PENNINE ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT, EXTENSION OF WARRANT EXPIRY

CALGARY, ALBERTA (Aug. 12, 2015) – Pennine Petroleum Corporation (TSX-VENTURE: PNN or the “Corporation”) has completed a previously announced non-brokered private placement for new capital to accredited investors, in accordance with the TSX Venture Exchange bulletin “Notice to Issuers,” dated April 7, 2014 and August 17, 2012 (“Private Placements: Temporary Relief from Certain Pricing Requirements”). The closing on July 30, 2015 of the non-brokered private placement raised $405,975, which will be used to further the domestic and international activities of the Corporation. The private placement issued 13,353,500 units, with each unit consisting of one common share and one common share purchase warrant. 

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