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 December 23, 2015 - 2:56 PM EST
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Blacksteel Energy Inc. Announces Warrant Extension

CALGARY, ALBERTA--(Marketwired - Dec. 23, 2015) -


Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") is pleased to announce that it has received conditional approval from the TSX Venture Exchange ("TSXV") to extend the expiry term of 5,240,910 common share purchase warrants (the "Warrants") issued as part of its 2013 private placement. This amendment represents the sixth amendment made for the Warrants.

The original expiry date of the Warrants was July 31, 2014 at 5:00 p.m. (Calgary time) (the "Expiry Date"). The six previous amendments had extended the Expiry Date to September 30, 2014, then to November 30, 2014, then to April 30, 2015, then to August 31, 2015 and then subsequently to December 31, 2015 at 5:00 p.m. (Calgary time). All of the Warrants entitle the holder to purchase one common share of the Corporation at an exercise price of $0.20 per share.

The new expiry date of the Warrants is June 30, 2016 at 5:00 p.m. (Calgary time). All other terms and conditions of the Warrants remain unchanged. The Corporation will deliver a Notice of Amendment reflecting the amended expiry date to the registered holders of the respective Warrants. 

In addition, on November 25, 2015, the Corporation disposed of its interest in a petroleum and natural gas property in the Crossfield area of Alberta for gross proceeds of $25,000.

About Blacksteel Energy Inc.

Blacksteel is a junior oil and gas company involved in the exploration, exploitation, development and production of petroleum and natural gas resources. 

Forward-Looking Information Cautionary Statement: This document contains forward-looking statements regarding the business and operations of Blacksteel. All statements other than statements of historical fact contained herein are forward-looking statements under applicable securities laws. In particular, statements as to the Corporation's anticipated transactions are forward-looking statements. These forward looking-statements are based upon various assumptions. The Corporation's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the plans, intentions or expectations anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefit the Corporation will derive there from. All subsequent forward-looking statements, whether written or oral, attributable to the Corporation or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

Blacksteel Energy Inc.
Eugene Chen
(403) 231-8389

Source: Marketwired (Canada) (December 23, 2015 - 2:56 PM EST)

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