Emerald Bay Energy Inc. has entered into a loan extension agreement (the "Loan") with an arm's length lender (the "Lender") in the principal amount of $1,200,000 (the "Loan"). The Loan has been entered into on the same terms as the previous loan agreement, which expired on August 15, 2014.

The Loan will bear interest at a rate of 10% per annum, compounded monthly, with a term ending August 15, 2015, subject to standard prepayment and conversion clauses (principal amount is convertible, at the option of the lender, into common shares of the Corporation at a price per share equal to $0.05).

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