Crown Point Deems Dissident's Last-Minute Proposal Not a Bona Fide Offer and Confirms Support for Second Tranche Financing With Strategic Investors

CALGARY, ALBERTA--(Marketwired - Jan. 30, 2015) - Crown Point Energy Inc. ("Crown Point" or the "Company") (TSX VENTURE:CWV) today advised shareholders that a Special Committee of the Board has reviewed the purported "binding proposal" for financing (the "Last-Minute Proposal") received from dissident shareholder LAIG Oil Investments ("LAIG") and after careful consideration has determined that it is not a bona fide offer of financing. Furthermore, Crown Point advises shareholders that based on the advice of counsel, the Last-Minute Proposal is not "binding" at all, notwithstanding LAIG's claim that it is.

Crown Point strongly disagrees with LAIG's position that its Last-Minute Proposal should replace the second tranche financing ("Second Tranche") that Crown Point has arranged with a strategic Argentine investor group (the "Strategic Investors").

"Our conclusion is that LAIG's Last-Minute Proposal is a public relations ploy to disrupt the approval of the Second Tranche by shareholders at the forthcoming Special Meeting," said Gordon Kettleson, Chairman of the Board and member of the Special Committee. "The Special Committee wishes to confirm for shareholders that it continues to strongly support the Company's relationship with the Strategic Investors and the Second Tranche financing."

The Special Committee encourages shareholders to consider the following factors. These factors, among others, have influenced the Committee's conclusions:

• Benefits of Strategic Investors to Shareholders. The Second Tranche cements a relationship with the Strategic Investors that will be advantageous to Crown Point over the long term, given their strong business reputations in Argentina, their vast experience in the energy and banking industries in Argentina, and their knowledge of and deep relationships within the local business community.
  
  Crown Point believes the Strategic Investors will help grow the Company into a significant player in the Argentine oil and gas sector. As previously disclosed, the Strategic Investors are positioned to accelerate Crown Point's growth by leveraging their financial capabilities and local business networks so that Crown Point can gain access to new opportunities through, among other things, acquisitions and farm-ins on strategic assets.