Opal Energy Increases Private Placement to $1.0m and Appoints New Director

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 22, 2015) - Opal Energy Corp. (the "Company" or "Opal") (NEX:OPA.H) announces that it is increasing its non-brokered private placement previously announced on September 29, 2014 (the "Offering"), to $1.0m subject to the approval of the TSX Venture Exchange (the "Exchange"). The revised Offering will consist of up to 10,000,000 units ("Units") at a revised price of $0.10 per Unit for gross proceeds of up to $1,000,000. Each Unit will consist of one common share (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant may be converted into one Common Share at a revised price of $0.15 per share for a period of 5 years from the date of issuance of the Warrant. Opal may pay finders' fees in connection with the Offering consisting of cash or warrants. All Common Shares and Warrants issued under the Offering will be subject to a four month hold period from the date of issuance. Proceeds of the Offering will be used to finance Opal's exploration and development of its Firebag Property. Opal has received conditional Exchange approval to acquire a 75% interest in the Firebag Property and for reactivation to tier 2 of the Exchange as a resource issuer. Opal's reactivation and acquisition of the Firebag Property are conditional upon completion of the Offering and final Exchange approval.

Opal also announces that, subject to Exchange approval, Mr. Brandon Boddy has been appointed as a director of Opal. Mr. Boddy has over 9 years of finance and capital market experience. He formerly worked as an investment advisor at Jordan Capital Markets and Canaccord Capital Corp., Canada's largest independent securities dealer covering the North American capital markets specializing in developing, restructuring and financing venture capital companies. Mr. Boddy attended the University of New Orleans studying Business Administration and finished his Degree at British Columbia Institute of Technology. The board of directors of Opal is now comprised of Jamie Newall, David Hughes, Mike Curtis, Gerald Tuskey, Emma Nicholson and Brandon Boddy.

On behalf of the Board of Directors

Opal Energy Corp.

David Hughes, CFO and Director

Neither the NEX or 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.