VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 26, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
EnerGulf Resources Inc. (TSX VENTURE:ENG)(FRANKFURT:EKS) ("EnerGulf" or the "Company") is pleased to announce
its intention to conduct a non-brokered private placement of up to $300,000 consisting of up to 6,000,000 units to be sold at a
price of $0.05 per share. Each unit will consist of one common share and one warrant for the purchase of one additional common
share of the Company (a "Warrant Share") exercisable at a price of $0.06 per Warrant Share for a period of 18 months after the
date of issuance of the warrant.
The Company may pay finder's fees equal to 6% of the proceeds paid or issue finder's warrants equal to 10% of the number of
units sold under the private placement.
EnerGulf intends to use the proceeds of the private placement for general corporate purposes and for potential oil and gas
acquisition opportunities. The private placement is subject to acceptance by the TSX Venture Exchange.
On Behalf of the Board of EnerGulf
Jeff Greenblum, Chairman
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.
The securities referred to in this news release have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news
release does not constitute an offer of securities for sale, nor a solicitation for offers to buy any securities. Any public
offering of securities in the United States must be made by means of a prospectus containing detailed information about the
company and management, as well as financial statements.
This release may include certain forward-looking information and statements, as defined by law including without
limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995
("forward-looking statements"). In particular, and without limitation this news release contains forward-looking statements
respecting the company's intention to conduct a private placement; the intended use of proceeds raised from the private
placement; the future prospects for the company; management's beliefs, assumptions and expectations; and general business and
economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including
without limitation assumptions about the following: ability to complete the private placement on the terms outlined in the news
release; changes in the business or prospects of the company; unforeseen circumstances; general business and economic conditions;
and ongoing relations with employees, consultants, partners and joint venturers. The foregoing list is not exhaustive and we
undertake no obligation to update any of the foregoing except as required by law.