CarbonOne Technologies Inc. Commences Trading on the TSX Venture Exchange (TSX VENTURE

CX)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 28, 2015) - CarbonOne Technologies Inc. (TSX VENTURE:CX) ("CarbonOne" or the "Company"), formerly Palo Duro Energy Inc. (TSX VENTURE:PDE.H), is pleased to announce that it has completed its previously announced business combination (the "Transaction") with CarbonOne Holdings Corp. ("CarbonOne Holdings") and Tapango Resources Ltd. (TSX VENTURE:TPA.H) ("Tapango"). CarbonOne's common shares commenced trading on the TSX Venture Exchange ("TSX-V") under the symbol "CX" at the opening of trading today.

About CarbonOne Technologies Inc.

CarbonOne, through its subsidiaries, is engaged in the development, production, manufacturing and commercialization of advanced materials. The Company holds exclusive world-wide licenses for a suite of intellectual property. With its proprietary developments in resin, furnace, and milling technologies, CarbonOne can cost-effectively produce low-cost, high-performance composite materials for industrial and structural applications. CarbonOne's products have disruptive implications in a number of industries, competing with traditional materials including wood, metal, concrete, panel insulation and plastic. CarbonOne has established a research and development and manufacturing facility in Buffalo, NY, allowing the Company to commercialize existing products and advance new products to launch in the future.

CarbonOne will focus initially on two products: C1Bar and C1Board. C1Bar is a composite rebar that is lighter than steel yet has stronger tensile strength than steel. C1Bar is also corrosion proof, providing an important advantage for outdoor applications where rusting rebar is a significant concern, and resulting in a product with a longer expected lifespan than steel rebar. CarbonOne's integrated approach to manufacturing composite rebar allows the Company to quickly and cost-effectively manufacture a high-quality product that outperforms its competitors on both a performance and cost perspective.

C1Board is a carbon ceramic composite panel with potential application across a wide range of industries. C1Board is eight times stronger, yet lighter than plywood. It is fire proof, insect proof and rot proof, and impervious to water, mold and mildew. C1Board is also insulative. The primary near-term application for C1Board is as a competitor to marine grade plywood. CarbonOne has developed and manufactured test runs of C1Board that could compete with the marine grade plywood used in the production of recreational vehicles, delivery vans, utility trailers, buses and modular homes. With some minor manufacturing modifications, C1Board could also be used for shipping containers and shipping pallets.