:

Jose Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy
PH: +1-929-433-8849‎

Forward-Looking Information and Reader Advisory

Certain information set out in this news release constitutes forward-looking information, including information relating to the Offering and the use of process therefrom. Forward-looking statements (often, but not always, identified by the use of words such as ‎‎”expect”, “may”, “could”, “anticipate” or “will” and similar expressions) may describe expectations, opinions or guidance that are not ‎statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the ‎opinions, expectations and estimates of management of the Corporation as at the date the statements are made and are subject to a ‎variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially ‎from those anticipated or implied by such forward-looking statements. In light of the risks and uncertainties associated with forward-looking statements, readers are ‎cautioned not to place undue reliance upon forward-looking information. Although the Corporation believes that the expectations ‎reflected in the forward-looking statements set out in this news release, it can give ‎no assurance that such expectations will prove to have been correct. The forward-looking statements of the Corporation contained in this ‎news release are expressly qualified, in their entirety, by this cautionary statement.‎

This news release is not an offer of securities for sale in the United States. Securities may not be offered ‎or sold in the United States or to or for the account or benefit of U.S. persons (as such terms are ‎defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities ‎Act”)), absent registration or an exemption from registration. The securities offered have not been and ‎will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not ‎be offered for sale in the United States, except in transactions exempt from registration under the U.S. ‎Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell ‎or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which ‎such offer, solicitation or sale would be unlawful.‎

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.