Greenfields Petroleum Corporation Announces Completion of Previously Announced Brokered Financing

HOUSTON, TEXAS--(Marketwired - July 9, 2013) -

NOT FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

Greenfields Petroleum Corporation ("Greenfields" or the "Company") (TSX VENTURE:GNF) (TSX VENTURE:GNF.DB), an independent exploration and production company with producing assets in Azerbaijan, is pleased to announce that it has completed its previously announced brokered offering of common shares of the Company ("Common Shares") by issuing 821,800 Common Shares, at a price of $3.40 per Common Share, for gross proceeds of approximately $2.8 million (the "Brokered Offering"). In combination with the previously completed non-brokered private placement which closed on June 25, 2013, the Company has raised, in aggregate, gross proceeds of approximately $9.6 million.

The Brokered Offering was conducted through a syndicate of agents led by FirstEnergy Capital Corp. and including Casimir Capital Ltd.

About Greenfields Petroleum Corporation

Greenfields is a junior oil and natural gas corporation focused on the development and production of proven oil and gas reserves principally in the Republic of Azerbaijan. The Company plans to expand its oil and gas assets through further farm-ins, and acquisitions of Production Sharing Agreements from foreign governments containing previously discovered but under-developed international oil and gas fields, also known as "greenfields". More information about the Company may be obtained on the Greenfields website at www.greenfields-petroleum.com.

Neither the 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.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale may be unlawful. The Common Shares have not been and will not be registered under the 1933 Act or any U.S. state securities laws and may not be offered or sold in the United States absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.