Aspenleaf Energy Limited Announces Completion of Acquisition of Arcan Resources Ltd.

CALGARY, ALBERTA--(Marketwired - June 8, 2015) - Aspenleaf Energy Limited ("Aspenleaf") is pleased to announce the completion of the previously announced arrangement (the "Arrangement"), pursuant to which Aspenleaf acquired all of the issued and outstanding common shares of Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan") at a price of $0.11 per share in cash. Pursuant to the Arrangement, Arcan became a wholly-owned subsidiary of Aspenleaf and the two entities subsequently amalgamated, with the continuing corporation named Aspenleaf Energy Limited.

With the completion of the Arrangement, the common shares of Arcan (former symbol: ARN) were delisted from the TSX Venture Exchange at the close of markets on June 8, 2015.

About Aspenleaf Energy Limited

Aspenleaf is a private oil and gas company that is focused on the acquisition and exploitation of light oil and liquids-rich gas assets in Western Canada. Aspenleaf is run by a highly experienced team, with combined industry experience of well over 100 years and headed by President & CEO, Bryan Gould. Aspenleaf is backed by ARC Financial Corp, a Canadian energy-focused private equity manager, and Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, with more than $140 billion in net assets.