Pennine corporate update: PNN shares remain suspended

CALGARY (Nov. 1, 2019)—Pennine Petroleum Corporation (PNN: TSX-V) (“Pennine” or “the Company”) announces that the proposed business combination with a private company (”PrivCo”), initially announced via a Company news release on May 6, 2019, has been terminated at the request of PrivCo.

Time delays in securing regulatory approvals for the transfer of Licenses associated with the proposed transaction, as well as circumstances relating to the regulations of a Reverse Take Over, were cited by PrivCo as reasons for the termination.

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