Liminar Acquires Shares of Crown Point

BUENOS AIRES, ARGENTINA--(Marketwired - Dec. 22, 2014) - Pursuant to the early warning requirements of applicable Canadian securities laws, Liminar Energía S.A. ("Liminar"), a private Argentine company, announces that on December 19, 2014, it acquired ownership and control of 25,965,704 common shares ("Common Shares") of Crown Point Energy Inc. ("Crown Point") at an issue price of US$0.25 per share (Cdn$0.29 per share based on the closing exchange rate of the Bank of Canada of US$1=Cdn$1.1597 on December 18, 2014). After giving effect to the acquisition, Liminar owns and controls an aggregate of 25,965,704 Common Shares, representing approximately 19.9% of the issued and outstanding Common Shares. The Common Shares were acquired pursuant to the terms of an investment agreement dated November 16, 2014, as amended and restated effective December 19, 2014 (the "Investment Agreement"), pursuant to which Liminar and GORC S.A. agreed to acquire (either individually or together) an aggregate of 25,965,704 Common Shares at an issue price of US$0.25 per share pursuant to an initial closing (the "Initial Closing") of Common Shares and, subject to the satisfaction or waiver of certain conditions as set forth therein, an additional 34,034,296 Common Shares at an issue price of US$0.25 per share pursuant to a subsequent second closing of Common Shares. The purchase was made in furtherance of Liminar's investment objectives. Liminar may, from time to time, as market opportunities exist or develop, increase or decrease its beneficial ownership in Common Shares as permitted by applicable securities laws and otherwise in accordance with the terms of the Investment Agreement.

In connection with the Initial Closing, Liminar paid the purchase price as follows: (i) US$2,000,000 in US dollars; and (ii) the balance, being US$4,491,426, in Argentine pesos based on the US dollar - Argentine peso exchange rate of Banco de la Nación Argentina at the close of business on December 18, 2014 (being US$1=ARS$8.56).

The issuance of this news release is not an admission that an entity or individual named herein owns or controls any described securities or is a joint actor with another named entity or individual.

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