PENNINE ANNOUNCES C$3.0 MILLION NON-BROKERED FINANCING TO ADVANCE ALBANIAN ENERGY PROJECT 

CALGARY, ALBERTA (April 04, 2017) – Pennine Petroleum Corporation (TSX-Venture: PNN) (“Pennine” or the “Corporation”) is pleased to announce that the Corporation will be undertaking a non-brokered financing of up to 50,000,000 units for proceeds of C$3,000,000 (the “Offering”).

This non-brokered financing will help Pennine move its exploration and production activities forward in Albania’s Velca Block, following the finalization on Feb. 14, 2017 of a Production Sharing Agreement with Albpetrol, the national oil company of Albania.

Each unit is offered at C$0.06, and shall consist of one common share (“common share”), and one common share purchase warrant (“warrant”) with an exercise price of C$0.10 for a period of one year from closing.

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