Blackbird Energy Inc. Announces Common Share, CEE Flow-Through Common Share and CDE Flow-Through Common Share Financing for Total Gross Proceeds of Up to $80 Million - Seite 2

The Shares will be offered in all provinces of Canada (other than Québec) by way of a short form prospectus pursuant to National Instrument 44-101 - Short Form Prospectus Distributions and the Common Shares may be sold in the United States and other jurisdictions pursuant to exemptions from registration requirements.

The Company will apply to list the Shares on the TSX Venture Exchange (the "TSXV"). The completion of the Offering is subject to certain conditions, including the receipt of all necessary regulatory approvals, including the approval of the TSXV. Closing of the Offering is expected to occur on or about March 22, 2017 (the "Closing Date").

A copy of the Preliminary Prospectus may be obtained on SEDAR at www.sedar.com or by contacting the Agents.

Paramount Resources Ltd. Acquisition Update

Blackbird is also pleased to announce that it has entered into a purchase and sale agreement with Paramount Resources Ltd. regarding the previously announced acquisition of 13 gross sections of Montney rights (3.1 net) for total consideration of 5 million Blackbird common shares (the "Paramount Acquisition"). These lands are contiguous with Blackbird's existing lands and will, upon closing, increase Blackbird's Montney rights at Elmworth / Pipestone to 115 gross sections (99.9 net). Closing of the Paramount Acquisition is subject to TSXV acceptance and certain other conditions customary for acquisitions of this nature. Closing of the Paramount Acquisition is expected to occur by the middle of March, 2017.

ABOUT BLACKBIRD

Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.

READER ADVISORIES

Forward Looking Information

This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Specifically, this news release includes, but is not limited to, forward-looking statements with respect to the net proceeds from the Offering, the Closing Date of the Offering and the closing of the Paramount Acquisition, including timing therefor. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of the Company's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future oil and gas prices, regulatory approvals including approvals from the TSXV for the Offering, as well as those factors discussed in the sections relating to risk factors of our business filed in the Company's required securities filings on SEDAR. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.