Shoreline Energy Corp.
TSX : SEQ

Shoreline Energy Corp.

November 14, 2014 18:52 ET

Shoreline Energy Corp. Announces Warrant Re-Pricing

CALGARY, ALBERTA--(Marketwired - Nov. 14, 2014) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announced today that it has received conditional approval from the Toronto Stock Exchange (the "Exchange") to amend the exercise price of 759,000 warrants ("Warrants") effective as at the close of business on November 28, 2014.

The Warrants were originally issued by the Corporation pursuant to a US$3,000,000 loan financing provided by Acceleration Resources II L.P. ("Acceleration") that closed on October 31, 2013 and was announced on November 1, 2013. Each warrant entitles the holder thereof to purchase one (1) common share of the Corporation on or before October 31, 2018 at an exercise price of CAD $2.50 per Warrant.

Pursuant to the terms of a forbearance agreement entered into with Acceleration, which agreement is discussed in Shoreline's news release of October 16, 2014, Shoreline has agreed to amend the exercise price of the Warrants to CAD $0.79 for 379,500 Warrants and CAD $1.30 for the remaining 379,500 Warrants. The closing price of the common shares of the Corporation on October 10, 2014 was $0.58 and is $0.285 as at the date of this news release.

The re-pricing of the Warrants remains subject to final Exchange approval.

Investor Information

Shoreline is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares and convertible unsecured subordinated debentures are currently listed on the TSX under the trading symbols "SEQ" and "SEQ.DB", respectively. Additional information regarding Shoreline is available under the Corporation's profile at www.sedar.com or at the Corporation's website, www.shorelineenergy.ca.

Forward Looking and Cautionary Statements

This news release contains forward-looking statements relating to final approval of a warrant re-pricing. These forward-looking statements may include opinions, assumptions, estimates and management's assessment of future plans and operations.

Forward-looking statements typically use words such as "will," "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "should," "plan," and similar expressions suggesting future outcomes, and include statements that actions, events or conditions "may," "would," "could," or "will" be taken or occur in the future. The forward-looking statements are based on various assumptions including expectations regarding the nature and success of negotiations and of a strategic alternatives process; the Corporation's net debt; increases in production rates; the success of current or future drill wells; the outlook for petroleum and natural gas prices; estimated amounts and timing of capital expenditures; estimates of future production; assumptions concerning the timing of regulatory approvals; the state of the economy and the exploration and production business; results of operations; business prospects and opportunities; future exchange and interest rates; the Corporation's ability to obtain equipment in a timely manner to carry out development activities; and the ability of the Corporation to access capital and credit. While the Corporation considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements are subject to a wide range of assumptions, known and unknown risks and uncertainties and other factors that contribute to the possibility that the predicted outcome will not occur, including, without limitation: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; loss of markets; volatility of commodities prices; currency fluctuations; imprecision of reserves estimates; environmental risks; competition from other producers; inability to negotiate acceptable terms with current and future lenders and/or equity providers; inability to obtain requisite approvals of various stakeholders; inability to retain drilling rigs and other services; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; general economic conditions; delays resulting from or inability to obtain required regulatory approvals and to satisfy various closing conditions; failure to meet credit facility covenants; and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.

Although Shoreline believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and you should not rely unduly on forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by applicable law, Shoreline does not undertake any obligation to publicly update or revise any forward-looking statements.

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