Livermore Partners LLC and Its Affiliate Acquire Common Shares of Mitra Energy Inc.

NORTHBROOK, ILLINOIS--(Marketwired - May 2, 2016) - Livermore Partners LLC announced today that it and its affiliate, Livermore Strategic Opportunities, LP (together with Livermore Partners LLC, "Livermore Partners"), acquired an aggregate of 72,000 common shares (the "Shares") of Mitra Energy Inc. (the "Issuer") from the TSX Venture Exchange, at a price of $0.5781 per Share on April 29, 2016, on behalf of certain investment funds and managed accounts that they manage (the "Funds and Accounts").

Before these transactions, Livermore Partners exercised direction or control of 8,791,519 Shares, through the ownership of Shares by the Funds and Accounts. As a result of these transactions, Livermore Partners now exercises direction or control of an aggregate of 8,863,519 Shares, or approximately 10.06% of the Issuer's issued and outstanding Shares based on the total issued and outstanding Shares of the Issuer as shown in the interim financial statements of the Issuer dated December 31, 2015.

The Shares of the Issuer are listed on the TSX Venture Exchange and trade under the trading symbol "MTE". Livermore Partners acquired the Shares on behalf of the Funds and Accounts for investment purposes. Depending on market conditions, Livermore Partners may in the future increase or decrease these investments in the Issuer.

An Early Warning Report respecting these transactions will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

About Livermore Partners LLC:
Livermore Partners is an alternative asset investment manager servicing high-net worth individuals, institutional investors, and private-equity sponsors based in Northbrook, Illinois. We invest using a deep-value opportunistic approach and work diligently to help extract value in portfolio companies. For more information, please visit: www.livermorepartners.com

Regulatory Disclaimer:

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 release.