PENNINE ANNOUNCES RE-PRICING OF C$1.0 MILLION NON-BROKERED FINANCING TO ADVANCE ALBANIAN ENERGY PROJECT 

CALGARY, ALBERTA (May 25, 2016) – Pennine Petroleum Corporation (TSX-Venture: PNN) (“Pennine” or the “Corporation”) is pleased to announce that the Corporation has re priced its previously announced (March 22, 2016) non-brokered private placement of up to 50,000,000 units for proceeds of C$1,000,000. Each unit is offered at C$0.02, and shall consist of one common share (“common share”), and one common share purchase warrant (“warrant”) with an exercise price of C$0.05 for a period of one year.

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