Acquisition of Additional Shares of Ascendant Resources Inc. for Investment Purposes

TORONTO, ONTARIO--(Marketwired - Jan. 29, 2018) - Following the acquisition today of an additional 1,556,000 (or approximately 2.17%) of the outstanding common shares of Ascendant Resources Inc. (the "Company"), Steve Laciak, an employee of Dundee Securities Ltd., now has beneficial ownership and control of, in respect of Mr. Laciak's personal and family member accounts, a total of 9,784,449 (or approximately 13.64%) of the outstanding common shares of the Company. The additional 1,556,000 common shares of the Company were purchased today through the facilities of the Toronto Stock Exchange at an average market price of $0.97 per share, for a total of $1,508,770 ("Purchased Shares").

Immediately prior to the acquisition of the Purchased Shares, the Mr. Laciak's personal and family member accounts owned 8,228,449 Common Shares of the Company, representing approximately 11.47% of the outstanding Common Shares of the Company.

Mr. Laciak acquired the common shares in the ordinary course of Mr. Laciak's investment activities in respect of Mr. Laciak's personal and family holdings, for personal investment purposes. Mr. Laciak may purchase or sell common shares of the Company in the future on the open market or in private offerings, depending on market conditions and other factors material to Mr. Laciak's investment decisions.

An early warning report with additional information will be filed on and available under the Company's profile on SEDAR at www.sedar.com. To obtain a copy of the early warning report please contact Steve Laciak at (416) 350-3048 or 1 Adelaide Street East, Suite 2100, Toronto, Ontario M5C 2V9.