Challenger Announces Increase to Non-Brokered Unit Private Placement

CALGARY, ALBERTA--(Marketwired - May 27, 2015) - Challenger Deep Resources Corp. ("Challenger" or the "Company") (TSX VENTURE:CDE) is pleased to announce that further to its press release of April 29, 2015, due to increased interest, it is increasing the size of the non-brokered private placement (the "Offering") to up to 6,000,000 units (the "Units") at a price of CAD $0.10 per Unit for gross proceeds of up to $600,000. As previously announced, each Unit shall be comprised of one common share and one common share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of Challenger at an exercise price of CAD $0.15 for a period of two (2) years from the date of issuance of the Units. If, at any time after the expiry of the 4 month hold period, the closing price of the Challenger common shares on the TSX Venture Exchange is at least $0.50 for a period of 30 consecutive trading days, the Corporation may, at its option, accelerate the expiry date of the Warrants by issuing a press release and giving written notice thereof to all holders of warrants, and, in such case, the warrants will expire on the date which is the earlier of: (i) the 30^th day after the date on which the press release is disseminated by the Corporation; and (ii) the original expiry date.

Challenger may pay a finder's fee to an arm's-length finder in connection with the issue and sale of any or all of the Units under this Offering. The finder's fee shall consist of a cash payment of no more than 8% of the gross proceeds of the Offering in relation to subscribers introduced by any particular finder.

Closing of the Offering is expected to occur on or before June 11, 2015. The Offering is subject to acceptance by the TSX Venture Exchange and other customary conditions for a transaction of this nature. Securities issued under the Offering will be subject to a four-month hold period.

The net proceeds from the Offering will be used for development of the promotions platform and business. Insiders of Challenger will participate for up to one half of the Offering.

About Challenger

Challenger Deep Resources Corp. is currently classified as a Resource Issuer however has divested itself of all resource assets and now seeks to become a Technology Issuer through the completion of the Change of Business as previously disclosed in its press release dated April 29, 2015.

Neither the 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 news release.

READER ADVISORY

Statements in this press release may contain forward-looking information including, statements regarding the contemplated Offering. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Challenger. Factors that could cause the actual results to differ materially from those in forward-looking statements include, inability to complete development of the promotions application, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. The reader is cautioned not to place undue reliance on any forward-looking information. There can be no assurance that the Offering will be completed.

The forward-looking statements contained in this press release are made as of the date of this press release, and Challenger 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 required by securities law.