Pine Cliff Energy Ltd. has closed its previously announced short form prospectus offering (the "Offering"). The Company issued 63.9 million subscription receipts (the "Subscription Receipts"), including 8.3 million Subscription Receipts pursuant to the exercise of the over-allotment option granted to the Underwriters (as defined herein), at a price of $1.08 per Subscription Receipt (the "Offering Price") for gross proceeds of $69 million.

The Offering was made pursuant to an underwriting agreement with a syndicate of underwriters co-led by Haywood Securities Inc. and Clarus Securities Inc. and included Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., TD Securities Inc., Desjardins Capital Markets, FirstEnergy Capital Corp., GMP Securities L.P., AltaCorp Capital Inc., Dundee Capital Markets, Scotia Capital Inc. (collectively, the "Underwriters").

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