Pennine Petroleum Corporation

Pennine Petroleum Corporation

July 11, 2016 07:02 ET

CEO of Inclusive Energy, a Habib Group Affiliate, Joins Pennine as Independent Director

CALGARY, ALBERTA--(Marketwired - July 11, 2016) - Pennine Petroleum Corporation (TSX VENTURE:PNN) or (the "Corporation") announces that Mr. Bilal Hydrie has joined the Board of Directors of the Corporation as nominee for Inclusive Energy Ltd., a member of the Habib Group which provides financial and banking services across the globe.

Mr. Hydrie is a non-executive and independent director of Pennine. He is the President and Chief Executive Officer of Inclusive Energy Ltd., a specialized company focused on the sales and rental of oilfield equipment. Mr. Hydrie brings experience in international finance and strong corporate governance, and will be an outstanding addition to Pennine's Board of Directors.

The Corporation further announces the granting of 500,000 incentive stock options with an exercise price of $0.05 per share and an expiry date five years from the date of grant. The options vest immediately upon grant. The total number of options outstanding as of the date hereof is 9,068,986.

This appointment and option grant are subject to TSX Venture Exchange approval.

About Pennine Petroleum Corporation: Pennine Petroleum Corporation is an emerging oil and gas exploration and development company (www.penninecorp.com) currently active in Albania and the Canadian provinces of Alberta and Saskatchewan.

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.

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