Nesscap Announces Closing of Initial Tranche of Debt Financing

SEOUL, SOUTH KOREA and TORONTO, ONTARIO--(Marketwired - Dec. 30, 2015) - Nesscap Energy Inc. (Nesscap) (TSX VENTURE:NCE), a global leader in research, development and manufacturing of ultracapacitor products, announces that it has completed the initial tranche in an amount of USD $1,000,000 of the previously announced debt financing of up to USD 3,000,000 (the Loan) with Arbat Capital Group Ltd. (Arbat). The initial tranche of the Loan has a maturity date of June 30, 2017 and bears interest at a rate of 10% per annum with such interest to be accrued and payable together with the principal amount on June 30, 2017. Prepayment of principal and interest, in whole or in part, is permitted at any time without premium or penalty.

At this time the initial tranche of the Loan will be unsecured, and rank pari passu with all other creditors of Nesscap, as Arbat and Nesscap have agreed to consider alternative options respecting the advance of the remainder of the Loan, including but not limited to, an equity financing. If the remainder of the Loan is advanced by way of debt, the aggregate amount of the Loan will be subject to the terms stated above and will also be secured by a standard security interest over all tangible and intangible assets and undertakings of Nesscap including, but not limited to, the securities of its subsidiaries. The grant of such security interest by Nesscap will also be subject to Arbat and I2BF Energy Ltd. extending the maturity date of the debt securities previously issued to them by Nesscap to June 30, 2017.

Nesscap has issued 4,247,692 bonus common shares to Arbat in connection with the advance of the initial tranche of the Loan. These bonus shares will be issued at a deemed price of CAD 0.065 and will be subject to resale restrictions until May 1, 2016.

About Nesscap

Since its inception in 1999, Nesscap Energy Inc. has become an award winning global leader in technology innovation and product development of ultracapacitors. Attributes of the ultracapacitor allow for the technology to be used in applications where power, life cycle requirements, or environmental conditions limit the suitability of batteries or capacitors. Nesscap products are available in both cells and modules and are used to enhance the performance of modern applications ranging from portable electronic devices to high performance windmills and high-tech 'green' cars. Nesscap features the widest array of standard commercial products in the market from 3 farads to 6,200 farads with industry recognized alternative organic electrolytes. Customers of the Company are active in the transportation, renewable energy, industrial, and consumer markets. Technical and sales information can be found at www.nesscap.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way approved or disapproved of the contents of this press release.

Forward-Looking Statements

Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.